Bank fraud lands Queens broker in the big house

New York /
Mar.March 08, 2012 05:30 PM

An Astoria real estate broker is in the big house, and no, not a mansion.

Phivos Ioannou, 50, surrendered to federal authorities last Thursday and was stripped of his real estate license after being charged with bank fraud, the New York Daily News reported. Ioannou, who pleaded guilty to the charges and was sentenced to two years in prison, was employed at Astoria Home Realty, formerly Evan’s Corner Realty, on the corner of 31st Avenue and 38th Street, in Astoria.

“By pleading guilty he accepted responsibility and he’s looking forward to moving on with his life,” said Ioannou’s attorney, Jeffrey Pittell.

City Council member Peter Vallone, who represents Astoria, told the News Ioannou was a “piece of trash with nine lives.” The charges against Ioannou included fraudulently charging an American Express card belonging to the Federal Bureau of Investigation.

“I think the people of Astoria should probably throw a party,” Vallone said. [NYDN]


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