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Onassis yacht fraud nets 5-year sentence

SHARE Onassis yacht fraud nets 5-year sentence

A former restaurant busboy who duped investors in an attempt to acquire a yacht once owned by Aristotle Onassis has been sentenced to five years in prison.

Alexander Blastos, 35, received the maximum penalty for wire fraud, the U.S. attorney's office said Tuesday in Concord, N.H.

A federal judge ruled that several factors justified the penalty, including Blastos' use of a counterfeit $2.1 million guarantee bond and his effort to fraudulently obtain a $2.5 million loan from private sources.

The court also found that Blastos obstructed justice by ordering an associate to destroy evidence.

In 1993, Blastos appeared from nowhere to win an auction for the 325-foot yacht. His winning bid was $2.2 million, but his $220,000 check to the Greek Navy as a down payment bounced.