•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Carmine Agnello, the grandson of former mob boss John Gotti, has been sentenced to 15 months in federal prison for defrauding the U.S. government’s COVID-19 relief program out of approximately $1.1 million, according to the U.S. Attorney’s Office for the Eastern District of New York.
Prosecutors said Agnello fraudulently secured multiple Small Business Administration (SBA) disaster relief loans and redirected the funds for personal gain. The government alleged that he submitted false applications between April 2020 and November 2021, claiming the money would support his Queens-based auto parts and recycling business.
Instead, authorities said Agnello diverted the funds for personal use, including investing about $420,000 into a cryptocurrency venture. Prosecutors emphasized that the relief funds were intended to help struggling businesses and employees during the pandemic.
U.S. Attorney Joseph Nocella condemned the conduct, saying Agnello “shamefully lined his own pockets with government and taxpayers’ dollars.” As part of the sentence, Agnello is required to repay the stolen funds and is scheduled to surrender for imprisonment on July 1.
Law enforcement officials said the case reflects a wider pattern of COVID relief fraud. The U.S. Government Accountability Office estimates that up to $135 billion—about 15% of total pandemic relief funds—may have been lost to fraudulent activity.
The government also cited related cases involving cryptocurrency-linked fraud, including:
The case also drew attention because of Agnello’s family background. His grandfather, John Gotti, led the Gambino crime family and was convicted in 1992 on multiple criminal charges. The latest conviction highlights continued concerns about financial fraud, misuse of relief funds, and the role of cryptocurrency in some alleged schemes.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
