Renato “Gino Gioe, 52, a convicted felon and former body builder tied to a Philadelphia lending company, was arrested by the FBI last week and charged in connection with a loansharking scheme.
In the criminal complaint filed against the Monmouth Beach, N.J. resident, the FBI stated, “Gioe and Individual 1 are both “Associates” of the Gambino Crime Family.”
Individual 1 is only described in the same complaint as “one of the owners of a company engaged in the Merchant Cash Advance or lending business.
The FBI and the Securities and Exchange Commission are both currently investigating the activities of Par Funding of Old City Philadelphia and several associated companies. Par Funding engaged in making loans to businesses since its inception in 2011.
The SEC has filed a lawsuit against Par Funding in Miami. There have been no criminal charges filed by the FBI against Par Funding at this time.
Par Funding’s offices were raided by the FBI two weeks ago along with the home of Joseph LaForte and his wife in Haverford, PA. Several million dollars in cash, $10 million in bank accounts and a private jet were seized.
LaForte is behind bars, held without bail after FBI Agents found 7 weapons in his home. LaForte is a twice convicted felon who is not permitted to have guns. His lawyer argued the weapons were legally purchased by LaForte’s wife after she was robbed at knife point outside her business.
LaForte is being held in the Federal Detention Center in Philadelphia awaiting trial on the weapons offense. He could go to prison for 10 years if convicted.
The complaint outlined Gioe’s role in an alleged extortion and loansharking scheme that victimized a Toms River business owner after he borrowed up to $400,000 from the unnamed Merchant Cash Advance company and then fell behind on his payments on that loan.
According to the complaint, Gioe made several visits to the owner’s place of business and his home. He also allegedly made threats in the following text messages to the owner, described as Victim 1.
On or about May 20, 2019, Defendant GIOE sent “If u [sic] think fir [sic] a second you ain’t paying you are dead wrong. . .”
On or about August 28, 2019, Defendant GIOE sent “U [sic] do realize you are easy to find. . . I have every single address that’s dear. . . Im smarter than u [sic]. . .”
On or about September 6, 2019, Defendant GIOE sent “Every dog has their day. They got hit teams by u [sic] know who going to [location of Victim-1’s residence]. Daddy mommy first.”
On or about September 10, 2019, Defendant GIOE sent “If you think for one second you can walk away from money u [sic] owe your [sic] nuts.”
On or about September 13, 2019, Defendant GIOE sent “Do yourself a favor start deposit 3k in my account a week, be smart brother, real smart. . . you are findable.”
On or about September 16, 2019, Defendant GIOE sent “I see u [sic] enjoyed the Borgata this Saturday nite [sic] . . . eyes everywhere.
On or about September 22, 2019, Defendant GIOE arrived at the residence of Victim-1. Defendant GIOE began screaming at Victim-1, who directed his/her spouse to “call 911”. During this incident, Defendant GIOE stated to Victim-1, in sum and substance, “You can’t run from me” and “I’m going to kill you”.
The complaint goes on to say that Gioe made extortionate lines of credit to Victim 1 and did knowingly and intentionally participate in the use of extortionate mean to collect and attempt to collect one of more extensions of credit.
The document says Gioe made loans to Victim one of $20,000, $30,000 and $54,000, usually in cash and with a check on one occasion. The FBI said weekly payments made on those loans were not counted towards the principal of the loans.
The FBI also alleged that on certain occasions Gioe would loan money to Victim 1 for the purpose of Victim 1 to earn money “playing poker” so he could repay the entire loan with any poker winnings.
During Gioe’s Sept.22, 2019 visit to Victim 1’s home the complaint says the Toms River Police were called to the home where they questioned both men after a load argument and alleged threats were made. Both men then indicated to responding officers that no further police involvement nor a formal report was desired.
Finally, the complaint against Gioe states that “due to this incident and numerous text messages, defendant Gioe’s associates and background and other evidence, Victim 1 has and does fear that delay in making payments to defendant Gioe or failure to make payments to defendant Gioe could result in the use of violence or criminal means to cause harm to the person, reputation or property of himself or herself or to the person of Victim 1’s relatives”
Gioe was released on bail pending a future hearing.
The complaint also includes several paragraphs describing the Gambino Crime Family as a nationwide criminal organization, it’s history and alleged criminal activity as well as the structure and promotion of members to “made” status within the crime family.
It goes on to discuss various ranks within the Gambino Family such as “soldier,” Capo, associates and their responsibilities. It states that members often refer to each other as “friends of ours” or wise guys. It also outlines the sharing of proceeds from criminal activities.
