Originally Posted By: PHL_Mob
Actually there was a Real Estate racket in Philly
Supposedly... I think you're correct in assuming that they own legit real estate to launder money etc (mostly held in wife's name to attempt to protect from
fed seizure), but there is/was a Real Estate rehab/flip racket. See below link if you're interested...

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


Maybe I'm wrong, but this looks like it was a short lived scheme as opposed to a "racket" but I see your point.

As Uncle Charlie used to say, "Never get into pissing matches with skunks."