Philip Abramo (b. 1945), aka "The King Of Wall Street", is a caporegime in the New Jersey DeCavalcante crime family who was involved in security fraud and murder.
Born in New York, Abramo is one of the very few Cosa Nostra mobsters to have attended college. In 1971, he was convicted of possessing stolen property. In 1973, Abramo was convicted of conspiracy to distribute heroin and sentenced to seven years in federal prison.At some point, Abramo joined the DeCavalcante family and eventually became a made man, or full member, of the family. He became involved in extortion, loansharking, and microcap stock fraud schemes. Abramo was the hidden control person behind Sovereign, a prominent micro-cap stock company and its sister trading firm, Falcon Trading. Abramo also controlled two penny stock firms, Toluca Pacific Securities and Greenway Capital. Abramo allegedly controlled other small-cap stock dealers through brokers and traders owing allegiance to him.
As Abramo's status rose in the DeCavalcante family, he frequently served as a liaison between the DeCavalcantes and the five crime families of New York. The FBI identified him as a frequent visitor to Gotti prior to his imprisonment in 1992. Abramo is also the brother-in-law of Alan Longo, a member of the Genovese crime family.
In 1994, Abramo was indicted in New Jersey for allegedly swindling 300 people nationwide out of $1 million by selling them fraudulent lines of credit. In October 2000, Abramo was indicted on charges of racketeering, conspiracy to murder, and securities fraud. On July 4, 2003, Abramo was convicted of five murders, including those of D'Amato and Weiss, as well as racketeering and loan sharking charges. As of April 2008, Abramo is serving a life sentence in the United States Penitentiary (USP) Lewisburg in Pennsylvania.