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Reputed mobsters charged with taking over company



Published: Tue, November 1, 2011 @ 2:54 p.m.

Reputed mobsters charged with taking over company

CAMDEN, N.J. (AP) — The FBI says a financial fraud case shows that mobsters are moving “from the back alleys to the boardrooms.”

Reputed mobsters, including the son of former Philadelphia mob boss Nicodemo D. “Little Nicky” Scarfo, were charged in an indictment unsealed today.

Five lawyers and an accountant were charged along with Nicodemo S. Scarfo.

Federal authorities say the group took over FirstPlus Financial Group, an Irving, Texas mortgage company, had it buy shell companies they ran and took the money out.

Authorities say the scheme brought them $12 million between 2007 and 2008.

One of the reputed mobsters’ purchases with the money: A yacht named “Priceless.”

FBI Special Agent Michael Ward says the allegations show organized crime has evolved.

Scarfo Jr. is due in a Camden federal court this afternoon.


Comments

1Stan(9923 comments)posted 2 years, 10 months ago

"FBI Special Agent Michael Ward says the allegations show organized crime has evolved."

As it has here in The Valley also . . ..

Suggest removal:

2author50(1121 comments)posted 2 years, 10 months ago

Next thing you know, mobsters will be running for political offfices!

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3nascar74(43 comments)posted 2 years, 10 months ago

This Valley was a lot safer when mobsters ran the show.

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4anothermike(211 comments)posted 2 years, 10 months ago

Have to agree, there were "lines they didn't cross", now anything goes, nothing off limits to the thugs you have today..........

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5Traveler(606 comments)posted 2 years, 10 months ago

Cant see how they acted any different then a wallstreet investment company

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6tommygc(25 comments)posted 2 years, 10 months ago

In response to Author 50 ,they already are////////

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