George Georgiou is a Canadian citizen currently serving a 25 year prison term in an American jail for alleged stock market crimes he has unwaveringly maintained he did not commit. The private facility where George is currently housed (Moshannon Valley Correctional Centre) has recently seen an outbreak and surge in Covid cases. A Compassionate Release motion will be filed in the next few weeks to the new Judge appointed to George’s case. Under the First Step Act of 2018, the Judge can now reduce George’s sentence so he can return home to Canada to be with his children. The safety risks of American jails compared to Canada are extreme (see US vs. Canada analysis).
The case against George Gergiou
In September 2008, George was lured to the United States by an undisputed liar and criminal named
Kevin Waltzer (shown on right).
George never went home.
George’s 7 year old son, Johnny, had just died from brain cancer, his father, John, had just passed away from years battling multiple sclerosis, and George’s wife, Karen, was 8 1/2 months pregnant with their fifth child.
That is when Waltzer chose to strike.
The prosecution team’s theory of the case presented George as a global stock market manipulator possessing the skill and intent to coordinate buying and selling which artificially inflated prices. However, the only witness they could muster who was willing to testify as to knowledge and participation in any such scheme, was the self-confessed thief and fraudster, Waltzer.
Waltzer had stolen $45 million from insurance companies, while also ripping off those closest to him, including his own secretary and landscaper. The US Government has confirmed that George had no knowledge or involvement in Waltzer’s crimes. When the IRS opened a criminal investigation into Waltzer’s suspicious transactions, he turned against all of his underlings, offering to become an FBI informant, approaching the US Attorney’s Office to manufacture cases against others.
At trial, the prosecution team vouched for Waltzer, telling the jury he was a truth teller, who, notwithstanding his astounding larcenies, must be believed because he had seen the wrong of his ways. Moreover, they insisted that Waltzer had to tell the truth, otherwise he would lose all leniency.
Waltzer got on the stand and told a story of how he (the global fraudster and mastermind) was actually George’s puppet, buying and selling at George’s direction with the intent to manipulate prices. Faced with this attack, George testified in his own defense, vehemently insisting that Waltzer was lying, having fabricated the entire narrative. Years later, George would be proven correct.
George recounted how Waltzer had ingratiated himself as a friend, pretending to help the family during their mourning and despair. George explained that shortly after Johnny passed away in February 2006, Waltzer visited the family in Canada and sat over dinner with George’s wife and children pleading for help. Waltzer had supposedly fallen behind on his legitimate taxes, and unless he paid the IRS $6 million, they would prosecute him criminally. George testified that Waltzer begged, “George, you know what it’s like to lose a child, please don’t let me lose mine.” Grief-stricken and full of compassion, George arranged for Waltzer to receive the $6 million he asked for.
Alas, it was all just another Waltzer lie and con ! Waltzer was trying to steal as much as he could because the IRS was onto him for his global thefts and frauds.
The prosecutors frothed in their closing argument to the jury, that George was the one lying, that there was no IRS fraud by Waltzer against the family, and that George had made it all up as a “fairytale”.
The jury voted in favour of their hometown prosecutors, finding George guilty.