Grandson of Notorious Mob Boss John Gotti Sentenced to Prison for Covid-19 Relief Fraud and Crypto Scheme

Carmine Agnello, the grandson of notorious mob boss John Gotti, has been sentenced to 15 months in prison for his role in defrauding the US government's Covid-19 relief funding system out of $1.1 million, which he then used to invest in cryptocurrency. According to the Department of Justice, Agnello fraudulently obtained multiple disaster relief loans from the Small Business Administration and used the funds for personal gain, including investing approximately $420,000 in a cryptocurrency business. The US Attorney's Eastern District of New York office stated that Agnello submitted false information to the SBA between April 2020 and November 2021, claiming the proceeds were for his autoparts and recycling business in Queens. The fraud occurred during the height of the Covid-19 pandemic, with Agnello 'shamefully lining his own pockets with government and taxpayers' dollars', according to United States Attorney Joseph Nocella. Agnello is not the only individual to have defrauded the government's Covid relief fund, with numerous cases resulting in court action. Statistics from the US Government Accountability Office reveal that roughly $135 billion, or up to 15% of the total funds, were lost to scams. Agnello's grandfather, John Gotti, was a notorious figure who exerted power through brutal violence and amassed significant wealth through various illicit ventures, including extortion, gambling, and stock fraud.