A Wantagh man who was once convicted in a murder for hire case has been accused of loan sharking, Nassau County Prosecutors said.
Francis Bongarzone, 53, who prosecutors said also goes by the name Frankie Chase, allegedly loaned money at over 100 percent interest and threatened borrowers who couldn't pay back.
Bongarzone was arrested Thursday and charged with criminal usury and weapons possession, according to the Nassau County District Attorney.
The bust came after a year long investigation in which it was discovered that Bongarzone loaned out at least $50,000 and collected more than $100,000 interest, according to prosecutors.
A search warrant was executed in the case and Bongazone was found to have possession of a 9mm Glock handgun with two 17 round high capacity magazines, two .38 caliber revolvers with over 70 rounds of ammunition, two switchblades and a "blackjack, " prosecutors said. A blackjack is a leather covered piece of lead designed to be used to knock out victims.
In 1984 Bongazone was convicted of criminal solicitation in a murder for hire scheme. According to court papers, he made arrangements with an undercover cop posing as a contract killer to murder an accident witness.