On Wednesday in Brooklyn federal court, John Ragano, also known as “Bazoo,” a member of the Bonanno organized crime family, was sentenced by United States District Judge Hector Gonzalez to 37 months in prison for extortionate collection of credit in connection with a $150,000 loan.
The sentence will be served after Ragano finishes his 57-month sentence for the conspiracy to engage in the extortionate collection of credit of the same victim. Additionally, as part of the sentence, Ragano was ordered to pay the government $3,000 in forfeiture.
In early 2021, Ragano loaned the victim $150,000 in cash and required him to make interest payments of approximately $1,800 a week. These payments did not reduce the principal of the $150,000 loan…