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Canadian bizman admits cocaine-boat plot
By KITTY CAPARELLA
Philadelphia Daily News
caparek@phillynews.com 215-854-5880
Jul 24, 2008
Rossen Ivanoff, 32, developed an entrepreneurial spirit after he left his native Bulgaria and became a Canadian citizen. With homes in Toronto and Miami, he was doing well, buying cars and shipping them to Europe for resale, among other business transactions.
That is, until last year, when he began discussions to buy a stolen yacht, hide kilos of cocaine inside and ship both to Europe to sell illegally.
Ivanoff's intended big score ended abruptly on April 20, 2007, in Mount Laurel, when he was arrested after giving an undercover drug agent $60,000 - this after an initial payment of $360,000 - toward the half-million dollars he had agreed to pay for the yacht and cocaine.
Yesterday, Ivanoff pleaded guilty to one count of attempt to distribute and to possess to distribute cocaine before U.S. District Judge Joseph Rodriguez in Camden federal court.
Ivanoff hopes to be deported to Canada to serve his prison term.
"He has suffered enough," said his attorney, Stephen Lacheen.
"He hasn't seen his wife and kids in 15 months and wants to go home."
Under advisory sentencing guidelines, Ivanoff faces a federal prison term of 46 to 57 months at his Oct. 27 sentencing.
He'll be credited with the 14 months he's been in the Federal Detention Center in Philadelphia.
The maximum is 20 years in prison and a $1 million fine.
As part of his plea agreement, Ivanoff admitted that in November 2006, he began discussing business transactions with two men about shipping cars to Europe.
But when he began to talk about the possibility of shipping a stolen yacht, one of the business associates introduced him to "Dave Melendez," the undercover drug agent, on Jan. 19, 2007.
On April 13, 2007, the undercover agent showed Ivanoff a $2 million yacht in a Burlington County boatyard, from where it supposedly would be stolen.
Later that day, Ivanoff admitted, he gave the undercover agent the first down payment - $360,000 in cash - inside a duffel bag, for the yacht.
A week later, he handed over what he thought was $60,000 for 2.5 kilos of cocaine, but he had included an extra $500.
The fledgling entrepreneur was immediately arrested, and federal agents seized his $100,000 Mercedes Benz, $2,000 cash and $5,000 in Wal-Mart gift cards, both inside the car, and $1,000 in cash, which Ivanoff was carrying.
"The government was pleased to be able to relieve him of $420,000 and his $100,000 Mercedes that he drove to the meetings" to discuss the illegal deal, said assistant U.S. Attorney Howard Weiner.
As for the balance due from the big score, Weiner quipped, "he gave us an IOU." *
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