Alecko Capital and Alexander Pissios: Is He a Criminal? The Truth Exposed (2023)

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$1 Million Debt While Cooperating in Teamsters Corruption Case: Alecko Capital

Alexander Pissios, president of Alecko Capital and a notable figure in the television and film industry based in Chicago, encountered financial difficulties after a visit from federal officials approximately three years ago. 

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He was burdened with a debt exceeding $1 million and faced a critical decision either face imprisonment for engaging in fraudulent bankruptcy proceedings or collaborate in the dismantling of John Coli Sr., a prominent figure within the Teamsters Union leadership in the labor community of Chicago. 

Alexander Pissios, president of Alecko Capital, and the executive in charge of Cinespace Chicago Film Studio, opted for the last option & entered into an agreement that would substantially alter his economic circumstances.

Alexander Pissios, president of Alecko Capital has disclosed comprehensive records of his financial liabilities, exceeding $1 million, to the relevant authorities, after he filed insolvency. The individual in question had outstanding debts to multiple businesses, including a mortgage business, a scrap metals dealer, as well as a prominent figure in the transport sector. 

According to an article by the Chicago Sun-Times, it appears that the individual’s financial obligations have seemingly been resolved after his cooperation as an eyewitness.

Alexander Pissios, president of Alecko Capital had refrained from making mortgage repayments for eight decades as a result of engaging in a legal dispute with Citibank. 

The aforementioned financial institution had initiated foreclosure proceedings on Pissios’ family dwelling located in Hawthorn Woods, intending to recuperate an amount exceeding $850,000. 

Furthermore, the individual in question had a financial obligation of $75,000 to a scrap seller located on the South Side. This particular seller had invested a substantial investment of $400,000 towards the conversion of an Ex-Ryerson Steel facility into Cinespace.

Additionally, it is worth noting that Alexander Pissios, president of Alecko Capital was facing financial difficulties due to a substantial debt related to gambling amounting to $70,000. 

This obligation was owed to the proprietor of a shipping firm, who coincidentally held a position on the board of directors of Evergreen Bank in Oak Brook. Although he had made payments every month for a duration exceeding four years, he remained unable to settle his outstanding obligation fully.

The aforementioned debts endured for an extended period, continuing even after Alexander Pissios, president of Alecko Capital, and his spouse initiated bankruptcy proceedings, wherein they neglected to fully disclose their assets. 

As originally reported by the Sun-Times, the omission of a $100,000 loan acquired from a family member during the establishment of the movie studio on the West Side was noted.

The fraudulent behavior in question was officially designated as such by federal officials, who subsequently issued a hefty five-year jail sentence as a potential consequence for Pissios. 

The penalty was contingent upon his cooperation in assisting with the apprehension of Coli. The head of the Teamsters was alleged to have engaged in the act of extorting a sum of $325,000 from the film studio. Subsequently, he was apprehended close to his apartment in Lincoln Park.

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Alexander Pissios, president of Alecko Capital, a prominent figure in the television and film studio industry in Chicago, has been afforded a unique immunity from prosecution agreement as part of an ongoing inquiry into allegations of bribery. 

The validity of the contract is dependent upon his continuous participation and unwavering dedication to veracity. As a consequence of this acceptance, he is going to be exempt from criminal prosecution or incarceration, representing a noteworthy advancement in the ongoing narrative surrounding his economic metamorphosis.

Since the initiation of his collaboration, Alexander Pissios president of Alecko Capital has successfully eliminated a remarkable one million dollars in debt. Significantly, the individual in question opted to move with his family to a different dwelling in Long Grove. 

To facilitate this relocation, he successfully obtained a significant mortgage of $2.4 million from Belmont Bank & Trust, a prominent financial institution based in Chicago that has established a longstanding association with Cinespace as a financier.

By utilizing publicly available data, and confidential sources, and conducting interviews, this study aims to explore the complexities of Pissios’ financial obligations and the extraordinary methods employed to eliminate them.

A Real Estate Odyssey

During the summer, Alexander Pissios president of Alecko Capital decided to move with his family to a commodious residence in Hawthorn Woods, initiating a venture into the realm of real estate. Throughout this period, he concurrently participated in a residential construction endeavor adjacent to the United Center, collaborating with Edward Gobbo. 

