Joseph Yerardi, Extortion and Illegal Gambling, MA 2016

Joseph Yerardi, 62, of Newton, Anthony Corso, 51, of Cambridge, and Michael Burke, 45, of Winthrop, pleaded guilty to running a brutal illegal gambling operation that bled victims dry through threats of violence and financial coercion. The men admitted to conducting an illegal gambling business from March 2015 through April 2016, and conspiring to collect gambling debts through extortionate means—actions that left debtors fearing for their lives.

Yerardi and Corso went a step further, admitting they conspired to make and actually made extortionate extensions of credit. The operation raked in hundreds of thousands of dollars, enforced not by contracts or courts, but by fists, fear, and threats. One victim reported Yerardi promised to stab him “twenty times” if he didn’t pay. Corso told another he’d “smash your [expletive] head off the car” for defaulting on a debt. These weren’t idle words—they were weapons.

Yerardi has a long, violent history with the federal justice system. In 2009, he was convicted on racketeering, illegal gambling, money laundering, and extortion charges, and sentenced to 100 months in prison. That followed a 1995 conviction on nearly identical charges—including witness intimidation—where he received 135 months. His return to court this week underscores a pattern of criminal conduct built on intimidation and illicit profit.

Judge Denise J. Casper presided over separate hearings and deferred acceptance of the plea agreements until sentencing. Yerardi is set to be sentenced on March 14, 2017. Corso and Burke face sentencing on March 21, 2017. If the court accepts the deals, Yerardi will serve eight years, Corso five years, and Burke 12 to 26 months—each followed by three years of supervised release.

As part of the agreement, all three defendants agreed to forfeit over $70,000 seized during raids and from bank accounts. They also consented to forfeiture money judgments: $300,000 for Yerardi, $60,000 for Corso, and $30,000 for Burke. These figures reflect not only the scale of the gambling enterprise but the federal government’s push to strip organized crime actors of their illicit gains.

The charges of operating an illegal gambling business carry a maximum of five years in prison and a $250,000 fine. The extortion counts allow for up to 20 years per charge, three years of supervised release, and the same fine. While federal sentences often fall below the maximum, the weight of the defendants’ actions—and Yerardi’s extensive criminal record—could push the judge toward the upper end. The case was prosecuted by Assistant U.S. Attorney Timothy E. Moran, with support from the FBI, IRS Criminal Investigation, Massachusetts State Police, and multiple local departments. The message is clear: Boston’s underground economy runs on fear—but the feds are watching.