Philip Abramo

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Philip Abramo (born 1945), also known as "The King Of Wall Street", "Lou Metzer" is a caporegime in the New Jersey DeCavalcante crime family who was allegedly involved in security fraud and murder. Abramo was a capo of the DeCavalcante family's crew in Miami, Florida.

Early years[edit]

Born in New York, Abramo graduated from Cardinal Hayes High School in the Bronx. One of the few Cosa Nostra mobsters to attend college, Abramo graduated from Pace University with a degree in accounting.[1] In 1971, Abramo was convicted of possessing stolen property. In 1973, Abramo was convicted of conspiracy to distribute heroin and sentenced to seven years in federal prison.[2]

White collar crime[edit]

At some point, Abramo joined the DeCavalcante family and eventually became a made man, or full member, of the family. He became involved in extortion, loansharking, and microcap stock fraud schemes. Abramo was the hidden control person behind Sovereign, a prominent microcap stock company and its sister trading firm, Falcon Trading. Abramo also controlled two penny stock firms, Toluca Pacific Securities and Greenway Capital. Abramo allegedly controlled other small-cap stock dealers through brokers and traders owing allegiance to him.[2]

Murder[edit]

In addition to white collar crime, Abramo also allegedly committed murder. In 1989, Abramo and other DeCavalcante family members allegedly murdered Frederick Weiss, a recycling executive and former city editor of the Staten Island Advance newspapers. The murder was a favor to Gambino crime family boss John Gotti who feared that Weiss was cooperating with the Federal Bureau of Investigation (FBI) on a waste company investigation. In 1991, Abramo allegedly participated in the killing of John D'Amato, a man whom Gotti wanted to install as boss of the DeCavalcante family in 1990.[3]

As Abramo's status rose in the DeCavalcante family, he frequently served as a liaison between the DeCavalcantes and the five crime families of New York.[4] The FBI identified him as a frequent visitor to Gotti prior to his imprisonment in 1992. Abramo is also the brother-in-law of Alan Longo, a member of the Genovese crime family.

Conviction and prison[edit]

In 1994, Abramo was indicted in New Jersey for allegedly swindling 300 people nationwide out of $1 million by selling them fraudulent lines of credit.[2] In October 2000, Abramo was indicted on charges of racketeering, conspiracy to murder, and securities fraud. During his trial, Abramo made the following statement:

"I have done many, many things in my life that I am ashamed of, but I have never, ever murdered another human being nor have I ever asked or ordered anyone to murder another human being,"

[5]

On July 4, 2003, Abramo was convicted of five murders, including those of D'Amato and Weiss, as well as racketeering and loan sharking charges and sentenced to life in prison.[6]

In September 2008, a federal appeals court reversed Abramo's racketeering conviction and ordered a new trial.[7] As of May 2010, Abramo is being held at the Metropolitan Detention Center (MDC) in Brooklyn, possibly awaiting retrial. His projected release date is January 21, 2018.[8]

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