In September 1983, Balistrieri and his two sons were indicted on charges of skimming over $2 million in unreported income from the Fremont Hotel and Casino and the Stardust. This was the first case in which federal authorities had successfully connected mobsters from four different states. On October 9, 1983, Balistrieri was convicted on five illegal gambling and tax evasion charges. While awaiting sentencing on extortion and bookmaking charges, Balistrieri declared his innocence; he told the press, “The first time I heard the word, ‘Mafia,’ was when I read it in the newspapers.” On May 30, 1984, Balistrieri was sentenced in Milwaukee to 13 years in prison and fined $30,000. His sons were convicted of extorting a vending machine businessman and each received two years in prison.
In September 1985, Balistrieri was tried in Kansas City, Missouri with eight other associates for skimming an estimated $2 million of the gross income of the Argent Corporation from Syndicate casino operations. Federal prosecutors further accused Balistrieri of skimming the unreported income and distributing it to organized crime figures in Kansas City, Chicago, Milwaukee, and Cleveland. In failing health, Balistrieri pleaded guilty to two counts of conspiracy in exchange for dropping federal charges, which included attempting to conceal ownership of a casino to skim profits and interstate travel to aid racketeering. He also attempted to shield his sons, John and Joe, from any charges.
On December 31, 1985, Balistrieri pleaded guilty in Kansas City to conspiracy and racketeering and was sentenced to 10 years in prison (to run concurrently with his 13-year sentence from 1984). Close to achieving a seat on the ruling Mafia Commission in New York, Balistrieri was thwarted by this prison sentence.
On November 5, 1991, Balistrieri was released early from federal prison due to his poor health. In December 1992, Balistrieri was admitted to St. Mary’s Hospital (now Columbia St. Mary’s) in Milwaukee, reportedly for colon surgery.
On February 7, 1993, Frank Balistrieri died.
