Gifted mafia boss put away diamonds (7)
I believe the answer is:
donated
'gifted' is the definition.
(donating is a kind of gifting)
'mafia boss put away diamonds' is the wordplay.
'mafia boss' becomes 'don' (term for a mafia leader).
'put away' becomes 'ate' (put away can mean to eat).
'diamonds' becomes 'd' (abbreviation for the card suit diamonds).
'don'+'ate'+'d'='DONATED'
(Other definitions for donated that I've seen before include "Gave" , "Presented" , "Given" .)