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

Thursday, June 17, 2010

Collecting on loans was like 'Social Security payments' for aging mobster: turncoat

A mob turncoat spilled the beans today on his former employer -- saying the geriatric Colombo underboss on trial for racketeering loved collecting high interest on loans he doled out.
Guy Fatato, a former mobster-turned-informant, said Colombo crime family underboss John "Sonny" Franzese once collected a huge vig on a $30,000 gambling debt he had handed out.
"It's like Social Security for the mobster crowd [who make] these loans with high-interest payments," Fatato testified before a Brooklyn federal court jury.
Fatato wore a wire for the feds and caught Franzese making the outlandish boasts.
John "Sunny" Franzese at Brooklyn Federal Court.
Franzese, 93, was once a regular at the Copacabana nightclub, where he hobnobbed with Frank Sinatra and Sammy Davis Jr. He also had a stake in the classic porn film "Deep Throat."
Authorities say behind the scenes another informant recorded him bragging about rubbing out Mafia rivals and advising that the best way to dispose of body parts was to dry them out with a microwave and grind them up with a garbage disposal.
Franzese was convicted in 1967 in a bank robbery, sent to prison and paroled in the late 1970s. Though never convicted of another crime, authorities say he rose to second-in-command of the Colombos.
He also kept meeting with mob associates in public places -- a habit that violated his parole and landed him back in prison multiple times. Two years ago, he was arrested on the racketeering indictment and later freed on $1 million bail.


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