Carmine Agnello, the grandson of infamous mob boss John Gotti, has been sentenced to 15 months in prison for his role in a Covid relief funding scam. According to the Department of Justice, Agnello deceived the US government's Small Business Administration into providing him with $1.1 million in disaster relief loans, which he then used to invest in cryptocurrency businesses. The US Attorney's Eastern District of New York office revealed that Agnello submitted false information to obtain the loans, claiming the funds were intended for his autoparts and recycling business in Queens. Instead, he diverted approximately $420,000 into a cryptocurrency business.
Agnello's actions have been widely condemned, with United States Attorney Joseph Nocella stating that he 'shamefully lined his own pockets with government and taxpayers' dollars' during a time of great need. The case is just one of many instances of Covid relief fund fraud, with statistics from the US Government Accountability Office suggesting 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. He was eventually found guilty on 13 criminal counts and died in federal prison in 2002.