Updated news on the Gambino, Genovese, Bonanno, Lucchese and Colombo Organized Crime Families of New York City.

Friday, March 29, 2013

Mobster turned rat gave stock broker beating after losing money in the market

This mobster has his own ideas about how to regulate Wall Street.
Bonanno wiseguy Giuseppe “Joey” Gambina pummeled his financial adviser when he lost thousands of dollars in a penny stock that Gambina demanded he invest in — against the broker’s advice, according to testimony during a Brooklyn federal court trial yesterday.
Broker Mark Zagotti said he ended up in Gambina’s Elmhurst basement with one man holding him while the mobster administered a savage beating.
“They were punching and kicking,” Zagotti said.
Gambina threatened to kill him, mentioned getting his shotgun, and demanded $80,000 from the broker — even though that was far more than the penny-stock losses, Zagotti said.
JOEY GAMBINA Allegedly had broker beaten.
JOEY GAMBINA Allegedly had broker beaten.
On another occasion, two menacing men approached Zagotti on the street — one with a towel wrapped around his arm, suggesting a concealed pistol — and told him to call Gambina.
On the phone, Gambina referred to the ominous visitors, warning, “Next time, they’re not going to come to talk,” Zagotti testified.
In the end, Zagotti was urged by another client to seek help from Bartholomeo Vernace, a Gambino crime family capo.
Vernace — now on trial on unrelated double-murder charges — was understanding and said, “Everyone knows there’s risk in the market,” according to Zagotti.
Vernace squashed the problem, Zagotti said, and now prosecutors are using his testimony to prove he associated with mobsters and has ties to racketeering.



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