Crime never pays, you will always get what's coming. The latest made guy to find that hard truth out is Bonanno crime family soldier Ronald Giallanzo. A lifetime criminal who has been with the Bonannos for over 16 years, Giallanzo been involved in everything from stock schemes to bookmaking.
In fact, he was arrested along with my old friends John Baudanza, Little Craig Marino and Jerry Degerolamo in 2006 when they were busted for their stock pump-and-dump business.
They stole more the 20 million dollars with their penny stocks.
They used familiar sounding stocks to draw victims to buy them. They had names like, America's Hedge Fund, Orex Gold Mines Corporation, Legends Sports and Motorsports USA, so you can see how people, mostly a lot of retired senior citizens, would fall for it.
They controlled over 20 brokerage houses where they paid brokers commission, over 25%, to push these so called “house stocks.” The bonuses were paid in cash because most of these businesses brought in little or no revenue.
Giallanzo’s life of crime seemed to pay off. He made millions over the years, managing sportsbooks for the family.
He was among those caught by the FBI going to a Bonanno family Christmas party a few years back. He and most of the others were still on parole, and they had “do not associate” rules in effect.
The FBI set up and used video and still pictures to get a number of the mobsters violated.
Giallanzo had to go before a judge because he still had time on his parole. The US Attorney wanted him to serve 2 years for the violation.
Giallanzo’s lawyer argued that the same judge had given other men in similar situations a year and a day. The judge ended up giving him a year and a day.
The Federal government now wants their pound of flesh, so they served Giallanzo legal papers to seize his Queens home. It's a nice 3,500 square foot home on 86th in Howard Beach.
It is owned on paper by his wife, but the Feds claim the money to construct, remodel and purchase all came from criminal proceeds. The seizure laws are in favor of the government, because anyone that faces seizure of property must prove that it is not from illegal activity.
Last year Giallanzo’s Uncle Vincent Asaro, who was part of the crew that robbed Lufthansa airlines for 6 million in cash, was acquitted on those charges and murder. Yet Vincent Asaro and the rest are marked men.
Theodore Persico Sr aka Teddy passed away this week. He was the brother of imprisoned Colombo family boss Carmine Persico. He was a capo and part of the ruling panel for the Colombos. He was also one of the point men during the civil war in the 1990’s. He was one of the reasons his son Teddy Jr. was so eager to give the go ahead to murder Joe Scopo. Teddy Jr. gave the order while attending his grandmother's funeral in Brooklyn while on furlough from prison.
I will write more on Teddy Sr next week.