NEW YORK – Ronald “Ronnie G” Giallanzo, an acting captain in the Bonanno organized crime family of La Cosa Nostra, was sentenced by Chief United States District Judge Dora L. Irizarry to a total of 14 years’ imprisonment for racketeering conspiracy, including predicate acts of extortionate extension and collection of credit, as well as a related violation of the conditions of supervised release imposed for a prior racketeering conviction.
As part of his plea agreement with the government, the Court also ordered Giallanzo to pay $1.25 million in forfeiture and sell his mansion in Howard Beach, Queens, which was constructed using the criminal proceeds of the defendant’s loansharking business. Giallanzo was also ordered to pay $268,000 in restitution to his victims. Giallanzo pleaded guilty in March and June 2018.
Between 1998 and 2017, including eight years while incarcerated on a prior racketeering conviction and for nearly two years while on supervised release, Giallanzo ran a loansharking operation in which he loaned millions of dollars in cash at exorbitant weekly interest rates. Giallanzo then directed a crew of Bonanno family soldiers and associates to enforce the collection of the debts through violence and threats of physical injury. Giallanzo used more than $1 million of the extortion proceeds to purchase, reconstruct and furnish a mansion, which featured five bedrooms and five bathrooms, radiant heated floors, high-end appliances, a built-in aquarium, wine cellar, home gym, three kitchens and a salt water pool with a waterfall.