A sweeping federal indictment unsealed in the United States District Court for the Northern District of Indiana outlines what prosecutors describe as a long running, multi-state illegal gambling enterprise centered in Lake County.
According to the indictment, the operation allegedly led by James Gerodemos, known as “Jimmy the Greek,” and Dean Gialamas functioned as a structured criminal organization involving more than 20 individuals with defined roles including leaders, bookies, collectors, and enforcers.
Federal prosecutors allege the group ran an extensive illegal sports betting business from at least 2021 through April 2026. The organization reportedly used offshore style gambling websites, phone lines, and text messaging to take bets on sporting events nationwide.
Unlike legal sportsbooks, bettors were allegedly given lines of credit, allowing them to place wagers without upfront payment creating large gambling debts. Bookies working under the organization handled bettors directly, collecting losses and paying out winnings.
Authorities say the operation:
* Used coded accounts and passwords to manage bettors
* Tracked wins/losses digitally
* Conducted collections in cash, checks, wires, and apps like Zelle
* Laundered money through businesses and disguised transactions as legitimate payments
Two local restaurants, Gino’s Steakhouse in Merrillville and Paragon in Hobart, are alleged to have been used as hubs to collect and distribute gambling proceeds.
SUPER BOWL BETTING AND HIGH-STAKES GAMBLING
The indictment also details a major side operation involving Super Bowl “line pool” cards. These gambling sheets reportedly sold for $500 to $25,000 per line, generating between $700,000 and $900,000 annually tied to the Super Bowl alone.
ALLEGATIONS OF EXTORTION AND THREATS
Beyond illegal gambling, prosecutors accuse members of using threats and intimidation to collect debts.
One section of the indictment outlines a conspiracy involving a victim who allegedly owed gambling debts. Investigators detail repeated calls, texts, and escalating threats, including:
* Attempts to track down the victim’s home and workplace
* Contacting the victim’s family members
* Sending individuals to confront the victim in person
* Explicit threatening voicemails and messages
In one instance, a person associated with the group allegedly traveled to Texas to confront the victim and demand payment.
SURVEILLANCE AND COUNTER-SURVEILLANCE
The indictment further claims members took steps to detect law enforcement activity. In April 2026, one defendant allegedly followed an undercover agent at high speeds on I-65 in what investigators described as counter-surveillance tactics.
FEDERAL CHARGES
The defendants face a range of federal charges, including:
* Operating an illegal gambling business
* Hobbs Act extortion conspiracy
* Collection of credit through extortionate means
* Money laundering
* Wire communications in illegal gambling
SCOPE OF THE CASE
Prosecutors allege the operation:
* Involved five or more individuals
* Operated continuously for years
* Generated significant daily revenue
* Extended well beyond Northwest Indiana into other states
WHAT’S NEXT
All defendants are presumed innocent unless and until proven guilty in court. The case is expected to move through federal court in Hammond.
