EagleTribune.com, North Andover, MA

Merrimack Valley

March 27, 2013

North Andover loan shark gets 2 years in prison


In October 2010, state law enforcement officials announced the indictments of 31 individuals in connection with a violent criminal enterprise that involved extortion, drug trafficking, robberies, assaults and other crimes.

The suspected leader of the criminal network, Rossetti, was indicted in connection with organizing the network involved in extortion, drug trafficking, robberies, assaults and other crimes.

To date, nearly 20 defendants have been found guilty in Essex, Middlesex, Suffolk and Plymouth counties in relation to the investigation.

The investigation revealed that Giallanella was a local bookmaker and loan shark, and employed an “enforcer” who would collect money from gamblers who fell behind on their debts. In many cases, violence or threats of violence were used in order to collect the debts.

Giallanella was indicted in October 2010. In January, he pleaded guilty to charges of managing a gaming enterprise, use of a telephone for gaming, criminal usury, conspiracy and accessory after the fact of larceny in Essex Superior Court and was sentenced on March 11 to two to four years in state prison.

Prosecutors say Giallanella would strong arm his debtors using threats and violence.

“He was at the top of the pyramid with many agents working for him. ... He set the limits. He was the overall boss,” First Assistant District Attorney John Dawley said during Giallanella’s sentencing earlier this month. “He had a significant amount of money on the street,” he added.

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