Fairbanks Capital Follow the Basmajian Links to corruption Hatboro Pennsylvania
Feds: Ecstasy Ring Linked To Mob, Kosovo
United Press International
October 25, 2001
SAN DIEGO-- Possible ties to a New York organized crime family and a rebel leader in Kosovo were unearthed during an investigation into an alleged Ecstasy ring that was broken up this month in California, it was reported Thursday.
The San Diego Union-Tribune said a federal prosecutor outlined the potential links between the Gambino family and an unnamed Kosovo rebel general during a bail hearing Wednesday for defendants in a case involving an alleged Ecstasy lab located in northern San Diego County.
The lab, which was the target of a Drug Enforcement Administration investigation dubbed "Operation XXX," was said to be capable of churning out 1.5 million Ecstasy tablets a month and was then shipped to dealers in California and Mexico.
Assistant U.S. Attorney Todd Robinson said in court that telephonic wiretaps had also produced possible links to the Gambino mob in New York as well as to rebels in Kosovo.
"We base our information not on speculation but on words that came out of Derek Galanis' mouth," said Robinson, referring to one of the 27 defendants indicted in the case earlier this month whose conversations were taped.
Prosecutors contended that Galanis' telephone communications indicated he was seeking financial backing for his lab from reputed mobster Tommy Gambino. Robinson said Galanis had actually lived in Kosovo for five months and may have developed smuggling ties to the unnamed Kosovar general.
Galanis, who was ordered held without bond, was indicted along with 23 other individuals, including his father, John Peter Galanis, a fugitive financier who disappeared earlier this year from a prison work-release program while serving prison time for swindling investors out of millions of dollars.
The younger Galanis' lawyer, Michael Pancer, argued for a $1 million bond and characterized the alleged ties to the Gambinos and Kosovo as tenuous.
"It's just pure speculation and has nothing to do with this case," Pancer pleaded.
Organized crime figures in the United States and Europe have been among pioneer distributors of Ecstasy, a euphoria-producing drug that has found growing popularity among youthful patrons of nightclubs and rave parties.
The drug is not considered addictive, however an overdose can be fatal and the drug can produce lingering after effects such as depression, memory loss and brain damage, according to the DEA.
Sammy "The Bull" Gravano, the former high-ranking Gambino mobster who testified against his former boss, John Gotti, was indicted last year in Arizona on charges he was involved in an Ecstasy ring operating in the Phoenix area. Nine New Jersey men were indicted in March for allegedly trafficking Ecstasy on behalf of Philadelphia mobsters.
According to the DEA, a large percentage of the Ecstasy sold in the United States is produced in Europe and controlled by organized crime figures in Western Europe, Russia and Israel.
At the same time, United Nations officials and KFOR troops based in Kosovo have been increasingly dealing with criminal organizations rising from the guerilla groups that grappled with Yugoslav troops prior to the U.S.-led invasion of the province in 1999.
"These criminals have no interest in democracy, a strong state or the police," said Col. Leonardo Leso, commander of the Italian Carabinieri in Kosovo, told the U.S. newspaper Stars and Stripes last year. "Not everybody is involved in organized crime, but after 50 years of communism, corruption is everywhere and there is no process to democracy, no sense of law and people think it is normal to be a part of illegal activity."
Frank J. Cillufo, a terrorism analyst with the Center for Strategic and International Studies in Washington, testified before a House Judiciary subcommittee last December that the Kosovo Liberation Army had its hands in the international drug trade before NATO troops moved in and ousted the Yugoslav army.
"During the NATO campaign against the former Yugoslavia in the spring of 1999, the allies looked to the KLA to assist in efforts to eject the Serbian army from Kosovo," Cillufo said. "What was largely hidden from public view was the fact that the KLA raise part of their funds from the sale of narcotics. Albania and Kosovo are at the heart of the 'Balkan Route' that links Afghanistan and Pakistan to the drug markets of Europe. This route is worth an estimated $400 billion a year and handles 80 percent of heroin destined for Europe."
BushkillGal
Milford, Pennsylvania
U.S.A.
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4 Updates & Rebuttals
Robin
Waldron,Arkansas,
U.S.A.
Absolutely Amazing.. Wow! Now we learn why this company (Fairbanks) acts the way it does.
#5Consumer Comment
Wed, April 02, 2003
Perhaps the ultimate result will be a pair of concrete overshoes for all individuals involved and a free one-way trip to the bottom of a very deep lake!
The truly amazing thing is that this company has operated with impunity for so long in this country. It has harmed so many people, ruined their lives and their credit. I hope that all folks harmed by this company will get help, at least in getting their credit reports cleansed of the false info provided by Fairbanks. It won't undo the harm done to them, but at least it won't continue to ruin their chances of having a home again someday.
BushkillGal
Milford,Pennsylvania,
U.S.A.
Fairbanks /Galanis Tie-in .. A federal prosecuter gave the following description: "this is an organization who's M.O. was fraud, whose very activities were corrupt
#5Consumer Comment
Tue, April 01, 2003
Over the past month, WBAL Channel 11 in Baltimore, Md has been conducting an investigation into Fairbanks Capital. Their exhaustive research reveals a link to the past and a huge fedeal case that nabbed one of the biggest swindlers of all time.
