Very little is known about Russetto's background, however the fact that upon returning to Lost Heaven, he seems very experienced with shooting and fighting, which hints he may have some form of previous criminal background.
The Mafia II Mobile game offers two endings. In the first ending, he lives if he kills Frank Vinci. Though in the second ending, dies if he spares him, as Vinci organises Russetto to be stung and killed by the Empire Bay Police Department for his crimes. Since Vinci is seen alive in the ending of Mafia II, which is set well past the events of Mafia II Mobile, this reveals Russetto's death to be the canon ending.