Joey merlino and others busted

[Wiseguy]

Mob Bust Said to Prompt Point72, Glenview to Cut Broker Ties
Bloomberg Markets
August 18, 2016


After prosecutors, the FBI and New York police announced racketeering charges against 46 members and associates of organized crime families this month, some of the defendants’ colorful nicknames (“Mustache Pat,” “Nicky the Wig” and “Tony the Cripple”) attracted attention and spawned jokes on social media.

But the name of one defendant, Anthony Cirillo, was no laughing matter to some of the biggest hedge fund operators on Wall Street.

Cirillo is the owner of Princeton Securities Group, a floor broker on the New York Stock Exchange that makes trades for hedge funds and investor groups. Its clients have included Point72 Asset Management -- the reincarnation of Steven Cohen’s SAC Capital -- and Glenview Capital Management, according to people familiar with the matter.

After learning of Cirillo’s arrest, Point72 and Glenview Capital severed ties to the trading company, these people said.

Cirillo’s lawyer, Joseph DiBenedetto, said that all of the firm’s clients “continue to maintain a trading agreement” with the company. “Mr. Cirillo vehemently denies the allegations made against him,” he said. Cirillo has resigned and has no control of day-to-day operations, he said, adding that his client “is focused on clearing his good name and reputation.”

The indictment alleges that Cirillo, 51, was involved in an illegal sports gambling business based in New York, New Jersey and Florida. It makes no mention of any activity that might be related to Princeton Securities or stock trading. Cirillo owns Princeton through a trust, regulatory records show. A person familiar with the matter said he has resigned as a trustee.

Charges Filed

Cirillo, of Englewood Cliffs, New Jersey, turned himself in on Aug. 4, the day the charges were filed, according to the office of Preet Bharara, the U.S. attorney in Manhattan. Most of the other 46 defendants were arrested. Three remained at large, the office said at the time.

Spokesmen for Point72 and Glenview declined to comment.

The conduct described in the 32-page indictment, and ascribed to other alleged members of the enterprise but not to Cirillo, includes casino-style gambling, loan-sharking, credit-card fraud and health-care fraud. Some of the other defendants are also accused of threatening to harm or kill individuals who owed them money or to whom money was owed.

http://www.bloomberg.com/news/articles/ ... roker-ties

[B.]

Great post Chucky, can you elaborate on the Piccolo situation and how he should have stepped aside to avoid all the bullshit in the 90s?

The writing was on the wall, Ciancaglini and Merlino had a big crew and had completely taken over the street tax and a had big coke connect going through the JBM partnership. Piccolo had a bunch of older motherfuckers who were semi-retired and the young guys didn't pay him any mind, he just should have made them and let them take control because Stanfa coming in just ended up alienating the old heads from the Bruno/Scarfo era and the Ciancaglini/Merlino guys because he was an outsider.

I don't think Piccolo had much of a choice while Scarfo was still boss. He was following his cousin Scarfo's orders and Scarfo was trying to hold onto South Philly where he was rapidly losing his grip.

At that point, a lot of the old timers had only small-time gambling and loansharking. Then when some of them were given a new lease under Stanfa, they didn't want to give up their new power to some kids... look at the history of the mob from all over and how often do you see old timers say "Gee, there is no stopping these kids is there? Let's let them win." It doesn't happen very often. Bocchino got killed, then Piccolo and Sparacio got put away for the rest of their lives because of pride/duty/greed/whatever, but that's what happens to all of these guys and old gentleman gangsters are no different. I agree though that if they had been smart they would have stepped down and let nature take its course, but they are mafia members

As for the whole "how much does Philly make now?" discussion, you have to remember that overall they've always been a middle class family. At their peak, many of the members lived middle class lives through a modest combo of legitimate and illegitimate income and worked a fairly regular schedule at their jobs/businesses .

When they died, their families weren't left with some hidden fortune, but more likely property or businesses. There are examples like Angelo Bruno who became very wealthy on his own when he was still just an associate, but you never had the family-wide hold on entire industries or cash cow rackets like in other families. There's no doubt the family isn't making the kind of money it did at its peak, but the lifestyle of the average member doesn't seem too far off from the way it was 50 years ago.

[B.]

Merlino also has to thank LE for helping him take over. If the government hadn't arrested the Stanfa crew, things could have played out much differently.

