Always dressed to the nines in expensive attire and diamond jewelry, he often congregated in the bars and restaurants that dot Emmons Avenue in Sheepshead Bay, where he held court with his mob disciples and mafia contemporaries. Other favorite hangouts were The Golden Gate Motel in Sheepshead Bay and the New Corners Restaurant at 7201 5th Avenue.
In his time, Carmine Lombardozzi was known as one of the premier racketeers operating in Brooklyn and Manhattan. He was active in many varied enterprises, but among his most notorious activities was heading a multimillion-dollar loan shark operation and the many stolen stocks and forged securities scams that he perpetrated against Wall Street’s brokerage houses.
He had the well-earned reputation as a “Shylock’s Shylock”, in that he often loaned money to smaller loan sharks to finance their operations.
In fact, many members of his personal crew were encouraged to “push” money “on the street” to increase the overall bankroll generating revenue for the regime.
The regime often leveraged these loan debts of recalcitrant borrowers to infiltrate their businesses, and stock brokerage houses that Lombardozzi thereafter pilfered by “busting out” or falsely bankrupting the company, or to pressure stockbrokers into committing illegal acts in order to pay back the usurious loans.
Stock market manipulation and securities theft became another steady endeavor of his regime.