Philip Abramo

Philip Abramo
Born	(1945-07-22) July 22, 1945 New York City, New York, U.S.
Other names	The King of Wall Street, Lou Metzer
Occupation(s)	Mobster, caporegime
Known for	Caporegime within the New Jersey DeCavalcante crime family; implicated in securities fraud and homicide cases

Philip Abramo (born July 22, 1945), also referred to as "The King of Wall Street" and "Lou Metzer", is a caporegime within the New Jersey DeCavalcante crime family. He has been implicated in securities fraud and homicide cases. Abramo commands the DeCavalcante faction operating out of Miami, Florida, United States.

Early years

Abramo was born in New York and completed his education at Cardinal Hayes High School in the Bronx. Distinguished among Cosa Nostra affiliates for holding a higher education degree, he earned a bachelor's in accounting from Pace University. His criminal record dates back to 1971 when he was convicted for possession of stolen goods, followed by a seven-year sentence in 1973 related to heroin distribution conspiracy.

White collar crime

After becoming an initiated member of the DeCavalcante family, Abramo engaged extensively in extortion, loansharking, and fraudulent activities involving microcap stock fraud. He operated covertly as the controlling force behind Sovereign, a prominent microcap firm, along with its affiliate Falcon Trading. His influence extended to penny stock companies such as Toluca Pacific Securities and Greenway Capital, as well as additional small-cap brokerage firms managed by brokers loyal to him.

Murder

Beyond financial crimes, Abramo is suspected of involvement in homicides. In 1989, he and other associates from the DeCavalcante family allegedly assassinated Frederick Weiss, a recycling industry executive and former city editor at the Staten Island Advance. This act was reportedly done at the behest of Gambino crime family leader John Gotti, who feared Weiss might be collaborating with the Federal Bureau of Investigation (FBI) on an investigation into a waste management company. In 1992, Abramo is believed to have participated in the murder of DeCavalcante boss John D'Amato, who was suspected of engaging in homosexual behavior.

As Abramo advanced within the DeCavalcante hierarchy, he frequently served as a conduit between them and New York's five major crime families. The FBI documented his regular meetings with Gotti before Gotti’s incarceration in 1992. Additionally, Abramo is connected by marriage to Alan Longo, a member of the Genovese crime family.

Conviction and prison

In 1996, authorities charged Abramo in New Jersey with defrauding approximately 300 individuals across the country out of $1 million through bogus lines of credit. By October 2000, he faced multiple accusations including racketeering, conspiracy to commit murder, and securities fraud. During his trial, he declared:

On July 4, 2003, Abramo was found guilty of five murders—including those of D'Amato and Weiss—alongside racketeering and loansharking offenses. He was sentenced to life imprisonment in 2006. Nevertheless, a federal appeals court overturned his racketeering conviction in September 2008 and ordered a retrial. According to the Federal Bureau of Prisons, Abramo was released on January 21, 2018.

External links

• Testimony Concerning The Involvement of Organized Crime on Wall Street by Richard H. Walker (September 13, 2000)
• Crime Family Dealt a Blow, Police Say by William K. Rashbaum (October 20, 2000)
• United States v. Giovanni Riggi, Philip Abramo, etc.
• United States of America v. Giovanni Riggi, Philip Abramo, etc. , United States District Court of Southern District of New York
• DeCavalcante Verdict
• Racketeering Convictions Rejected for 3 in Mob Case By JOHN ELIGON