Grandson of Notorious Mob Boss John Gotti Sentenced to Prison for Covid-19 Relief Fund Scam and Cryptocurrency Scheme

Carmine Agnello, the grandson of notorious mob boss John Gotti, has received a 15-month prison sentence for his role in a $1.1 million Covid-19 relief fund scam, in which he invested a substantial amount in cryptocurrency, according to the Department of Justice. The US Attorney's Office for the Eastern District of New York announced that Agnello had fraudulently obtained multiple disaster relief loans from the Small Business Administration, using the funds for personal gain, including investing approximately $420,000 in a cryptocurrency business. Between April 2020 and November 2021, Agnello submitted false information to the SBA, claiming the funds were for his autoparts and recycling business in Queens, including employee salaries. US Attorney Joseph Nocella stated, 'During the height of the pandemic, the defendant shamelessly used government and taxpayers' dollars for his own gain, which he must repay as part of today's sentence.' Agnello is set to begin his prison term on July 1. This case is not an isolated incident, as numerous individuals have been caught 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, up to 15% of the total Covid relief funds, approximately $135 billion, were 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 activities, including extortion, gambling, and stock fraud, before being sentenced to federal prison, where he died of cancer at the age of 61.