He was accused of being the killer of Roberto Calvi, nicknamed "God's banker", because he was in charge of Banco Ambrosiano and his close association with the Vatican Bank.

According to the pentito Giuseppe Marchese, Di Carlo was an influential mafioso and a very competent drug trafficker connected with the Corleonesi Mafia clan.

Di Carlo was described as an elegant and intelligent mafioso who received an education at the prestigious Jesuit college of Gonzaga in Palermo where he met the prince Alessandro Vanni Calvello, who would be best man at his marriage.

Di Carlo and Vanni Calvello were partners in the nightclub "Il Castello" in San Nicola Arena, just outside Palermo on the highway to Messina.

Di Carlo was expelled (posato) from Cosa Nostra, because of a conflict about a lost shipment of heroin or an unpaid consignment of hashish.

Di Carlo created an infrastructure to facilitate the smuggling operations: he owned a hotel, travel agencies and import-export companies.

[3] In June 1985 The British HM Customs and Excise and the Royal Canadian Mounted Police (RCMP) seized 60 kilograms of heroin in a controlled delivery.

In an exclusive interview with W-FIVE, Di Carlo confirmed the allegation that the Sicilian Mafia considers Canada to be the best place in the world to conduct their criminal businesses.

[9] In July 1991 the pentito Francesco Marino Mannoia claimed that Di Carlo had killed Roberto Calvi, nicknamed "God's banker", because he was in charge of Banco Ambrosiano, in which the Vatican Bank was the main shareholder.