How Cosa Nostra is making money in 2018

[maninblack]

Does anyone know what some of the new rackets the mob is into now. I don't know about you guys but its so annoying how every time a new documentary comes out its the same rats telling the same stories from the 70s and 80s. For example that new article about Chin's son Vincent was one of the more interesting i've read in a while because of the 4 million in cash that he supposedly used for loan sharking for Genovese family member legal fees. Its genius to do because now that guys aren't getting killed anymore they're only looking at 1-10 years tops compared to life so why not have a fund that's all juice money to pay for their legal fees and make them feel like the family has their back if something happens. But you can never trust the government it could of easily just been money that he had from Chin or that he had saved and they couldn't prove where it came from so theyr'e just using that explanation as an excuse to make headlines and get him convicted.. I know with the opiate epidemic there are plenty of guys selling Percs and Fentanyl/Dope and they've sold plenty of weed and coke these past 10 years as well. Last but certainly not least I know first hand that they make 10s of millions every year from online sports betting since the websites are set up in Costa Rica where gambling is legal it takes so much of the risk and time out of it because they don't have to write anything down or take calls or texts all they have to do is just collect every week. It didn't surprise me about the guys getting doctors to write prescriptions for the pain creams because that's something they stole from other people who were doing it, I even knew about that scam before they got caught because my doctor used to write those prescriptions to some people. Also I know they were big into credit card fraud but now a days its so hard to do because the companies will block charges they think are suspicious and call the card owner right away. I know they're also into legitimately renovating and flipping houses and real estate stuff too but not too many details about who's doing what
But yeah anything else that they're into that maybe isn't well known or documented? Thanks

[Wiseguy]

Comparatively speaking, prescription drugs are a newer thing for the mob than heroin, cocaine, and marijuana but even that's been going on for a while now. The recent fentynal bust up north was definitely a newer thing. One fairly recent article said the families are working together more when it comes to drug trafficking, as well as with the 'Ndrangheta.

Sports betting is what all the remaining families, in and outside New York, have in common and remains the biggest money maker.

While not a core racket, mob has been involved in health care fraud at different points for at least the last 25 years. The compound kickback scheme was just the most recent example of that. The difference was that it involved a Philly guy (Merlino). There was a much smaller and less publicized case in 2016 involving Genovese member Joseph Dente Jr. and others where they defrauded investors of $350,000 through bogus medical investment ventures.

In terms of fraud in general, one article quoted the feds as saying the mob isn't involved as much as it was in the 1990s. That was when we saw a lot of newer fraud-centered things like stock fraud, calling card fraud, internet and phone bill cramming, etc. But anytime the opportunity for some kind of scam presents itself, they'll likely take it. For example, back in 2003 the son of one Gambino soldier and a couple other guys were charged with setting up a fake ATM in a small grocery store from which they were able to skim information from bank and credit cards, accessing bank accounts, and stole over $225,000 in one day alone. Just last year, some guys (including one connected to the Luccheses) were charged for defrauding companies seeking to purchase scrap metal by contracting with them to ship them containers of valuable scrap metal, but then filling the shipping containers primarily with cheap filler material.

Flipping houses and real estate has been in the news in more recent years regarding the Philadelphia mob. Not exactly a new thing in New York but even in Philly there were actually reports of that 10-15 years ago.

You mentioned less murders and that is also a trend that several articles have touched on. They still happen on occasion but nowhere near years ago.

[gohnjotti]

Comparatively speaking, prescription drugs are a newer thing for the mob than heroin, cocaine, and marijuana but even that's been going on for a while now. The recent fentynal bust up north was definitely a newer thing. One fairly recent article said the families are working together more when it comes to drug trafficking, as well as with the 'Ndrangheta.

Sports betting is what all the remaining families, in and outside New York, have in common and remains the biggest money maker.

While not a core racket, mob has been involved in health care fraud at different points for at least the last 25 years. The compound kickback scheme was just the most recent example of that. The difference was that it involved a Philly guy (Merlino). There was a much smaller and less publicized case in 2016 involving Genovese member Joseph Dente Jr. and others where they defrauded investors of $350,000 through bogus medical investment ventures.

In terms of fraud in general, one article quoted the feds as saying the mob isn't involved as much as it was in the 1990s. That was when we saw a lot of newer fraud-centered things like stock fraud, calling card fraud, internet and phone bill cramming, etc. But anytime the opportunity for some kind of scam presents itself, they'll likely take it. For example, back in 2003 the son of one Gambino soldier and a couple other guys were charged with setting up a fake ATM in a small grocery store from which they were able to skim information from bank and credit cards, accessing bank accounts, and stole over $225,000 in one day alone. Just last year, some guys (including one connected to the Luccheses) were charged for defrauding companies seeking to purchase scrap metal by contracting with them to ship them containers of valuable scrap metal, but then filling the shipping containers primarily with cheap filler material.

