John Gotti's Grandson Faces Prison Time for $1.1 Million COVID Relief Scam and Crypto Investment Scheme

Carmine Agnello, the grandson of infamous mob boss John Gotti, has been sentenced to 15 months in prison for scamming the US government's COVID relief funding system out of $1.1 million, with a substantial amount used to invest in cryptocurrency. According to the Department of Justice, Agnello fraudulently obtained multiple disaster relief loans from the Small Business Administration and diverted the funds for personal use, including investing approximately $420,000 in a cryptocurrency business. The US Attorney's Eastern District of New York office revealed 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 fraudster will begin his imprisonment on July 1 and has been ordered to repay the stolen funds. This case is not an isolated incident, as numerous individuals have been caught defrauding the government's COVID relief fund, with some using the stolen money to purchase cryptocurrency or luxury items. According to the US Government Accountability Office, an estimated $135 billion, or up to 15% of the total COVID relief funds, was lost to scams. Agnello's grandfather, John Gotti, was a notorious figure who built a criminal empire through violent means and amassed an estimated $500 million annually from various illicit ventures.