In the National Archives, there is buried six boxes of a federal case. That case centers on John Peter Galanis, a notorious white collar criminal who made headlines in the late '80's when his organization was put on trial for bilking hundreds of millions of dollars from investors and the U.S. Government in tax shelter schemes.
Although Basmajian was not charged in the Galanis case, the documents and over 9000 pages of court testimony reveal Basmajian's connection. It starts with a company called Churchill Oil and Gas, formed in 1981 by Doug Adams and Thomas Basmajian.
According to Adams' testimony in court: "(he) and Basmajian formed Churchill in 1981 - specifically to work with .... John Galanis in the Transpac drilling ventures".
Transpac was the name of the tax shelters that the government later declared a total sham. Court testimony reveals Basmajian was at the table with Galanis with the Transpac deals were launched in Greenwich.
Testimony also reveals Basmajian was an apparent insider in the deals - close enough to the inner circle that he was able to get a piece of the tax shelters pie without having to pay. In 1983 Basmajian was involved in starting a new company - Churchill Investment Corporation.
It was a licensed securities dealer. According to testimony in court, it was intended to make the tax shelter program more attractive to investors. Galanis himself testified: "I spoke to Tom Basmajian in the early fall of 1983. That Churchill could -- as a broker dealer -- help facilitate the Transpac program in being able to offer this particular feature to investors."
A lawyer for Galanis - who testified against him as part of a plea bargin in the federal case - told 11 News that Churchill Investment was formed to sell Galanis' deals. Doug Adams - Basmajian's partners says he was involved in Churchill Investment but got out by the end of 1984. The reason: he says Galanis wanted him to get involved in another venture and Churchill Investment had drawn the interest of the SEC.
In September 1987, Galanis and seven of his associates were indicted by a federal grand jury in New York. By that time Galanis' schemes were linked to the failure of several banks and the raiding of a mutual fund.
A federal prosecuter gave the following description: "this is an organization who's M.O. was fraud, whose very activities were corrupt, whose appetite for money was voracious, whenever more money was needed, more victims were sought." Untouched by the prosecution of Galanis and Adams, Basmajian himself went on to form Fairbanks Capital Corporation a year later.
How did Basmajian escape prosecution? Easy - he hid behind the corporate veil. It seems "Churchill" (i.e. Basmajian) owned 90% of Churchill Gas, and Adams 10% of same, however, Adams signed the corporate tax returns - enough said.
Now, flash forward to the present and check the whereabouts and business dealings of John Galanis since 1989. Check into the business dealings of his son Jason, and John Panther, and their companies, including The Credit Store, and the relationship with BestBank, and Cargill and the investigation that revealed that John Galanis was running these businesses from his jail cell, and look into Inc ubator Capital, and then add on the fact that Mr. John Galanis disappeared from New York City while on prison release. Then connect the dots. All of this information and much more is available on the web.
DISCLAIMER - This information is not supplied to suggest that Mr. Basmajian has connections to illegal drug manufacturing. This information is supplied only to reveal the fact that Mr. Basmajian has in the past had contacts with Organized Crime and people who deal in drug manufacturing, marketing and traffic.
Stephanie
Ft Lauderdale,Florida,
U.S.A.
An answer to your question..... HUD, FTC, and the WBAL- Channel 11, investigates Fairbanks Capital, they are uncovering more then they expected
#5Consumer Comment
Tue, April 01, 2003
Robin,
I am not the original author that posted the article regarding Fairbanks ties with the drug bust, but I can answer your question.
As the HUD, FTC, and the WBAL- Channel 11, investigates Fairbanks Capital, they are uncovering more then they expected. Please go to the HOMEPAGE of Rip-offReport.com and view the article on Fairbanks, under "Top Rip-offs". You will see that the CEO of Fairbanks Capital, Thomas Basmajian had ties with the notorious white collar criminal John Peter Galanis in the 1980's.
It seems to be clear that Basmajian was an active participant in the Galanis fraudulant business ventures, Galanis STOLE over $400 million dollars from banks, shareholders, and the U.S. Government. Galanis was sentenced to 27 yrs in prison, (one of the toughest white collar criminal sentences ever in the country). This money was never found. Basmajian founded Fairbanks Capital just a year after Galanis was sent to prision. Many people believe that John Galanis continued to "run things" even from prison, with the help of his son Jason on the outside.
In the article posted above, you will see that Galanis was named in this extacy bust. It may be the opinion of many that Basmajian still today has ties with the Galanis family, and has ALWAYS had ties with them, even during John Peters days of incarceration. This could very well be true, and could link Fairbanks Capital's CEO to mob/drug activity.
The investigation into Fairbanks Capital has already uncovered astonishing facts, that even most victims couldn't imagine. Hold on to your hats, this is just the beginning.
Robin
Waldron,Arkansas,
U.S.A.
Questions...?
#5Consumer Comment
Mon, March 31, 2003
Okay, I'll bite. Make it just a bit clearer on how the Mob ties in with Fairbanks Capital, as well as the drug trafficking.