Flipping houses and real estate has been in the news in more recent years regarding the Philadelphia mob. Not exactly a new thing in New York but even in Philly there were actually reports of that 10-15 years ago.

You mentioned less murders and that is also a trend that several articles have touched on. They still happen on occasion but nowhere near years ago.

Would like to add to this:

Credit card skimming is another recent thing that many wiseguys have collaborated on, to add to your fake ATM thing. The 2016 East Coast LCN indictment touched on that.

Sports betting has moved offshore/online, and the mob has jumped on that by creating wire rooms and websites overseas. It is arguably more lucrative than before since they can service more customers and it's harder to get busted.

Sal Locascio, the college-educated capo son of the Gotti consigliere, was involved in that online pornography scam. News reports cited him as a "new-age" mobster or whatever.

Home burglaries have become a growth industry for the mob in recent years.

As you said, prescription drugs are really big now - painkillers, Viagra, oxycodone, etc.

Unions are still a big factor for the West Side and slightly less for other families.

[Wiseguy]

Credit card skimming is another recent thing that many wiseguys have collaborated on, to add to your fake ATM thing. The 2016 East Coast LCN indictment touched on that.

Back in 2003 a cloned credit card operation out of Queens connected to the Genovese family was busted. It was pretty sophisticated with high-tech magnetic strip decoders, hologram machines, and laser scanners. They skimmed information from over 4,300 cards in New York, New Jersey, and Connecticut and cloned at least 200 of them, selling them for $1,000 or were used to buy items directly.

Sal Locascio, the college-educated capo son of the Gotti consigliere, was involved in that online pornography scam. News reports cited him as a "new-age" mobster or whatever.

That case came down in 2003 but the operation had been going since the mid-1990s. The phone cramming part of the operation actually made even more money than the internet porn scam.

[gohnjotti]

Sal Locascio, the college-educated capo son of the Gotti consigliere, was involved in that online pornography scam. News reports cited him as a "new-age" mobster or whatever.

That case came down in 2003 but the operation had been going since the mid-1990s. The phone cramming part of the operation actually made even more money than the internet porn scam.

Yes that's right. I would assume some of the more sophisticated guys in the mob might be in some shady internet scams/deals.

[BillyBrizzi]

In terms of fraud in general, one article quoted the feds as saying the mob isn't involved as much as it was in the 1990s. That was when we saw a lot of newer fraud-centered things like stock fraud, calling card fraud, internet and phone bill cramming, etc.

Have you seen the Netflix docu-series Dirty Money yet WG? I think you'd like it, there are a couple of very interesting episodes in it..

[aleksandrored]

It may seem like a stupid question ... but the mob is no longer involved in bank robbery right?

PS:Dirty Money It seems really interesting.

[maninblack]

It may seem like a stupid question ... but the mob is no longer involved in bank robbery right?

PS:Dirty Money It seems really interesting.

John Gotti's grandson got booked for a bank robbery

[Wiseguy]

Have you seen the Netflix docu-series Dirty Money yet WG? I think you'd like it, there are a couple of very interesting episodes in it..

I've seen it while scrolling through Netflix. Will have to check it out.

It may seem like a stupid question ... but the mob is no longer involved in bank robbery right?

It's more of an ad-hoc thing and not a core racket but it does still happen. In 2016, three people including Colombo associate Michael Mazzara and Anthony Mazcuzzio (son of a late Gambino associate) were charged with a series of bank burglaries (breaking into secured bank vaults and safety deposit boxes by cutting through a roof or a wall from a space adjoining the bank) in Brooklyn, Queens, and elsewhere in NYC and stole over $5 million in cash, jewelry and diamonds.

[santos]

credit card fraud, prostitution, gambling, Jewell theft, automobile stuff, drugs.

Basically everything still.

[santos]

and ofcourse...the big one now... crypto coin scams

[aleksandrored]

I understand, thanks, is that nowadays one does not see many news about bank robbery, usually when talking about mob refers to extortion, gambling, prostitution, drug trafficking and etc ...

[gohnjotti]

and ofcourse...the big one now... crypto coin scams

Any examples?

[Wiseguy]

I understand, thanks, is that nowadays one does not see many news about bank robbery, usually when talking about mob refers to extortion, gambling, prostitution, drug trafficking and etc ...

There have been some examples of prostitution in recent years. For instance with the Gambinos using Craigslist ads and running an escort service, as well there being some in mob-run strip clubs. But relatively speaking, prostitution isn't really a core racket and those recent cases were more the exception than the rule.

[gohnjotti]

I understand, thanks, is that nowadays one does not see many news about bank robbery, usually when talking about mob refers to extortion, gambling, prostitution, drug trafficking and etc ...

There have been some examples of prostitution in recent years. For instance with the Gambinos using Craigslist ads and running an escort service, as well there being some in mob-run strip clubs. But relatively speaking, prostitution isn't really a core racket and those recent cases were more the exception than the rule.

As well as Al Trucchio and Tony Frascone's scheme of importing girls from Russia and selling them to strip joints.