Grandson of Notorious Mob Boss John Gotti Sentenced for Covid Relief and Crypto Scam

Carmine Agnello, grandson of the infamous John Gotti, has received a 15-month prison sentence for his role in defrauding the US government's Covid relief funding system out of $1.1 million, with the proceeds being used to invest in cryptocurrency, according to the Department of Justice. The US Attorney's Eastern District of New York office stated that Agnello obtained multiple disaster relief loans from the Small Business Administration under false pretenses and diverted the funds for personal use, including investing approximately $420,000 in a cryptocurrency business. Agnello submitted false information to the SBA between April 2020 and November 2021, claiming the funds were for his autoparts and recycling business in Queens, including employee salaries. The US Attorney, Joseph Nocella, condemned Agnello's actions, stating that he 'shamefully lined his own pockets with government and taxpayers' dollars' during the pandemic. Agnello's case is not an isolated incident, as numerous individuals have been found guilty of defrauding the government's Covid relief fund, including Bruce Choi, who illegally obtained $2 million in pandemic-related business loans, and David T. Hines, who fraudulently obtained $3.9 million. According to the US Government Accountability Office, an estimated $135 billion, or roughly 15% of the total Covid relief funds, was lost to scams. Agnello's grandfather, John Gotti, was a notorious figure who exerted power through brutal violence and amassed a significant fortune through various illicit ventures, including extortion, gambling, and stock fraud, before being sentenced to federal prison, where he died of cancer at the age of 61.