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Greek-American businessman among those indicted in drug, racketeering ring

Monmouth County Prosecutor and D.E.A. announce that on January 26, 2009, a Monmouth County Grand Jury returned a 38 count indictment against 16 defendants following a more than one year long investigation into a
cocaine trafficking and money laundering network based in Manalapan, N.J.

The investigation was initiated in the Spring of 2007.  It revealed that Vicente Esteves, 36, of Manalapan, was the leader of a racketeering enterprise which was responsible for the distribution of significant quantities of cocaine to Monmouth County and the surrounding area.

The cocaine came from sources across the United States and in other countries.  The investigation additionally revealed that Esteves hid the proceeds of his criminal activity through a “money laundering” scheme orchestrated by Dennis Krousos, 45, of Monmouth Beach, N.J., a Certified Public Accountant and Mortgage Banker with an office in Woodbridge, N.J.

Dennis Krousos

The indictment charges Dennis Krousos, 45, of Monmouth Beach, N.J., with second degree Racketeering Conspiracy, first degree Financial Facilitation of Criminal Activity, two counts of second degree Misconduct by a Corporate Official, fourth degree Deceptive Business Practices, third degree Falsifying Records and four counts of fourth degree Unlawful Check Cashing.

Krousos surrendered to Detectives from the Monmouth County Prosecutor’s Office following the return of the indictment.  Krousos is free on $750,000 bail. Conditions of Krousos’ bail included a “Source of Funds” hearing, the execution of a formal waiver of extradition, and that Krousos surrender his passport.

The first degree crimes that Krousos is charged with have upon conviction a maximum potential custodial exposure of up to 20 years in State Prison.  The second degree crimes that Krousos is charged with have upon conviction a maximum potential custodial exposure of up to 10 years in State Prison, the third degree crimes carry a maximum potential custodial exposure of up to 5 years in State Prison and the fourth degree crimes carry a maximum potential custodial
exposure of up to 18 months in State Prison.

Krousos is represented by Lawrence Bitterman, Esquire, of New Brunswick, N.J. who said that his client is a very well respected accountant and banker.

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