Luigi "Baby Shacks" Manocchio, reputed ex mob boss, granted $500K bond...but wait

(CBS/AP) PROVIDENCE, R.I. - A federal magistrate in Rhode Island has granted $500,000 bond to the reputed former boss of the New England mob, but federal prosecutors say they will fight the decision by bringing it to a higher-ranking judge.

Luigi "Baby Shacks" Manocchio is accused of extorting protection money from strip clubs and adult bookstores. He has pleaded not guilty to charges of racketeering, extortion and conspiracy.

Magistrate Judge David Martin on Tuesday granted Manocchio's request to be released after family members agreed to post their homes as collateral. The judge said Manocchio could be freed once the homes are appraised.

Prosecutors said Manocchio is a flight risk and a danger to the community. They said they will ask a federal district judge to review the magistrate's decision.

More on Crimesider

Jan. 21, 2011 - Luigi Manocchio, aka "Baby Shacks": Mafia Nicknames Front and Center in Roundup