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

Carmine Agnello, the grandson of notorious mob boss John Gotti, has been sentenced to 15 months in prison for his role in a Covid-19 relief fund scam, in which he fraudulently obtained $1.1 million from the US government's Small Business Administration and invested approximately half of the proceeds in cryptocurrency businesses, according to the Department of Justice. In a statement, the US Attorney's Eastern District of New York office revealed that Agnello submitted false information to secure multiple disaster relief loans, claiming the funds were for his autoparts and recycling business in Queens. Instead, he used the money for personal gain, including investing around $420,000 in a cryptocurrency business. The fraud occurred between April 2020 and November 2021, with Agnello set to begin his prison sentence on July 1. 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 caught defrauding the government's Covid relief fund, including Bruce Choi, who illegally obtained $2 million in pandemic-related business loans to buy cryptocurrency, and David T. Hines, who used $3.9 million in relief funds to purchase a Lamborghini. 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 exerted power through brutality and was eventually convicted on 13 criminal counts, earning him a significant fortune through extortion, illegal gambling, loan-sharking, and stock fraud before his death in federal prison.