01 November 2011

Alleged Philly Mobsters Busted in Extortion, Takeover of Public Company: Feds

Alleged Philly Mobsters Busted in Extortion, Takeover of Public Company: Feds

Reputed “associates” of the Lucchese organized crime family are facing federal charges stemming from the takeover of a Texas mortgage company, the U.S. Attorney for New Jersey announced Tuesday.

The U.S. Attorney's Office says Nicodemo Scarfo Jr., the son of imprisoned former Philadelphia-area mob boss Nicodemo Scarfo Sr. who was known as “Little Nicky," was among the 13 people under federal indictment.

USA LOCAL NEWS’s Ted Greenberg was the only reporter on scene Tuesday morning as Scarfo Jr. was escorted by federal authorities.

Salvatore Palullo, the other alleged “associate” of the Lucchese crime family, was also among the 13 under indictment on racketeering and other charges connected with the takeover of FirstPlus Financial Group.

According to the U.S. Attorney’s Office, the 13 arrested were all involved in the “alleged extortionate takeover of a publicly traded company.” 

The takeover began in 2007, authorities say.

The indictment alleges the suspects funneled money into shell companies in New Jersey and Pennsylvania and used the funds for their own benefit.

Some of the suspects were not yet arrested by Tuesday morning, according to the U.S. Attorney's Office.

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