Reputed Gambino associate Michael Scarpaci pleaded guilty yesterday to investment-adviser fraud for his role in a Staten Island-based "'boiler room' stock operation that duped investors out of a cool $20 million" as reported by Mitchel Maddux for the New York Post. The Wall Street wannabe still faces extortion, loansharking and gambling charges in an unrelated racketeering case brought last April against several alleged Gambino defendants.
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