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Re: What happens to their money when they die?
[Re: blueracing347]
#815095
11/24/14 12:13 PM
11/24/14 12:13 PM
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Joined: Feb 2011
Posts: 498
Texas
TonyG
Capo
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Capo
Joined: Feb 2011
Posts: 498
Texas
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It is hard to say with any certainty, especially since the heirs and beneficiaries are not going public explaining how they received their illegal proceeds.
Most guys try to launder some of their illegal proceeds into tangible assets during their lifetime. John Gotti Jr. owns several rental houses for example.
Often, illegal cash is used to buy gold and jewels, which are more easily stored than $2 or $3 million dollars in $10 and $20 bills. Gold and jewels can be transferred to heirs without a paper trail, and generally appreciate.
Best way to catch the smart ones? Get an idiot working for them.
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Re: What happens to their money when they die?
[Re: TonyG]
#815149
11/24/14 03:10 PM
11/24/14 03:10 PM
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Joined: Jan 2014
Posts: 889
North Jersey
ItalianIrishMix
Underboss
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Underboss
Joined: Jan 2014
Posts: 889
North Jersey
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Most guys try to launder some of their illegal proceeds into tangible assets during their lifetime. John Gotti Jr. owns several rental houses for example.
It is AMAZING that the government allows convicted mobsters to actually keep ill gotten gains. I seriously don't care if they ratted on the boss of Jupiter, the facts say there is an actual reward for doing the wrong thing. Everyone can not understand why so many people (especially young ones) would want to even enter the mafia. I thought the only way you can leave is dead or in jail for life?.......I think at the mafia induction ceremonies, all inductees are well aware of option 3 which is, to acquire as much sh*t as I possibly can, hide a lot of it and, when I get caught, have enough info to nail the guy ranked above you. Then, you get to do a light sentence AND keep some of the stuff you never would have acquired in a 9-5.......Hmmmmm! why would anyone want to do that?. I WANT TO DO IT and I AM 35...Why not? I will have more in the end! Examples of the escape goats who lived the life and got out with gains from it: Joe Massino - Did like 8 years AND keeping the homes of his wife and Massino's mother as well as some rental properties Gotti Jr. as mentioned above gets to keep stuff and roam the streets. Seems like Michael Franzese is lying to the world. I will almost bet anything that he hid money from the gas tax scam and that is why he is so cheery!
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Re: What happens to their money when they die?
[Re: blueracing347]
#815153
11/24/14 03:21 PM
11/24/14 03:21 PM
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Joined: Aug 2014
Posts: 3,021
far, northwest
Binnie_Coll
Underboss
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Underboss
Joined: Aug 2014
Posts: 3,021
far, northwest
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im sure the Irs would love to find the mobsters money, but, they have good financial advisers it seems. I read where joseph bonanno had cheese factories. joseph profaci had a monopoly in olive oil. the vast amounts of cash are going somewhere, and I suppose well hidden. also, I think if you were an attorney for one of those guys, you would give good advice as to what to do with the money, I don't buy into the big guys dying broke. the money is somewhere, they spend half their life making it, and the other half hiding it.
" watch what you say around this guy, he's got a big mouth" sam giancana to an outfit soldier about frank Sinatra. [ from the book "my way"
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Re: What happens to their money when they die?
[Re: ItalianIrishMix]
#815183
11/24/14 04:47 PM
11/24/14 04:47 PM
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Joined: Jan 2013
Posts: 1,841
SinatraClub
Underboss
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Underboss
Joined: Jan 2013
Posts: 1,841
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Most guys try to launder some of their illegal proceeds into tangible assets during their lifetime. John Gotti Jr. owns several rental houses for example.
It is AMAZING that the government allows convicted mobsters to actually keep ill gotten gains. I seriously don't care if they ratted on the boss of Jupiter, the facts say there is an actual reward for doing the wrong thing. Everyone can not understand why so many people (especially young ones) would want to even enter the mafia. I thought the only way you can leave is dead or in jail for life?.......I think at the mafia induction ceremonies, all inductees are well aware of option 3 which is, to acquire as much sh*t as I possibly can, hide a lot of it and, when I get caught, have enough info to nail the guy ranked above you. Then, you get to do a light sentence AND keep some of the stuff you never would have acquired in a 9-5.......Hmmmmm! why would anyone want to do that?. I WANT TO DO IT and I AM 35...Why not? I will have more in the end! Examples of the escape goats who lived the life and got out with gains from it: Joe Massino - Did like 8 years AND keeping the homes of his wife and Massino's mother as well as some rental properties Gotti Jr. as mentioned above gets to keep stuff and roam the streets. Seems like Michael Franzese is lying to the world. I will almost bet anything that he hid money from the gas tax scam and that is why he is so cheery! Who'd Gotti Jr. & Michael Francese rat on? I can't recall anyone.