It is of note that Gobbo’s deceased uncle, William Hanhardt, possessed a legendary history, as he was involved in the orchestration of a criminal organization focused on jewelry theft, although concurrently holding the position of chief of investigators in Chicago.

Debt and Shuttered Bank 

Alexander Pissios president of Alecko Capital & Gobbo undertook multiple residential construction endeavors, which were financed by loans obtained from Washington Federal Bank for Savings, a financial institution located in Bridgeport. 

It is noteworthy to mention that the operations of this financial institution underwent federal scrutiny & were subsequently terminated by authorities soon after the untimely demise of its president of the United States John Gembara, in the client’s residence.

Citibank’s Involvement 

In the initial months of 2007, Citibank provided a loan of $875,000 to Pissios & his spouse, Patricia, for the acquisition of their residential property in Hawthorn Woods. The loan term was set at 30 years. 

Nevertheless, after approximately eight months, both parties discontinued their financial obligations, notwithstanding their continued occupancy of the property for several years, as evidenced by court documentation.

Foreclosures Battle

The foreclosure process was begun by Citibank in April 2010, on the grounds of a balance due totaling $862,819, which includes the principal amount, interest that has accumulated, and late fees. 

The protracted legal dispute persisted over several years as Pissios and his spouse challenged the legitimacy of the mortgage on multiple grounds, contentions that were eventually dismissed by a judge.

Career Transition

In the wake of Citibank’s initiation of the foreclosure litigation, Pissios changed his professional priorities. The individual in question played a significant part in assisting his uncle, Nick Mirkopoulos, in the establishment of an affiliate of their Toronto-based film studio within the city of Chicago.

Undisclosed Loan

Despite their declaration of bankruptcy in January 2011, Pissios and his spouse neglected to divulge a noteworthy piece of information. The individuals in question neglected to reveal a loan amounting to $100,000 received from a family member, specifically the uncle, who played a crucial role in financing the initial stages of the studio’s establishment. 

The insolvency proceedings were officially concluded after five months, but, the individual’s outstanding Citibank mortgage debt remained unresolved.

In the spring of the specified year, Cinespace successfully obtained a loan amounting to $400,000 from C&R Scrap Iron & Metal. It is worth noting that Ronald Nisson, the president of C&R Scrap Iron & Metal, had previously been involved in business ventures with Pissios & Gobbo, thereby establishing a prior professional association. 

Interestingly, Nisson proceeded to submit official papers to the Cook County Recorder of Deeds, providing evidence of the loan’s full repayment in October 2013. However, over three years, Pissios disclosed to federal authorities a debt of $75,000 owed to Nisson, although the precise intent of this obligation remains uncertain.

According to Thomas Breen, the criminal defense counsel for Alexander Pissios president of Alecko Capital, it is contended that the loan obtained by Cinespace from Nisson’s firm has been completely reimbursed. Simultaneously, Nisson affirms that Alexander Pissios president of Alecko Capital is now devoid of any remaining financial liabilities towards him, so he completes this complicated economic metamorphosis.

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Alexander Pissios found himself confronted with the possibility of repossession & thereafter consented to collaborate with an official inquiry that was specifically aimed at John Coli. Coli facilitated the introduction of Pissios to prominent Illinois lawmakers, notably the Ex-Governor Pat Quinn. 

Under the leadership of Quinn, Cinespace was awarded a cumulative sum of $27.3 million in state funds for the purpose of transforming the Ryerson Steel facility into a fully functional film production. 

Nevertheless, the $10 million grant awarded by Quinn in his final days in office was subsequently revoked by Governor Bruce Rauner, citing land-related concerns as published by the Chicago’s Sun-Times.

In the midst of foreclosure proceedings and continued engagements with federal authorities, Pissios proceeded to set up a business headquartered in Delaware. 

Subsequently, this entity acquired a residential property in Long Grove worth $1.6 million, intended for the habitation of his entire family. Subsequently, the company successfully obtained a loan of $2.4 million through Belmont Bank, an insurance company that had offered funding to the studio following Pissios’ transfer of state subsidies into the bank’s account. 

