One of the biggest moneymakers for the Mafia families has been through loansharking, and in February 1965 the FBI's New York Field Office prepared an 87-page report for Director J. Edgar Hoover on so-called shylocking which details the racket and identifies its players:
The following is list of prominent shylocks in the Greater New York area. The list is by no means complete, inasmuch as virtually every member of "La Cosa Nostra" at one time or another engages in shylocking. However, it is felt that those listed below should be considered the most prominent.
Each day Friends of Ours is republishing two entries from this list.
Joseph Yacovelli, also known as Joseph Iacobelli, Joseph Iacovelli, Joseph Yacobelli, Joseph Yocovelli
Yacovelli, who has FBI number 4321436, was born on January 4, 1928. He resides at 26 Prince Street, New York City.
Yacovelli is a close associate of known hoodlums Joseph Colombo, Nicholas Forlano, Carmine Persico, Jr. and others.
Yacovelli has an arrest record from 1945, including arrests for burglary - investigation, Selective Service - no card, forgery, grand larceny, consorting and unlawful entry.
In February, 1963, Confidential Source 6 advised that Joseph Yacovelli was a member of the Joseph Profaci "family" of "La Cosa Nostra," but had left with Larry and Joe Gallo. In June, 1964, Confidential Source 6 advised that Yacovelli was now a member of the Joseph Colombo "family" of "La Cosa Nostra." He stated he is a close associate of Carmine Persico, Jr. and is primarily engaged in shylocking and policy activities.
Ettore Zappi, also known as Terry Zappi, Anthony Russo, Tony Zappa, Anthony Zappi
Zappi, who has FBI number 386326, was born July 4, 1904 in Naples, Italy. He resides at 30 Club Drive, Massapequa, Long Island, New York, and has a winter residence at 2764 Northeast 17th Street, Fort Lauderdale, Florida. Zappi has been identified as a very close associate of Carlo Gambino, who is his next doo neighbor and also associates with known hoodlums Frank Gagliardi, Thomas Altamura and Frank Dapolito.
Zappi has a criminal record dating from 1925, including arrests for felonious assault, possession of a dangerous weapon and liquor law violations.
Confidential Source 4 advised in January, 1963, that Zappi is a "caporegima" in the Carlo Gambino "family" of "Cosa Nostra" and is actively engaged in shylocking.