Tommy Billotti / Joe Watts Loan Shark Book

[Manhattan_]

Was just wondering what ever happened to the massive loan shark book that Tommy Billotti had ? Joe Watts was said to have taken it over after Tommy’s death. But who controls it today ?

[JoeCamel]

I’m gonna put my money on Joe Watts

[CornerBoy]

I’m gonna put my money on Joe Watts

Maybe one of the 287 Bilotti family members split it lol

[NYNighthawk]

They said Gotti gave it to Watts for his role in the Castellano hit. I was always dubious as to how that went down. After the hit, they went to Bilotti's metal file cabinet and took out his debtor book and simply told Watts - it's your now?

[newera_212]

They said Gotti gave it to Watts for his role in the Castellano hit. I was always dubious as to how that went down. After the hit, they went to Bilotti's metal file cabinet and took out his debtor book and simply told Watts - it's your now?

Just like how Lou Vallario supposedly inherited Sammy's multi million dollar book after Sammy flipped lol.

But yeah, I'm guessing it really is like that. Records are kept somewhere, even if it's not central and info is scattered between crew members, but the guy who takes over gets his arms around it, sends people to call the debtors in, and lets them know payments continue to him. I'm sure stuff gets lost in translation but i bet these guys really have a sick, uncanny ability to put a loan book back together after a guy dies or flips and get decent handle on the money

[jimmy_beans8]

Remember...watts was close with Paul(tommy).....probably already had knowledge of some debtors.......iirc...feds collected Sammy's money,,gave it back to him

[jimmy_beans8]

Remember...watts was close with Paul(tommy).....probably already had knowledge of some debtors.......iirc...feds collected Sammy's money,,gave it back to him

[newera_212]

Remember...watts was close with Paul(tommy).....probably already had knowledge of some debtors.......iirc...feds collected Sammy's money,,gave it back to him

ahh yeah exactly. That makes a lot of sense. Watts was probably working that book for years himself and had the best shot at taking it over with the least amount of lossage. He was probably collecting for Paul et. al. personally and knew who was where.

Didnt Billotti's brother still remain involved and relevant / influential himself? The book didn't go to the brother? I thought after Tommy got killed, they went out of their way to do right by his brother even beyond just not clipping him too

[CornerBoy]

joe bilotti was kicking 30 yr old asses well into his late sixties. knocked out anthony capo.

[johnny_scootch]

But yeah, I'm guessing it really is like that. Records are kept somewhere, even if it's not central and info is scattered between crew members, but the guy who takes over gets his arms around it, sends people to call the debtors in, and lets them know payments continue to him. I'm sure stuff gets lost in translation but i bet these guys really have a sick, uncanny ability to put a loan book back together after a guy dies or flips and get decent handle on the money

You hit the nail on the head. Some loans will slip thru the cracks but they put enough of it back together for that not to matter especially considering the fact it’s basically free money.
The question I have is how much money did Joe Watts owe Tommy when they killed him?

[jimmy_beans8]

Kinda think it's normal to grab a loan when someone not gonna b around long

[NYNighthawk]

Reminds me of the guy in the Soprano's who borrowed money from Vito and tehn when he got clipped - he smiled while cooking for the crew.

[newera_212]

Reminds me of the guy in the Soprano's who borrowed money from Vito and tehn when he got clipped - he smiled while cooking for the crew.

Before Massino was made he borrowed $9k off a guy who they were going to clip. I wonder how often this has happened. Especially in situations like the Colombo War when guys were switching sides. Rack up a massive debt, switch sides, and hope your guy gets hit

[Manhattan_]

But yeah, I'm guessing it really is like that. Records are kept somewhere, even if it's not central and info is scattered between crew members, but the guy who takes over gets his arms around it, sends people to call the debtors in, and lets them know payments continue to him. I'm sure stuff gets lost in translation but i bet these guys really have a sick, uncanny ability to put a loan book back together after a guy dies or flips and get decent handle on the money

[Wiseguy]

Reminds me of the guy in the Soprano's who borrowed money from Vito and tehn when he got clipped - he smiled while cooking for the crew.

Before Massino was made he borrowed $9k off a guy who they were going to clip. I wonder how often this has happened. Especially in situations like the Colombo War when guys were switching sides. Rack up a massive debt, switch sides, and hope your guy gets hit