- Charges of drug-trafficking against Melbourne crypto millionaire / souvlaki king, Sam Karagiozis, were dropped yesterday due to a lack of evidence.
- The charges against Karagiozis related to his alleged use of the dark web and Bitcoin to import and distribute over 30 kilograms of cocaine and methamphetamine between 2016 and 2017.
- Karagiozis says he now plans to pursue authorities for legal costs and damages stemming from the seizure of AU$2 million worth of his assets.
Following a five year legal tussle, the case against crypto and souvlaki kingpin, Sam Karagiozis, has collapsed after police and prosecutors were unable to find sufficient evidence to support their claim that he was also a drug-trafficking kingpin.
Karagiozis, who made his fortune trading crypto and founding the fast-food chain Souvlaki GR, walked free from Melbourne’s County Court yesterday after drug trafficking charges dating from 2019 were discontinued.
Related: Australian Man Receives 3-Year Sentence for Spending AU$6.07 Million in Mistaken crypto.com Refund
Karagiozis Laments Injustice, Declares System Broken
Karagiozis was facing serious charges. The Australian Federal Police (AFP) alleged that the renowned souvlaki seller sat atop a drug-trafficking network that imported more than 30 kilograms of cocaine and methamphetamine into Australia in over 100 separate mail packages between 2016 and 2017. The AFP also alleged Karagiozis used the dark-web and Bitcoin to source the drugs.
Karagiozis — who has the words ‘self made’ tattooed on his knuckles — had previously served six months on remand in relation to the charges and had been on bail since 2019.
Following his arrest, Australia’s anti-money laundering watchdog, AUSTRAC, suspended the registration of two crypto exchanges linked to Karagiozis and seized over AU$2 million worth of his assets, including crypto, fiat currency, cash and fancy cars.
Outside the County Court, the souvlaki-slinging crypto-millionaire described his experience of being targeted as a drug kingpin:
Nearly six years for nothing. I feel a great amount of injustice; however, relieved that it is finally over and can be put to bed. I am very disappointed in our [justice] system. It’s broken. No one should ever have to endure what we went through. There should be stricter measures put in place to prevent the AFP from abusing their powers as they have done during this case.
Sam Karagiozis, Souvlaki and crypto millionaire Karagiozis’ co-accused, Fox Emannuel-O’Neil — a former police officer — also had their charges of dealing with the proceeds of crime discontinued.
No Detailed Explanation Given for Dropping Charges
The AFP haven’t released a statement explaining why charges against Karagiozis were dropped, however the Commonwealth Director of Public Prosecutions did weigh-in, saying that “the prosecution of Mr Karagiozis was discontinued by this office in accordance with the prosecution policy of the Commonwealth.”
It would seem that authorities opted to drop the charges because they simply couldn’t find enough evidence to build a compelling case against Karagiozis.
Related: Australian AFP Officer Allegedly Steals Nearly 82 Bitcoins Worth $6m
Speaking outside court, Karagiozis said he’s now considering pursuing damages for legal costs and the seizure of his assets:
We now have our next battle, which is the recovery of assets. Assets which were my life’s work. Our legal team is preparing to commence action on that right away.
Sam Karagiozis, Souvlaki and crypto millionaire Get the most important crypto news delivered to your inbox by subscribing to the CNA newsletter
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