Paul John "Frankie" Carbo was an Italian-American New York City Mafia soldier in the Lucchese crime family who operated as a gunman with Murder, Inc. before transitioning into one of the most powerful promoters in professional boxing.

Murder, Inc. was an organized crime group active from 1929 to 1941 that acted as the enforcement arm of the National Crime Syndicate – a closely connected criminal organization that included the Italian-American Mafia, the Jewish Mob, and other criminal organizations in New York City and elsewhere. Murder, Inc. was composed of Jewish and Italian-American gangsters, and members were mainly recruited from poor and working-class Jewish and Italian neighborhoods in Manhattan and Brooklyn. It was initially headed by Louis "Lepke" Buchalter and later by Albert "Mad Hatter" Anastasia.