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Alfredo Morelli was a friend of Richard Fisk. They met in Europe, when Richard was traveling. Together they started to plan the downfall of Richard's father the Kingpin.
Major Story Arcs
When the Kingpin reemerged in Manhattan, he spent his time reorganizing his criminal syndicate. He called the Rose to his office and informed him that he knew Rose's identity to be his son Richard. Alfredo pretending to be his son (he even went through plastic surgery to look exactly like his friend) removed Rose's mask and accepted the offer to work for and learn from him.
The Name of The Rose
After abandoning the Rose alias, Alfredo gave the Rose mask to Sergeant Blume. Alfredo however was turning more and more like Kingpin over time and Sergeant Blume started to rethink his plan. After Alfredo put a hit on Spider-Man using Rose's name, Sergeant Blume called a meeting and was killed by Alfredo there.
While Alfredo was still pretending to be Richard Fisk, he was contacted by the new Rose, new going by extended name Blood Rose. However the Blood Rose was the real Richard Fisk. Alfredo didn't much like the new Rose and planned on killing him and the two set a meeting, Richard Fisk agreed to it because he too wanted to kill Alfredo. Spider-Man interfered with both of their plans. Richard Fisk managed to fire upon Alfredo in the struggle, and he fell into the Hudson River. Spider-Man tried to save him but found no trace of Alfredo.
My Enemy's Enemy...
Alfredo Morelli later resurfaces living on the island and steals a gauntlet of Nightwatch. Calling himself The Gauntlet he again went after Richard Fisk. Spider-Man intervenes with their battle and reveals both of their identities to the cops, when they are arrested.