Thursday, May 14, 2009

Foreclosure for The Mafia Princess, Victoria Gotti?

The Mafia Princess may soon be thrown out of her castle.

Victoria Gotti is a deadbeat on the mortgage for her mansion in Old Westbury, L.I., which was prominently featured in the TV series "Growing Up Gotti."

The daughter of the late Gambino crime boss owes JPMorgan Chase about $650,000 and hasn't made a payment in two years, court papers say.

A four-judge panel of the Brooklyn Appellate Division has granted the lender's motion for summary judgment on the foreclosure and the appointment of a referee to report whether the six-acre property can be sold in one parcel.

Gotti blamed the financial mess on her ex-husband Carmine Agnello, who she says took a $856,000 loan against the home without her knowledge.

She became the sole owner of the home in 2004 and the mortgage went into default while she and Agnello "were involved in a bitter matrimonial action," court papers say. Agnello pleaded guilty to racketeering in 2004. "I won a house that was a booby prize riddled with debt," Gotti told the Daily News.

Agnello was sprung from prison earlier this year after serving about eight years .

Gotti said he still hasn't paid court-ordered alimony or child support for his three sons although he's living large with his new wife in a tony suburb in Ohio. "He still owes the federal government nearly $10 million and yet they still allow him to live this way?" she said.

When their middle son expressed a desire to attend law school, Agnello responded, "'Wow, I'm proud of him, but I have no money,'" Gotti said.

The Long Island mansion, with six bedrooms and seven bathrooms, is on the market for $3 million - marked down from $4 million. It's an eyesore in the exclusive enclave, in need of a fresh paint job and landscaping. The yearly tax bill for the compound, which includes a stable and pond, is $92,000.

Gotti says she staved off a scheduled foreclosure sale in 2005 by agreeing to pay JPMorgan Chase $50,000 up front and $25,000 a month. Gotti made several payments and then stopped, which prompted the bank to declare her in default again.

The appellate court's decision reversed a lower court decision in 2007 that said foreclosure proceedings were premature at the time.

Agnello's lawyer, Scott Leemon, declined comment.

Victoria's brother John Jr., who is facing trial in the fall on murder and racketeering charges, is also beset by money woes. A federal judge shot down the mob scion's bid for taxpayer money for his legal defense.

Thanks to Lisa Colangelo and John Marzulli

2 comments:

  1. I was working in Marion USP in the time Gotti was locked up. During that time there was an elderly gentleman from New York,who was a good friend of John, who was named Frank Sacco.
    Sacco had a life sentence and died in jail. Who was Frank Sacco and how was he connected to the Mob?

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  2. He was my Dad. Did you get know my Father very well at the time you spent working at Marion USP ? I will always cherish the memories and the times that I was fortunate enough to see my Dad as a child. Him and Mr. Gotti did become good friends. Mr. Gotti always made it a point to write me a birthday card every year and call my household every so often on holidays to wish us well. Hope to hear back from you. Would like to hear any stories from someone who knew my Father in his lifetime.

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