An illegal $17 million gambling ring in New York City was busted by Federal officials Tuesday, when 12 of 16 people, who allegedly ran the operation from a Park Avenue apartment, were arrested.
The ring used two rented rooms filled with televisions and telephones, and workers who took sports bets by hand from gamblers who used code names like Socks, Vodka and Birdie. After an extensive investigation and surveillance on the apartment the Federal officials managed to arrest the suspects.
Authorities estimate that the illegal business had more than $17 million passed annually through it, and took about 10,000 calls each month from gamblers, since 2000.
According to Assistant U.S. Attorney Jeffrey Goldberg, who is prosecuting the case, the three men who are accused of being the ring's operators are Mark Barasch, 61, of Queens, Allen Sherman, 66, of Oceanside and Mastriocovo, 50, of the Bronx.
Two other people, Andrew Soskin, 42, and Ivan Prince, 66, were arrested in Florida. They were in charge of collecting and paying out money.
Goldberg said the three leaders, Mastriocovo, Barasch and Sherman, were released after posting $300,000 bond. Others face or will face bail of $200,000 or $100,000, depending on their rank in the business.
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