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Press Release

Vincent Esposito Sentenced In Manhattan Federal Court To 24 Months In Prison And Forfeiture Of $3.8 Million For Racketeering Conspiracy

For Immediate Release
U.S. Attorney's Office, Southern District of New York

Geoffrey S. Berman, the United States Attorney for the Southern District of New York, announced that VINCENT ESPOSITO was sentenced today to 24 months in prison by U.S. District Judge Victor Marrero for conspiring to commit racketeering offenses with members and associates of the Genovese Crime Family of La Cosa Nostra.  Judge Marrero also imposed financial penalties, including approximately $3.8 million in forfeiture, a $20,000 fine, and restitution to be determined.  ESPOSITO previously pled guilty on April 10, 2019, before U.S. Magistrate Judge Sarah Netburn. 

U.S. Attorney Geoffrey S. Berman said:  “By his own admission, for more than a decade Vincent Esposito made millions with members of the Genovese Crime Family by extorting payments, demanding kickbacks, committing fraud, and instilling fear.  Today Esposito has been sentenced to prison for racketeering conspiracy.”

According to the Indictment and statements made during public court proceedings:

La Cosa Nostra, also known as the “Mob” or the “Mafia,” operates through entities known as “Families.”  One of the Families operating in the New York City area is the Genovese Crime Family.  For years, continuing until 2017, ESPOSITO conspired with other members and associates of the Genovese Crime Family to commit a wide range of crimes to enrich themselves, including multiple acts of extortion, honest services fraud, and bribery.  Among other things, ESPOSITO directed the long-running extortion of a union official (“Official-1”) for annual tribute payments of more than over $10,000, and had a number of lower-ranking members of the enterprise collect money and convey threats to Official-1 on Esposito’s behalf.  In another extortion scheme, ESPOSITO’s co-conspirators extorted a different union official (“Official-2”) and a financial adviser (the “Adviser”) for a cut of commissions made from union investments.

At the time of ESPOSITO’s arrest, the Federal Bureau of Investigation (“FBI”) executed a search warrant on his home and seized more than $3.8 million in U.S. currency hidden throughout the residence, along with an unregistered handgun, ammunition, brass knuckles, and lists of made members of the Genovese Crime Family.  Under the terms of his guilty plea, ESPOSITO agreed to forfeit the more than $3.8 million seized by the FBI as criminal proceeds resulting from the offense. 

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In addition to the prison term, ESPOSITO, 51, of New York, NY, was sentenced to three years of supervised release, and was ordered to forfeit $3,816,685.59 and to pay a fine of $20,000.

Mr. Berman praised the outstanding investigative work of the FBI, the U.S. Department of Labor’s Office of Inspector General and Office of Labor-Management Standards, the New York City Police Department, and the Special Agents of the United States Attorney’s Office for the Southern District of New York.

The case is being prosecuted by the Office’s Violent and Organized Crime Unit.  Assistant U.S. Attorneys Kimberly J. Ravener, Jared Lenow, and Jason M. Swergold are in charge of the prosecution. 

Updated July 19, 2019

Press Release Number: 19-225