Former Gambino associate turned New Jersey councilman accused of running loansharking ring while in office

This material may not be published, broadcast, rewritten, or redistributed. ©2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by LSEG. New Jersey Councilman John Alite, a well-documented former top enforcer for the Gotti crime family, was arrested on a slew of corruption and extortion charges after allegedly running an illegal loan-sharking ring from public office. A former associate of the Gambino crime family-turned New Jersey councilman was arrested on loansharking and extortion charges after allegedly running an illegal loansharking ring while in office. Councilman John Alite, 63, of Englishtown, was arrested on Friday and charged with multiple counts of theft by extortion, corporate misconduct, usury and terroristic threats, according to the New Jersey Attorney General's office. A second suspect, Stephen Locrotondo, 67, was arrested on usury and conspiracy charges. Officials say that Alite and Locrotondo worked together to give loans with extreme interest rates, while Alite wou