Sons of Miami Subs tycoon who was gunned down by mobsters 20 years ago are locked in legal battle with cousin placed in charge of their trusts – claiming he looted $1 million dollars from their inheritance
- Aristotle and Alexander Boulis are currently locked in a legal battle over stolen trust funds by their cousin Spiro Naos
- The boys’ father was Greek tycoon Gus Boulis, founder of Miami Subs and the fleet of ships known as SunCruz Casinos
- Following the 2001 death of Boulis, the boys’ second-cousin Spiro Naos was named the settlor and trustee of two trusts that each contained a $1 million
- But the brothers discovered that starting in 2005 Noas withdrawn a total of $1million from both their trusts
- In 2020, Miami-Dade Circuit Court determined that Naos failed to properly perform his duties and committed a breach of trust in withdrawing the money
The sons of a Miami tycoon who was gunned down by mobsters 20 years ago have found themselves in a legal battle with their cousin who they say stole up to $1 million from their inheritance.
Aristotle and Alexander Boulis, the sons of murdered Greek tycoon Gus Boulis, are currently fighting over stolen trust funds with their father’s nephew Spiro Naos, who was left in charge of the boy’s trust following Boulis’ murder, the Miami Herald reported.
Following the 2001 murder of Boulis, the boys’ second-cousin Spiro Naos was named the settlor and trustee of two trusts that each contained a $1 million life insurance policy for the boys – who were only five and seven years old at the time of their father’s killing.
Greek tycoon Gus Boulis who was most well known for the cruise casino line he founded in 1994 called ‘SunCruz Casinos’
After being shot Boulis continued to drive about for another mile before crashing into a tree and would be pronounced dead at a local hospital (car pictured)
Despite losing their dad, the boys said Naos was a constant presence in their lives who they ‘loved and trusted like a father,’ they told the Herald.
But they would later discover that starting in 2005 Noas withdrew a total of $1million from both their trusts, the paper reported.
The money was left for them by their father, who ran the popular Miami Subs fast food chain that would eventually expand to 16 states as well as open several locations across Latin America.
But the larger-than-life tycoon was best known for the cruise casino line he founded in 1994 called ‘SunCruz Casinos’ that would transport passengers to international waters, where they could gamble and avoid federal and state laws.
The cruise line was a huge success and became Florida’s largest casino boat operation with a fleet of 11 yachts, the Herald reported.
The feds cracked down on the operation and forced Boulis to sell the business in 2000 due to a law that said only U.S citizens could own such fleets.
He sold the thriving business to New York businessman Adam Kidan in what turned out to be a fraudulent deal.
Aristotle and Alexander Boulis are currently locked in a legal battle over stolen trust funds with their cousin Spiro Naos (pictured right) who was left in charge of their trusts
Boulis would die in February 2001 when one of Kidan’s associate cut him off and shot fired three shots into Boulis’ chest before fleeing the scene (pictured)
Kidan was later convicted of fraudulently obtaining $60 million worth of loans to buy SunCruz. When Boulis demanded return of his casino fleet, Kidan allegedly hired mobsters who whacked Boulis in February 2001.
His son Aristotle Hren-Boulis, who is now 28-years-old, told the Herald the sudden loss of his father was ‘really hard.’
‘I was young, I didn’t know how to handle something like that. I did my best to suppress it and focus on my own life,’ he said.
But after putting their confidence into their cousin, the fact that he was stealing from them was even more gutting, the brothers said.
In December 2020, Miami-Dade Circuit Court determined that Naos failed to properly perform his duties and committed a breach of trust in withdrawing the money from the brothers’ trusts without their knowledge or consent, the Herald reported.
Noas’ attorney Jonathan Noah Schwartz told the Herald that he looks forward to defending himself in court and said he regrets the current state of his relationship with his cousins.
‘His legal positions aside, Mr. Naos remains saddened as to the deterioration of his relationship with the Hren-Boulis brothers,’ Schwartz said.
Schwartz told the Herald that in September 2019, Naos deposited $300,000 into the brothers’ trusts, which he says is $4,000 more than the total Naos ever withdrew when he was a trustee.
But the brothers lawyer, Ricardo Arce said that the $300,000 Naos deposited into their trust does not take into account over a decade of lost interest on the brothers’ funds.
Currently the brothers, who say they still feel betrayed, have not filed a criminal complaint against their cousin but are instead working things through mediation but are willing to take their claims to trial.