Reputed Mobster Denied Bail in Fraud Case

Reputed mobster Nicodemo Scarfo will stay in jail as he awaits trial on a financial fraud case.

The son of former Philadelphia-area mob boss Nicodemo D. "Little Nicky" Scarfo was arrested Tuesday on allegations that he helped lead a scheme to take over then pillage a Texas mortgage company of $12 million. A federal court judge denied him bail on Friday, ruling he is a danger to the community.

Earlier this week, the younger Scarfo asked for a court-appointed lawyer. A public defender temporarily assigned to him told a judge Scarfo reported that he had only $125.

Apart from the takeover of FirstPlus Financial Group, Scarfo is facing charges that he violated terms of his supervised release from a previous sentence for running an illegal gambling operation.