Joe Isgro (born c. 1948) is an American former record promoter and a reputed soldier in the Gambino crime family.[1] In the 1980s, Isgro was at the center of investigations into the role of payola in the music industry.[2][3]
Early life
Isgro was born in Philadelphia, Pennsylvania. He enlisted in the U.S. Marine Corps and at the age of 19, he was presented with a Purple Heart for his bravery and wounds received during combat in the Vietnam War. His term with the Marines ended in 1968.[4]
After several years with Motown, Isgro left and became involved in the formation of EMI Records, a division of Capitol Records. Isgro was brought onto EMI to handle the promotion staff of the new label on the West Coast.[4]
Isgro then developed Los Angeles Recording Company (LARC), distributed through MCA Records. LARC signed acts The Chi-Lites, The Dells, The Staple Singers and Bonnie Pointer. Soon after the formation of LARC Records, Isgro established a second label, Private I Records, distributed through Columbia Records. The first release of Private I Records was Matthew Wilder’s "Break My Stride", which peaked at number one on the US chart position. It would be the first of Private I's 27 charting singles.[4]
Currently,[when?] Isgro is a producer at Raging Bull Productions His projects include the films Lucky Luciano, Pablo Escobar and The Stone Pony.[6] Isgro secured the rights for the Luciano story in 2007 and the film is currently[when?] in pre-production.[7]
According to an FBI affidavit, Isgro and a crew of collectors and enforcers extorted hundreds of thousands of dollars from scores of victims, charging interest rates of up to 5% a week. The loan sharking operation had been going on since 1994, the FBI said.[11]
According to criminal complaints filed in the case, a Rancho Palos Verdes, California, man, Bernard Beyda, complained to Beverly Hills police in January that he was threatened after he had difficulty making "loan" payments, which included 5% in weekly interest, to Saitta.[12]
On July 30, 2014, Isgro pleaded not guilty in New York State Supreme Court to charges of gambling, conspiracy, and money laundering. He was released on $250,000 bail.[13]