• Dr. Konstantinos Zarkadas took out $3.7million in loans last year between March and July
  • He said the money was to help his struggling businesses amid COVID closures
  • He used the money on fancy cars, a luxury yacht and Rolex and Cartier watches
  • The father-of-three pleaded guilty to fraud in court in New York last week 
  • He has not yet been sentenced but he faces up to 30 years when he is.

The Department of Justice announced the charges in a press release on Friday.

Between March 2020 and July 2020, Dr. Zarkadas applied for 11 loans from the government, claiming they were to help keep his struggling businesses afloat.

He was given a total of $3.7million, and funneled the money through various bank accounts.

He also withdrew more than $1,000 in cash which prosecutors say he used to satisfy judgements against him and to lease luxury cars.

It’s unclear what put Zarkandas on the radar of the authorities, but he was arrested and last week pleaded guilty to pleaded guilty to disaster relief fraud and wire fraud.

His sentencing date has not yet been scheduled.

The married father-of-three lives in a property in Glen Cove that is estimated to be worth over $1million.

He is a celebrated member of the local community, who offered ‘free testing for Covid-19 in addition to antibody testing’, according to local social media posts.

Zarkandas deleted his social media accounts, but his 18-year-old daughter flaunts a glamorous life on hers.

In October 2020, she posed in Glen Cove on a luxury yacht for a series of Instagram shots. It’s unclear if she was on the boat her father purchased or not.


  1. “koutsi maria ” living in a cape-cod in Flushing/Bayside can sell her house for a million plus… come on— that’s below average for 40×100 in Queens!
    Show mercy on that count….as for the yacht– where’s the photo?


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