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William J. Lupo was connected with Frank J. Valenti and the Magaddino family crime syndicate of upstate New York. My research has found that Lupo and James Cannarazzo were involved in a counterfeiting ring in the 1950s. The two passed multiple $20 counterfeit bills at a supermarket in November 1960. An alert cashier detected the bills as fake. She informed her manager who called the police. Lupo was also caught up in loansharking during his life as a criminal.