Chin's Son Back Home in Upper East Side Townhouse on $10M Bond

Vincent (Chin) Gigante's son was released last week on bond, a whopping $9.8 million bond that included $1 million cash and the family's Upper East Side townhouse, the Daily News reported.

Vincent Esposito and his father, legendary boss of the Genovese crime family.

Vincent Esposito, 50, also must hire 24-7 security and install surveillance cameras at the front and back doors of the East 77th street townhouse, which is valued at $8.3 million.

Esposito and four other reputed Genovese mobsters were arrested in January and charged with running a longtime racketeering scheme involving extortion and other crimes. He pleaded not guilty.

After three months in MCC, Esposito was "thrilled to be out," his attorney, Jeffrey Lichtman, told the News.

The man himself didn't have much to say other than, "No comment, no thank you," and "Please don't come back here" when daily news reporters went knocking there yesterday.

Vincent is back where he was when the Fed's nabbed him, in the townhouse with his mother where the antics of his wily father once drew intense law enforcement scrutiny. (Esposito owns it with his mother and two sisters.)

The  armed security guard he must hire is "to prevent any unauthorized exit." This could reportedly set Esposito back about a half million, and Lichtman said  he plans to appeal that requirement. In addition, as per the agreement, real-time video surveillance must be installed at the front and back exits. The trial begins on Sept 24.

Olympia Esposito, the Chin's longtime mistress (they are Vincent's parents), took ownership of the townhouse in 1983 when mobbed-up record company executive Morris Levy put the building into her name for $16,000. At the time the townhouse was valued at $1 million.

Indicted in New York's Southern District Court, (download PDF here) with Esposito were Genovese capo Steven (Mad Dog) Arena, 60; Frank Giovinco, 50; Frank Cognetta, 42; and Vincent D’Acunto, Jr.

The case centers on a 15-yearlong extortion scheme of a union official by Esposito, Arena, and associate D'Acunto Jr. 

The Fed's seized the cash from Esposito.

Tightening the noose is cooperating witness Vincent Fyfe, Chin's nephew. Gang Land News broke the news about the cooperator's identity exclusively. 

At the time of his arrest, the FBI conducted a search of the townhouse and discovered two lists of made members of the Genovese crime family; $3.8 million in cash stuffed inside old ammunition boxes, sacks, shoe boxes and envelopes; and the .... "weapons"....