Persico is among a new breed of sophisticated, computer-smart wiseguys. Instead of illicit drugs, prostitutes, labor racketeering, gambling and loansharking, his turf was Wall Street and his crew was a horde of corrupt stock brokers.

A licensed stockbroker himself since 1988, Persico surrendered to authorities on Monday to begin serving a 65-month prison term for fleecing hundreds of investors out of millions of dollars in various stock scams. His restitution bill, still being computed, will total more than $5 million.

He has worked at or controlled numerous brokerages that were cited in stock fraud cases by federal and state authorities in the last decade. His crews of brokers in Manhattan, Staten Island and New Jersey imposed a six-cents-a-share

On Jan. 13, 2000, an FBI bug caught Persico, representing the interests of the Colombo family, at a meet with Bonanno capo Robert (Little Robert) Lino (left) and others in the 16th floor conference room at DMN Capital Investments at 5 Hanover Square in Downtown Manhattan.

At the time, Persico was juggling four scams, according to court papers. Two involved stock fraud conspiracies with top officers and shareholders of Manhattan Soup Man, which sold prepared soups to restaurants, and the Ranch#1 fast food chain that features grilled chicken sandwiches.

Company officers sought to raise money through private sales of their stock at inflated prices and were willing to pay exorbitant commissions, often as much as 50%, to the mobbed up brokers. Sooner or later, but mostly sooner, the timeworn Wall Street axiom of "what goes up, must eventually come down" would kick in and the unsuspecting investors would take a bath.

The mob brokers were relentless schemers.

"Hypothetically, if I'm ABC Napkin Company and I wanted Ranch#1 Chicken to use my napkins, could you make that happen?" Persico asked James Chickara, vice chairman of Ranch#1.

"It's not easy, but it could be done," said Chickara.

The meeting was interrupted several times by calls to Persico's cell phone. Finally, he barked into it: "Do me a favor. Call all your brokers into your

"I'd like to get started," he apologized to his hosts, "but I got to take this fucking phone call. I got to blast these guys. You know what you do (while I wait,) explain to me some background on the soup deal."

"This is a gourmet soup made famous by Al Yeganah, the famous soup Nazi on (the hit TV show) Seinfeld," said Chickara as he handed Persico a folder of news clippings about the product.

Seconds later, Persico's cell phone rang, and all ears were tuned to Persico.

"Am I on speaker?" he asked. "Alright. There's something ....called the 'Know Your Client Rule.' Now I don't expect you to know everything about your client, but I do expect you to know when your client is fucking alive or dead. Now this guy Rogers died on Dec. 1. There were 11 trades done after Dec. 1. His executor is calling up the company asking for an explanation...."

After digesting the soup and chicken deals, Persico rushed off to meet Colombo underboss John (Jackie) DeRoss to seek permission for a scheme to divert $10 million in pension funds from Local 400 of the Industrial & Production Workers Union. The crime family installed Persico as treasurer of the local in June, 1999 -- days after

his cousin Alphonse allegedly ordered the killing of Local 400's former treasurer, then-Colombo underboss William (Wild Bill) Cutolo, (left) according to court papers.

Permission never came, however, and Local 400's pension funds remained intact, much to the chagrin of James Labate, a close Lino associate and partner in DMN Capital, according to conversations recorded on Feb. 25, 2000.

DeRoss declined to approve the pension fund rip-off. He and Persico were feeling "heat" from the "feds" investigating Cutolo's murder and DeRoss decided against it, Lino told Labate.

During the conversation, Lino said the words "that guy," extended his pinky and index fingers and curled his middle and ring fingers into his palm to indicate Cutolo, said FBI agent Kevin Barrows, who identified the gesture in court papers as "the 'Hook 'Em Horns' signal commonly associated with the University of Texas (Longhorns) and thereby a reference to 'Wild Bill.'"

"I saw Frankie, he's got a lot of heat, a lot of heat. When he said he's sick, that means he's got a lot of heat," said Lino.

Labate spelled out the significance: "In other words, something happens to Frankie then I'm out my money."

"There's many people looking at Frankie, people who pass Frankie in the street and want to beef him. That is the only fuckin' tool right now, that the heat is on full board. Frankie is hot as a pistol, and now he's going to go throw himself into a union! He's out bar hopping and drinking, partying, carrying on, they're watching this kid like he's John Gotti. He's fuckin' nuts. Instead of being low key right now, he's out there throwing his jets around. They'll deflate him in a second."

"Listen to me. You think Frankie's one thing. I know Frankie's another thing. I know when Frankie has heat and aggravation, Frankie melts. When the FBI goes knockin' on Frankie's door, they're gonna have to stick an apple in his fuckin' mouth to shut him up....I'm not sayin' he's gonna be a rat. He'll have a heart attack on the spot. I don't think he'll ever be a rat 'cause he won't live two minutes. His cousins will put him in a butcher's window -- he'll be hangin' like a side of beef."