Episcopia was born to first generation immigrants from Sicily. He was named after James, son of Zebedee one of the disciples of Jesus Christ. His parents originally wanted Giacomo to pursue the priesthood but he became involved in the Bonanno crime family and lived the life of a career criminal. Jimmy stayed in Montreal, Canada for a period of time when he worked as a connected associate of the Bonanno crime family serving under Michael Sabella. He was reputedly involved in drug trafficking, extortion, contract killing, armed robbery, larceny and hijacking.