Sebastian "Benny" Biondo was part of a loansharking ring that operated in Suffolk County, New York in the late 1960s. Biondo served forty months in prison, mostly at the Auburn Correctional Facility in Cayuga County, New York. Found guilty on November 24, 1970, Biondo and his co-defendants were denied new trials by Judge Gordon Lipetz. The ring was closely affiliated with Mafiosi Carmine "Charlie Wagons" Fatico and his lieutenant Frank DeFelice. The loansharks charged usurious interest rates of up to 250%.