Gennaro "Jerry" Angiulo, the former Patriarca crime family underboss who ran Boston for 20 years until he got busted by the feds in the 1980s, died today at the age of 90 as reported by Shelley Murphy for The Boston Globe:
Angiulo and his three brothers, Donato, Francesco, and Michele were all convicted in February 1986 in the region's first sweeping federal racketeering case against the mob. He was sentenced to 45 years in prison in the case. The son of Italian immigrants who ran a North End grocery store, Gennaro Angiulo rose through the Mafia ranks under Raymond L.S. Patriarca of Providence because of his keen skill at making money. The Angiulo brothers were disciplined hands-on operators, who had a virtual monopoly on the region's illegal gambling and loansharking, according to law enforcement officials. But the Angiulo empire was toppled when the FBI planted bugs in their Prince Street headquarters and at a social club on North Margin Street for three months in 1981, as Angiulo ordered murders and beatings and boasted of his misdeeds. When he was hauled by FBI agents out of Francesco's Restaurant in the North End in 1983, he yelled, "I'll be back before my pork chops get cold." But he was wrong. He wasn't released on parole until 2007. In recent years, he has been living quietly at his home in Nahant.
Earlier this month Laurel J. Sweet reported for the Boston Herald that Angiulo was near death in a hospital in Lynn after suffering kidney failure. Donato died last May at the age of 86, and Francesco, 88, reportedly still lives at the family's former North End headquarters at 98 Prince St.
Robert M. Jaffe, the broker who steered many wealthy Boston and Palm Beach investors to Bernard Madoff's investment fund through both New York-based Cohmad Securities Corp., partly owned by Madoff and of which Jaffe is a vice president, and Jaffe's own Palm Beach-based M/A/S Capital Corp., previously did business with Gennaro Angiulo and his brothers:
Jaffe, under investigation for his ties to the Wall Street investor who authorities say confessed to running a Ponzi scheme, was the stockbroker to Angiulo and his brothers, reputed members of the Boston Mafia, before they were sent to jail on racketeering charges in 1986. He first represented the Angiulos when he worked at the investment firm E.F. Hutton in the 1970s, and the Angiulos followed him when he became the Boston branch manager at Cowen & Co. in 1980, according to a Boston Globe article in 1985 that quoted Cowen's lawyer, Lawrence Leibowitz.
Jaffe's brokerage relationship with the Angiulos first came to light "in an inquiry by federal securities regulators into whether Cowen failed to report large deposits the Angiulos made into their brokerage accounts there" that "was part of a broader federal investigation of alleged money laundering by the Angiulos"; however, "neither Jaffe nor Cowen was ever implicated, and the Securities and Exchange Commission inquiry appears to have ended quietly."