[SonnyBlackstein]

@Wiseguy: Cirillo any relation to quiet Dom?
@B: good response. Im genuinely surprised Merlino is given validation over Stanfa by many. I think if he hadn't been successful people would a lot less forgiving.
But history is written by the winners, so it's all moot.

[Rocco]

Merlino also has to thank LE for helping him take over. If the government hadn't arrested the Stanfa crew, things could have played out much differently.

I think you are correct. There were too many people gunning for Merlino. Just like John Gotti....the FBI saved his life. Gotti would have gotten clipped eventually as well. Too any people gunning for those guys.

[Pogo The Clown]

Stanfa won before the Feds took him down. Merlino was in prison, Ciancaglini was dead, the rest of their crew was underground and the Stanfa guys had taken control of the street tax. Merlino would have been released later that year at which time the problems would have started again. In the meantime Stanfa would have consolidated things. How loyal would some of his crew remained in the meantime? I'm sure a lot of them would have fallen behind Stanfa ala Tommy Scafidi so they could earn (especially if Stanfa promised to make some of them) leaving Merlino in a much more precarious position.


Pogo

[JCB1977]

Stanfa won before the Feds took him down. Merlino was in prison, Ciancaglini was dead, the rest of their crew was underground and the Stanfa guys had taken control of the street tax. Merlino would have been released later that year at which time the problems would have started again. In the meantime Stanfa would have consolidated things. How loyal would some of his crew remained in the meantime? I'm sure a lot of them would have fallen behind Stanfa ala Tommy Scafidi so they could earn (especially if Stanfa promised to make some of them) leaving Merlino in a much more precarious position.


Pogo

Good stuff Pogo

[JCB1977]

@Wiseguy: Cirillo any relation to quiet Dom?
@B: good response. Im genuinely surprised Merlino is given validation over Stanfa by many. I think if he hadn't been successful people would a lot less forgiving.
But history is written by the winners, so it's all moot.

Quiet Dom had one son, Nicholas, who was whacked under Massino. It was said that Quiet Dom ordered his son's death and they were estranged. He had one daughter, Ann Marie Caggiano

[SonnyBlackstein]

Cheers Pogo & JCB

[PHL_Mob]

This Anthony Cirillo guy used to be under Previte in New Jersey throughout the mid to late 90's and then when everyone went down in 2000 and Previte turned government witness a lot of those Jersey guys that were under Philly and Merlino either were scooped up or went over to the Lucheses Jersey faction because Philly organization was in such bad shape at the time. It seems that this Cirillo guy has since re-established himself under Merlino as he operates in NJ and Florida still. He and his wife and kids are pictured with Merlino and his family all over his Instagram (his wife is smoking hot by the way) so they must be good friends as well as their "business affiliations".

[willychichi]

Crime families couldn't collaborate in East Coast racketeering because being that close clashes with mob politics, say lawyers

Five East Coast mob families working together? Fugheddabout it!

The crime families recently implicated in a massive racketeering bust don't cooperate enough to run a criminal conspiracy, one of the alleged wiseguy's lawyers argued in new court papers.

John (The Tugboat) Tognino's lawyer said federal prosecutors' indictments against 46 accused gangsters earlier this month shows a complete failure to understand how mob politics work.

Prosecutors charged members of the Genovese, Gambino, Lucchese, Bonanno crime families and a Philadelphia offshoot formed the East Coast La Cosa Nostra (Enterprise), an alleged criminal scheme spanning from South Florida to Springfield, Mass.

Read more: http://www.nydailynews.com/new-york/man ... -1.2757325

[Wiseguy]

The hell are these defense lawyers talking about? I understand most of their job is to lie and do whatever they can to get their clients off but there are years and years of cases where mob families have worked together.

[SonnyBlackstein]

It's a reach obviously but the concept of an 'East Coast Cosa Nostra Enterprise' as an entity in of itself is a LE/Media creation.

Obviously different families work together but under their own families, not a new LCN creation, is the lawyers (flimsy) point.

[SonnyBlackstein]

http://gangsterreport.com/springfield-m ... use-walls/

Scott Burntstein gives good background on the Genovese Springfield crew (perhaps a more relevant inclusion in Capeci's weekly then Hoffa et al?).

Good article.

[johnny_scootch]

Obviously different families work together but under their own families, not a new LCN creation, is the lawyers (flimsy) point.

It might not be as flimsy as you think, he may just be onto something. Prosecutors are trying something that hasn't been done before and this lawyers point is the reason. It'll come down to which side of the fence the judge lands on and more than likely set precedence going forward.