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Re: What happens to their money when they die?
[Re: Binnie_Coll]
#815278
11/25/14 06:03 AM
11/25/14 06:03 AM
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Joined: Sep 2014
Posts: 1,442
Alfa Romeo
Underboss
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Underboss
Joined: Sep 2014
Posts: 1,442
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While Robert Lacey claims Lansky was basically broke at the time of his death, his daughter claims he transferred millions to his younger brother, Jake. Agreed he lost millions in Cuba but hardly broke at the time of his death. meyer lansky was much to smart to die broke. he for sure didn't die without passing on his millions, I agree with you. He was the mafia's banker. Of course he wasn't broke. Legend says he set up an offshore bank in Switzerland to hide money for the mob in Swiss bank accounts. Joe Pistone said that the Commission had its own sources of money, money that wasn't kicked up because it was already up. Now we know where that money originally was hidden, some of it at least. Switzerland.
"For us, rubbin'out a Mustache was just like makin' way for a new building, like we was in the construction business."
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Re: What happens to their money when they die?
[Re: blueracing347]
#815282
11/25/14 06:18 AM
11/25/14 06:18 AM
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Joined: Sep 2014
Posts: 1,442
Alfa Romeo
Underboss
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Underboss
Joined: Sep 2014
Posts: 1,442
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I always wondered what happens to these guys' money when they die. Examples: Lucky Luciano, Don Carlo, Albert Anastasia, John Gotti, etc... Luciano wasn't married, who did he leave his fortune to? Guys like Anastasia and Gambino, are their families set for life for generations to come? These guys are multi-millionaires illegally and a little legally. Wouldn't the IRS be watching their family's bank accounts and financial activity following the man's death? Does some offshore bank swallow all of this money? Everyone knows that when Lansky died he had no money, but what about the other guys? I apologize in advance if this has been covered in the past, but I couldn't find anything using the search. I think back in the old days the top money men (Luciano, Lansky, Costello, et al) were sending laundered money to Switzerland. So if they didn't have a method of having a family member getting access to it, that's where it stayed.
"For us, rubbin'out a Mustache was just like makin' way for a new building, like we was in the construction business."
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Re: What happens to their money when they die?
[Re: Alfa Romeo]
#815286
11/25/14 06:36 AM
11/25/14 06:36 AM
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Joined: Dec 2013
Posts: 441
mickey2
Capo
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Capo
Joined: Dec 2013
Posts: 441
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While Robert Lacey claims Lansky was basically broke at the time of his death, his daughter claims he transferred millions to his younger brother, Jake. Agreed he lost millions in Cuba but hardly broke at the time of his death. meyer lansky was much to smart to die broke. he for sure didn't die without passing on his millions, I agree with you. He was the mafia's banker. Of course he wasn't broke. Legend says he set up an offshore bank in Switzerland to hide money for the mob in Swiss bank accounts. Joe Pistone said that the Commission had its own sources of money, money that wasn't kicked up because it was already up. Now we know where that money originally was hidden, some of it at least. Switzerland. sorry thats nothing but hear-say. if you guys want to mystify your heroes just go on that way. any serious researcher will just laugh. To joe pistone - there is no way a mob associate would've known that. hes making himself bigger as he was, as always. not trustworthy at all. please open your eyes a bit. As far as i know, based on proven facts, lansky was broke. and if you consider that he was just the bank, not the owner of the money, it makes def sense. he was out of power after cuba revoluzzed i would guess
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Re: What happens to their money when they die?
[Re: mickey2]
#815290
11/25/14 06:59 AM
11/25/14 06:59 AM
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Joined: Sep 2014
Posts: 1,442
Alfa Romeo
Underboss
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Underboss
Joined: Sep 2014
Posts: 1,442
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his daughter has obv seen nothing of his millions - or do you think she would write a book if she had any monies? Thought so. Just because he left his daughter broke doesn't mean he was broke. Also, just because she says she was left broke, doesn't necessarily make it so. It is the stuff of legends, but if you search online, you can even find the name of Lansky's bank. That's pretty specific. And what Joe Pistone said about the Commission having it's own sources of money is perfectly corroborated when you study the financial structure of the Pizza Connection and how the bosses in America got their cut.
"For us, rubbin'out a Mustache was just like makin' way for a new building, like we was in the construction business."
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