In April 1985, Franzese was acquitted of racketeering charges. In another case in December 1985, Franzese was one of nine people indicted on 14 counts of racketeering, counterfeiting and extortion from the gasoline bootlegging racket. Iorizzo, who was already sentenced to five years and ordered to pay $1.7 million for his role in the theft of $1.1 million in gas taxes and placed in the witness protection program, began testifying against Franzese and others in their operation in March 1985. On March 21, 1986, Franzese pleaded guilty to one count of racketeering conspiracy and one count of tax conspiracy. Franzese was sentenced to 10 years in prison and ordered to pay $14.7 million in restitution on the federal charges, agreeing to sell his assets including a mansion in Old Brookville, New York, the Miami Gold production company, and use proceeds from the "Knights of the City" film; he was also sentenced concurrently to nine years in prison for state racketeering charges in Florida.