Arthur (Artie Todd) Tortorello: Sly Master of Securities Fraud

Arthur (Artie Todd) Tortorello was a soldier in the Gambino Family who, with his boss, Carmine Lombardozzi, was involved in major securities fraud.

Arthur (Artie Todd) Tortorello was born in 1913 at 1983 62nd St., in Brooklyn. He was a lifelong resident of Kings County and resided in later years at 1657 56th Street in Brooklyn.

Arthur (Artie Todd) Tortorello

He had a younger brother, Peter “Petey Todd” Tortorello, born in 1915 (NYPD # 140056), who resided at 2171 Kimball St., in Brooklyn. Petey Todd was also an inducted member of the Gambino Family under the auspices of Carmine Lombardozzi and his brother.

FBI # 471455, NYCPD # B-77539, NJPD # 14532. CTPD # 2188, MA-PD # 4444

Tortorello was identified by the mid-1950s as a top Gambino associate.

In later years, both the FBI and U.S. Senate hearing testimony would name him as a documented soldier.

He always plied his trade in Brooklyn, and although in later years he would operate in far-flung cities and states such as Connecticut and Massachusetts, Brooklyn was always his home base, specifically the Bay Ridge, Bensonhurst, and Sheepshead Bay sections.

The legendary Carmine Lombardozzi was reputed to have been his “caporegime" and Tortorello was arguably a first among equals in Carmine’s eyes.

Tortorello was a “key” operative and soldier in the Lombardozzi regime and simpatico with his boss in his patterns of operation and choice of racket activities.

Tortorello's criminal activities included shylocking, business infiltration, stock fraud manipulations (boiler rooms), stolen and counterfeit securities, extortion, strong-arm tactics, and fencing stolen property.

He was identified during SEC hearings as Lombardozzi’s partner and both were considered among the biggest loansharks in the city.

It was alleged they had out on loan several million dollars any given day.

In fact, their regime, which numbered over 20 made members plus numerous mob associates, all “specialized” in pushing shylock money.

His lengthy criminal record (over 20 arrests) started in 1929 when he was only 16 years old:

1929 - burglary (indeterminate sentence)

1932 - grand larceny

1933 - burglary (10 years)

1934 - petty larceny

1935 - attempted burglary

1936 - kidnapping and conspiracy (10 years)

1943 - parole violation

1943 - grand larceny (5 years)

1953 - atrocious assault and battery

1959- business law violations

1959 - forgery

1960 - mail fraud

1960 - violating securities laws

1960 - conspiracy (1 year)

1961 - mail fraud (3 months)

1963 - income tax evasion (18 months)

1963 - obstruction of justice

1963 - conspiracy

1963 - parole violation

1963 - mail fraud and conspiracy

1964 - securities fraud

1969 - stolen securities

1970 - mail fraud

1971 - interstate transportation of stolen securities

By the late 1950s, he had turned his attentions to the stock market and Wall Street where he and Carmine would wreak havoc for several decades.

They each, separate and together, would be repeatedly indicted over the years for everything from operating “boiler rooms” with worthless stock offerings, stealing stocks, bonds, and securities, and then fencing them to fraudulent and counterfeit stocks and bonds.

Among his closer Mafia criminal associates were Carmine (The Doctor) Lombardozzi, John Lombardozzi, George Lombardozzi, Daniel Marino, Michael (Mike Scandy) Scandifia, Dominick Mundo, Louis (Louie Flip) De Filippo, George (Swifty) Marinelli, and Edward Colao.

In 1931, Tortorello drew his first prison term as a 16-year-old juvenile, serving his sentence in Elmira Youth Reformatory in upstate New York!

He was among five hoods arrested in 1959 for heading an international “boiler room” fraud ring that “pumped up” penny stocks to the public.

In this scam, ring members cold-called an unsuspecting public throughout the United States, Paris, London, Beirut, and Lebanon.

They pumped thousands and thousands of stock shares of near-worthless paper!

In 1960, Tortorello was shot in the abdomen by a jilted lover in a love triangle after he was confronted at his girlfriend's Westside apartment by her ex-lover. Tortorello pulled through but was in dangerous condition for a while.

In 1963, Tortorello and his boss Lombardozzi were among six hoods indicted on tax evasion charges for evading over $1,000,000 in profits to the IRS from “boiler room” stock sales. Other defendants included De Filippo and several Jewish mob associates.

In 1964, Artie Todd, as the boss, was one of six arrested in a stock fraud/bank fraud case for using worthless stock from a defunct company as collateral for various bank loans.

He had several other stock-related arrests during these years.

In 1970, he was among eight indicted in a major stock fraud ring that defrauded nationwide investors of hundreds of thousands of dollars pumping worthless securities investments to the unsuspecting public.

Tortorello was identified as the ringleader. Four others were picked up in Utah, Texas, and California.

They were all charged with 102 counts variously of attempted grand larceny, conspiracy, and mail and stock fraud.

The accusations were that they promoted worthless stock in a fictitious company that “invented” a self-refrigerating container that would revolutionize the refrigerator industry.

Tortorello died in 1980 after a short illness at the relatively young age of 67 years old.

Until next time..."The Other Guy"

Arthur (Artie Todd) Tortorello: Sly Master of Securities Fraud

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