The grandson of a mafia boss was sentenced to 15 months in prison for fraudulently obtaining $1.1 million in COVID-19 relief funds from the U.S. government and investing a significant portion of it in cryptocurrency, the Department of Justice announced. According to CoinDesk, Carmine G. Agnello, grandson of John J. Gotti, boss of the Gambino family, one of New York City's five major mafia organizations, submitted false information to the Small Business Administration (SBA) between April 2020 and November 2021. He stated that he planned to use the funds for his auto parts and recycling businesses, including employee salaries, but it was revealed that he actually used them for personal purposes. In particular, he is known to have invested in a cryptocurrency business. The specific business in which he invested has not been disclosed.
