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

Carmine Agnello, grandson of infamous mob boss John Gotti, has been sentenced to 15 months in prison for his role in a $1.1 million Covid relief fund scam, with the proceeds partly 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 a $420,000 investment 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 funds were for his autoparts and recycling business in Queens. The fraud occurred during the height of the Covid-19 pandemic, with Agnello set to begin his prison term on July 1. US Attorney Joseph Nocella noted that Agnello 'shamefully lined his own pockets with government and taxpayers' dollars,' which he must repay as part of his sentence. Agnello's case is not an isolated incident, as numerous individuals have been caught defrauding the government's Covid relief fund, with statistics from the US Government Accountability Office indicating that 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 a significant fortune through various illicit ventures before his death in federal prison.