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Rizzuto Family Still Wealthy #586928
11/30/10 05:15 PM
11/30/10 05:15 PM
Joined: Apr 2009
Posts: 4,089
Brooklyn, New York
Dapper_Don Offline OP
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Dapper_Don  Offline OP
Underboss
Joined: Apr 2009
Posts: 4,089
Brooklyn, New York
The Rizzuto crime family might be in decline, its leaders mostly dead or missing, but it's far from destitute.
The family's black-market income and registered businesses remain intact despite the murder of patriarch Nicolo (Nick) Rizzuto.
It will prove difficult for police to unravel the complex financial empire that the Rizzutos took 30 years to build.
Mafia Inc., a new book about the mob by La Presse journalists Andre Noel and Andre Cedilot, says Rizzuto revenues include cash from a protection scheme that strong-arms as many as 600 Montreal-area businesses.
News reports last year also suggested the Rizzutos have their hands deep in the construction industry, taking a 5% cut on contracts held by several firms. Cedilot, a retired crime reporter, says the family's power and influence remains entrenched.
"Being rich and investing in legitimate businesses gives them a network of contacts," Cedilot told QMI Agency. "The Rizzutos have been in power for 30 years in Montreal. They brought in tonnes of hashish, cocaine and heroin from the start. They are immensely rich."
Cedilot says the Rizzutos also launder money through car dealerships, food services, real estate and even stock markets. All of the business activity is run by intermediaries.
A QMI Agency examination of public records paints a partial picture of Rizzuto above-board holdings.
The names of Nick and his son, Vito, do not appear in Quebec business records for the family construction firm, Renda Construction. But their wives, Libertina Rizzuto and Giovanna Cammalleri, are listed as shareholders. Vito's wife is also listed as a shareholder in the funeral home, Loreto Funeral Complex. Nick Rizzuto's body will be displayed there this weekend.
The wives are listed as sole owners of the two family mansions built in the 1980s on a quiet street in north-end Montreal. Nick Rizzuto's home was evaluated last month at $714,500 while his son's was valued at $1,000,100.
Transferring the homes to their wives' names would make it difficult for law enforcement to seize the properties under proceeds of crime laws.
Cedilot says another sign of the family's reach were their plans to bankroll a $7-billion project to build a suspension bridge between their native Sicily and the Italian mainland. The bridge was never built, but had the project gone ahead, it would have likely been the largest money-laundering operation ever undertaken by the Mafia.
Other Rizzuto financial activity
2010: Nick Rizzuto fined $209,200 for dodging taxes on $5.2 million funnelled to Swiss bank accounts
2010: Family fights a $900,000 tax bill for the sale of a recycling company that reportedly netted them $7.5 million.
1986-1988: Civil court documents show that Nick's son Vito used cash-wielding middlemen to buy a $1.4-million share in Penway Explorers, a mining firm later embroiled in a stock-manipulation scandal.
http://fivefamiliesnyc.blogspot.com/


Tommy Shots: They want me running the family, don't they know I have a young wife?
Sal Vitale: (laughs) Tommy, jump in, the water's fine.


While in jail, Nick Sr. got $381,737.46 tax refund [Re: Dapper_Don] #741768
09/26/13 09:36 AM
09/26/13 09:36 AM
Joined: Jul 2011
Posts: 2,635
A
antimafia Offline
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antimafia  Offline
A
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Joined: Jul 2011
Posts: 2,635
Originally Posted By: Dapper_Don
[snip]
Other Rizzuto financial activity
2010: Nick Rizzuto fined $209,200 for dodging taxes on $5.2 million funnelled to Swiss bank accounts
2010: Family fights a $900,000 tax bill for the sale of a recycling company that reportedly netted them $7.5 million.[snip]


The Canadian press is still abuzz with the news published yesterday that Nick Rizzuto Sr. received from the Canada Revenue Agency a cheque labelled "income tax refund" in 2007 while he was still in prison.

It's also highly unusual for anyone whose taxes are in arrears to receive a tax rebate.

Link:

http://www.cbc.ca/news/canada/montreal/r...zzuto-1.1868426

Excerpt:

Revenue Canada corruption feared over $400K cheque to Nicolo Rizzuto
Big rebate issued to mob boss even though he owed $1.5M to tax man

CBC News
Posted: Sep 25, 2013 5:59 PM ET Last Updated: Sep 25, 2013 10:40 PM ET

The Canada Revenue Agency issued a rebate cheque for nearly $400,000 to a top Quebec Mafia figure even though he owed the tax department $1.5 million at the time, heightening concerns of possible infiltration of the agency by organized crime.

Details about the payment to former Sicilian mob boss Nicolo Rizzuto were unearthed during a three-year investigation by journalists at Radio-Canada, CBC's French-language sister network, into allegations of corruption at the tax agency's Montreal office, which the RCMP have been probing since 2008.

The $381,737.46 cheque was made out to "Nick Rizzuto" and addressed to his house on Antoine Berthelet Avenue in north-end Montreal, a street known as "Mafia row" because it was home to several major players in the city's Sicilian mob.

The cheque is labelled "income tax refund" and is dated Sept. 13, 2007. Rizzuto was in jail then, having been arrested the year prior and charged with extortion, bookmaking and drug smuggling as part of the biggest police crackdown on the Italian Mafia in Canadian history.

Court records show that at the time, he also owed the tax department $1.55 million, which the Canada Revenue Agency tried to collect by getting a tax lien on his home....


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