A lifelong resident of Old Bridge Township, New Jersey, Consalvo reportedly joined the North Jersey-based DeCavalcante crime family during the disappearance in October 1991 of underboss Louis "Fat Lou" LaRasso. Consalvo, Gregory Rago, and Anthony Capo allegedly murdered LaRasso in return for becoming made men, or full members, of the family. Consalvo is a nephew of Carmine and Francis Consalvo who are in-laws to Bonanno crime family capo Frank Lino. He is also the brother-in-law of DeCavalcante crime family capo Philip C. Abramo. Louis holds a Financial Industry Regulatory Authority brokerage license. In the mid-1990s, Consalvo and Rago began working in a social club on Mott Street in New York, as well as operating various criminal activities on Manhattan, which eventually led to a dispute between the New Jersey and the New York families. At a sit-down in New York, reputed DeCavalcante crime family acting boss, Giacomo "Jake" Amari and Consigliere Stefano "Steve the Truck Driver" Vitabile represented the family, along with Gambino crime family captain/street boss Nicholas "Little Nick" Corozzo and Colombo crime family acting consigliere Vincenzo "Vinny" Aloi, where the representatives of New York argued that Consalvo's operations should've gone to one of the Five Families, as those criminal operations were in New York City, and not New Jersey. The conflict was eventually resolved peacefully when it was ruled that the DeCavalcante crime family could no longer 'make' members outside of New Jersey and South Philadelphia, which was another area that the DeCavalcantes had traditionally recruited from.
Consalvo and Rago began operating in New Jersey, and held their criminal interests in labor racketeering, loansharking, illegal gambling and extortion activities. In 1997, Amari died and Vincent "Vinny Ocean" Palermo seized control of the DeCavalcante crime family.
On October 19, 2000, 50 DeCavalacante family members were indicted on federal racketeering charges. Consalvo was charged with participation in the 1991 LaRasso homicide, loansharking, the operation of an illegal bookmaking business and a conspiracy to commit securities fraud. Consalvo accepted a plea agreement from the government and in 2002 was sentenced to 20 to 25 years in prison.
In 2013 he was made acting capo. In 2015 he was promoted to an official capo. His brother in law Phil Abramao allegedly holds great influence within the family; even though he is in prison he is able to communicate through Louie.