United States Attorney Michael J. Sullivan and Kenneth W. Kaiser, Special Agent in Charge of the Federal Bureau of Investigation in New England, announced today that CHRISTOS KYRIAZIS, age 41, of 10460 Roosevelt Blvd., North, # 285, St. Petersburg, Florida, pleaded guilty before U.S. District Judge Dennis F. Saylor, IV to an Information charging him with mail fraud and the interstate transportation of property taken by fraud.

At today's plea hearing the prosecutor told the Court that, had the case proceeded to trial, the evidence would have proven that KYRIAZIS was introduced to the victim in 2001, who was over 90 years old at the time, and represented to her that he was an experienced financial advisor who could invest her money in legitimate investments for her benefit. KYRIAZIS induced the victim to cash in an annuity in 2002 and to forward $787,000 of the proceeds to an entity which KYRIAZIS represented to be an "investment group." KYRIAZIS instead caused most of the funds to be used to purchase gold coins, which KYRIAZIS took for his own personal use. The remaining funds KYRIAZIS caused to be used to pay his personal home rent for a year and to buy a Porsche automobile.

In 2004 KYRIAZIS induced the victim to give him checks totaling about $175,000 allegedly for investment in the "Tierra Verde Specialty Market, Inc.," which KYRIAZIS told his victim was a legitimate investment vehicle. In fact, Tierra Verde is a Florida convenience store business which KYRIAZIS controls. KYRIAZIS used all of the victim's funds for his own personal and business purposes.

Judge Saylor scheduled sentencing for August 24, 2005 at 11:00 a.m. KYRIAZIS faces up to 20 years in prison, to be followed by 5 years of supervised release, a $250,000 fine, and an order of restitution for the mail fraud count and 10 years in prison, to be followed by 3 years of supervised release, a $250,000 fine, and an order of restitution for the interstate transportation of property taken by fraud charge.

The case was investigated by the Federal Bureau of Investigation and the Shrewsbury Police Department. It is being prosecuted by Assistant U.S. Attorney Mark J. Balthazard in Sullivan's Economic Crimes Unit.

Source: U.S. Attorney

CONTACT: Samantha Martin of the U.S. Attorney's Office, +1-617-748-3139