John "Big Man" Venizelos, 33, is believed to have secured a plea deal from Brooklyn federal prosecutors that will significantly reduce his time in prison - averting the life sentence he faced if convicted at trial, sources said.
But because Venizelos honored the mob's omerta code of silence and refused to hand over information to the feds, sources said, he's expected to face approximately 10-14 years in prison when sentenced eventually by Brooklyn federal Judge Raymond Dearie.
Bonanno crime family member John Venizelos is seen outside Brooklyn Federal Court as he prepares for a hearing on his role in a multi-million dollar pot ring.
Venizelos - who sports horn-rimmed glasses and wears Ralph Lauren Polo ensembles - held a "straight job" before his arrest managing "Jaguars 3", a Brooklyn nightspot run by Vincent "Vinny Green" Faraci, a Bonanno crime family soldier.
The nightclub, located in Brooklyn's Sunset Park neighborhood, attracts patrons that have included several cast members of "The Sopranos” — including Tony Sirico, who portrayed the fictional mob family's “Paulie Walnuts”.
It was his sideline as an alleged drug trafficker, however, that attracted attention to Venizelos.
He was arrested by Drug Enforcement Administration agents earlier this year and charged with being one of the biggest New York customers of French Canadian drug kingpin Jimmy “Cosmo” Cournoyer.
Cournoyer - who is awaiting trial in Brooklyn federal court - allegedly lies at the center of $1 billion narcotics ring and operated through alliances he created between the Hells Angels, the Mexican Sinaloa drug cartel, the Bonanno crime family, and the Montreal Mafia, The Post first reported.
Only weeks after Venizelos' arrest, federal prosecutors accused him of trying to intimidate witnesses who might testify against him.
Prosecutors say Venizelos sent encrypted BlackBerry messages to a colleague explaining that Cournoyer had bankrolled a special "murder fund" to underwrite hits against informants in the high-profile international narcotics case.
Prosecutors also say they seized letters written by an unnamed colleague of Venizelos that discussed the Bonanno associate’s ties to organized crime - including references to sit-downs with captains in various New York La Cosa Nostra families The DEA also utilized informants to secretly record tapes of Venizelos discussing drug deals, officials said, and then seized a number of unlicensed handguns when they searched Venizelos' residence.
John Meringolo, a New York Law School professor who represents Venizelos, initially insisted that the $100,000-plus seized by feds at Venizelos' residence wasn't drug money - it was simply cash for tipping exotic dancers at the "Jaguars 3" club.
Cournoyer's attorney, Gerald McMahon, says he plans to vigorously fight the case against the French Canadian at an upcoming trial this summer.