Story out of South Dakota:
Jason Galanis, a man who in 2004 was called “Porn’s New King,” was arrested by FBI agents at his Los Angeles home on Wednesday and charged with taking part in a $60 million scam that ripped off impoverished South Dakota Sioux and others.
It was the third time in nine years that Galanis had been accused of engineering a financial fraud.
In the latest case, Galanis, his dad, John “Yanni” Galanis, and five others persuaded the tribe to issue more than $60 million in municipal bonds that the group promised would help them bring in added revenue, it is alleged.
But instead of selling the bonds and forking over the proceeds to the needy Native Americans, the seedy seven pocketed the cash — spending it on homes, cars, jewelry and travel, according to the 45-page complaint unsealed in federal court by Manhattan US Attorney Preet Bharara. Cont.
Story from - The New York Post
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