Grandson of Notorious Mob Boss John Gotti Sentenced to Prison for Covid-19 Relief Fraud and Crypto 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 fraud scheme, in which he obtained $1.1 million from the US government's Small Business Administration and invested at least half of it in cryptocurrency businesses, according to the Department of Justice. 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, including employee salaries. Instead, he used approximately $420,000 of the proceeds for personal gain, including investments in a cryptocurrency business. Agnello's actions were deemed shameful by United States Attorney Joseph Nocella, who stated that he 'shamefully lined his own pockets with government and taxpayers' dollars' during the pandemic. The case is not an isolated incident, as statistics from the US Government Accountability Office indicate that up to 15% of Covid-related relief funds, approximately $135 billion, were lost to scams. Agnello's grandfather, John Gotti, was a powerful figure in the Gambino crime family, with estimated annual earnings of $500 million from various illegal ventures, and was eventually found guilty on 13 criminal counts and sentenced to federal prison, where he died of cancer at the age of 61.