LCN white collar crime

Anyone know if todays mafia is doing alot of white collar crime, maybe stock market stuff etc, ponzi scheme's etc. Just curious. Any guys into anything else like real estate scams. Just wondering, there's probaly money in alot of those things if you can get away with it.

Lcn guys have been getting arrested for credit card & bank fraud. There was a muti-million dollar mortgage fraud bust in Texas involving the mob.

The now defunct SF family was involved in real estate scams.

I think lcn guys got pushed out of wall street along time ago.

Posted this on another thread as this topic came up in a somewhat similar fashion around the Philly Mob....

http://citypaper.net/articles/2006-06-29/cb2.shtml

This was another scheme/racket the Philly fam was running a few years ago centered around fixing credit scores for money. Probably not able to run this racket anymore since it required having a guy placed at one of the credit agencies and since we are reading about it I'm assuming the guy got outed...

http://articles.philly.com/2012-10-26/ne...hael-lancelotti

I've also heard of ticket schemes (concert/sporting events, etc) that the Philly guys are involved with, but I am not aware of the details around that just heard about it. I think other fams in NY and NJ ran similar rackets, but again maybe someone else on here can shed some more details on that one...

Then obviously you've got your labor/union rackets which I think to most of the Families in NY/NJ/Philadelphia have their hands in to various extents. Maybe not less so than in the past but still in it to some degree or other.

I've also heard the Merlino/the Philly guys have their hands in ATMs especially at strip clubs etc charging higher fees and what not but that might not be considered "white collar racket" and may even be legitimate as well I'm just not privy to the details, but the article below delves into that below along with other details around Real Estate and the Philly Fam (clearly the family I watch the closest).... I'm sure the NY fams have all kinds of assorted "white collar" and/or sophisticated rackets and schemes going as well.

http://articles.philly.com/2012-02-29/news/31111009_1_joey-merlino-mob-boss-la-cosa-nostra

They have been doing stock market crime from the 70's or before. Real estate yes especially small scale on perspective buyers by the Russians in particular. There are probably a thousand other things like long distance calling cards selling them to immigrants.

There are still mob white collar cases here and there. If I had more time, I'd post some of the more recent ones. But, on the whole, there aren't as many as there was in the 1990's and early 2000's. Like the "pump and dump" stock frauds, for example. The piece the Wall Street Journal did on the mob last year talked about that, though it said the mob is still quick to capitalize on new money making schemes when it finds them. I think white collar scams have always been more or less an "ad hoc" activity for the LCN and not necessarily one of their core businesses.

I agree with ivy, i think it has always been more of an opportunistic venture.

And from what i heard joeys a partner in a small atm venture with only like a half dozen machines which honestly doesn't amount to shit. I actually leased one a few years ago to put in my grandfathers liquor store up there. The fees didn't cover the lease or what the payments would've been if id bought it. Waste of fucking time but that was me when i was 19. two thousand dollars to my name and I thought I was donald trump lol

Good to see you back posting Skinny!