Monacello officially a rat and will testify against Philly mob boss Ligambi and others

November 26th 2011 | Posted by UnderBoss

 

A motion filed this week confirmed what many Philadelphia Mafia insiders had been speculating on for the last few months that reputed Philly mobster Louis “Bent Finger Lou” Monacello has turned rat. Monacello has agreed to plead guilty and become a cooperating witness and will testify against his co-defendants. Monacello was charged along with 11 others which included reputed Philadelphia mafia boss Joseph Ligambi in a racketeering case. Details of Monacello’s plea agreement have been filed under seal and are not yet available for public scrutiny.

 

 

Louis “Bent Finger Lou” Monacello

 

 

The testimony of Monacello is expected to drastically bolster the charges of loansharking , extortion, and illegal gambling in the upcoming racketeering case. Authorities have described Monacello as a point man for high ranking Philly mobster George Borgesi while running a gambling and loansharking ring in Delaware County targeted back in 2007. Monacello had meetings with both Borgesi in prison and Ligambi in South Philadelphia to discuss the gambling operation. Borgesi is currently in prison serving a 12 year sentence for racketeering and was due for release early next year but the current indictment could add up to 10 more years to his prison stay.

The credibility of Monacello is expected to be challenged by the defense teams. Some sources have described Monacello as a “wanna be” mobster who just used Borgesi’s name to increase his standing on the streets. One source said that Monacello was a loose cannon and that Borgesi didn’t know half the things he was doing. Monacello was said to have clashed with fellow reputed mobsters Martin Angelina and Joe Ligambi over the gambling operation and previously pleaded guilty to plotting to have Angelina beaten over an outstanding loansharking dispute.

The news of Monacello’s decision to become a federal witness came as no surprise to the co-defendants or their attorneys. Ligambi’s attorney Edwin Jacobs Jr said ” Ray Charles in a darkroom would have figured it out. We can identify the obvious”. Warning signs were clear once Monacello who along with five other co-defendants were ordered to be held with out bail was suddenly released after prosecutors withdrew their opposition to his bail status. Monacello now has apparently vacated the home that he lived in for several years in the Packer Park section of South Philadelphia. Speculation now is that Monacello is believed to be living in Ventnor.

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