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

Wednesday, April 10, 2019

Son of late Genovese boss pleads guilty to racketeering and forfeits $3.8 million

The love child of late Genovese crime family boss Vincent “The Chin” Gigante pleaded guilty to a racketeering conspiracy charge on Wednesday for participating in a scheme to shake down a labor union official for cash.
Vincent Esposito, 51, copped a plea deal with the government and prosecutors say they will not push for a prison sentence of more than 30 months. Esposito, who admitted before a federal magistrate judge that he worked with the Genovese crime family, will also forfeit $3.8 million.
“I knew my agreement was wrong and illegal,” said Esposito, who showed up to court in a gray suit and a baby-blue tie, to Manhattan federal court Judge Sarah Netburn.
Esposito will be back in court on July 10 for sentencing.
Gigante, the former head of the Genovese family who was dubbed the “Oddfather” for his penchant for shuffling around Greenwich Village in a bathrobe and slippers, fathered Esposito with his mistress, Olympia Esposito.
Esposito was charged along with two co-defendants with running a scheme to extort payments from a labor union official with threats of violence and loss of the officer’s job. One of the co-defendants, Frank Cognetta, himself a labor union officer, was also charged with running a kickback scheme in which he took bribes for steering union benefit plans into certain investments.



Post a Comment