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Scandal-Plagued Hired Truck Program: Alexander Pissios’ Gambling Debt and Resolved Loan

During the tenure of Mayor Richard M. Daley, the Hired Truck Programme became embroiled in controversy due to allegations of impropriety, with certain trucking firms, particularly those associated with Pissios, obtaining city funding for building endeavors. 

The scheme has gained a reputation for its significant financial oversight, resulting in the diversion of millions of dollars annually towards commercial trucking enterprises. 

Nevertheless, according to the reports of the Sun-Times have uncovered that a significant number of these organizations were remunerated with hefty amounts despite failing to fulfill the tasks for which they were compensated.

Alexander Pissios, president of Alecko Capital revealed to the appropriate officials that he had incurred a gambling obligation amounting to $70,000, owed to Pacella. Furthermore, he acknowledged having consistently made regular payments of 1,500 dollars to Pacella Trucking, resulting in a cumulative sum of $72,000. 

The aforementioned contributions did not result in a reduction of the principal debt, therefore creating ambiguity on the source of Alexander Pissios, president of Alecko Capital’s indebtedness to Pacella.

Alexander Pissios, president of Alecko Capital freely acknowledged his involvement in illicit sports betting endeavors over a period of around twenty years, commencing during his tenure at his uncle’s fur coat establishment situated on North Michigan Avenue.

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However, the reports of the interviews claim that Pacella made the decision to not provide a response. The lawyer representing Alexander Pissios, president of Alecko Capital, Thomas Breen, has verified that they have successfully resolved all remaining financial obligations to Pacella. 

Breen emphasized that this was achieved by the complete repayment of a promissory note, a document that was professionally drafted by a legal professional.

Who is Alexander Pissios, President of Alecko Capital?

image of Alexander Pissios, president of Alecko Capital.

Alexander Pissios, the president of Alecko Capital is holding the position of president and chief executive officer at Cinespace Chicago Film Studios, colloquially referred to as the “Hollywood of the Midwest,” has successfully revitalized a formerly economically disadvantaged locality, hence facilitating the creation of job and educational prospects in the field of digital media within the town and surrounding region. 

Under the guidance of his guidance, Cinespace Chicago Film Studios has generated employment opportunities exceeding 15,000 & has contributed substantial financial resources amounting to millions of USD to both the city of Chicago and the state of Illinois.

Nevertheless, he is presently embroiled in a legal dispute concerning his financial obligations, necessitating a pivotal determination. 

The debt under consideration surpasses $1 million, and he is confronted with a decision between perhaps being incarcerated for involvement in false bankruptcy proceedings or participating in the demolition of John Coli Sr. If you want to know more about this scammer, you may learn from the link: Alecko Capital, Alexander Pissios 

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Final Thoughts 

Alexander Pissios, the incumbent president of the prominent movie studio in Chicago, encountered a challenging predicament characterized by financial distress and legal complications. Despite having filed for bankruptcy protection and possessing a debt over $1 million.

It is noteworthy that despite Pissios & his wife seeking bankruptcy protection, their obligations continued to exist. Notably, they chose to exclude certain assets, such as a $100,000 loan from Pissios’ uncle, in their attempts to construct the studio.

Pissios was confronted with the prospect of serving a five-year term of imprisonment unless he cooperated in providing evidence against Coli. Coli was accused of engaging in extortion activities, resulting in the acquisition of $325,000 from the film studio. 

7 Comments
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  1. Even after being involved in the fraud of $1 Million, this man got a chance to choose. If I eat a chocolate without paying, they will call me a thief, this is the power of networks.

  2. I am a student and want to start my business in Forex trade, but after reading articles of fraud and scamming, I get shivers.

  3. Alexander Pissios has been making various public appearances, even after the allegations. Seems as if he knew, it doesn’t matter to him at all, he has the best lawyers.

  4. ‘Incurred a gambling obligation amounting to $70,000,’… Seriously!!! Is that even a sort of obligation? If yes, then I incurred an intoxication obligation, help me Christ.

  5. Is he a TV personality? What does he do on TV? I never knew him.

  6. Sports betting, gambling, scam, fraud …. And he is getting a second chance. However, if you disagree with the state, and start a peaceful protest, You are the biggest enemy of the authorities.

  7. Is it merely me, or you too found his face funny. Sorry dude, No offense. 😅

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