Wednesday, December 13, 2006

The Mob Never Left the Street

At the end of my book Born to Steal I pointed out that the protagonist of my tale, Louis Pasciuto, was still being asked to join boiler rooms as late as 2000, after he started cooperating with the government.

An federal indictment handed up yesterday in Brooklyn provies further evidence that the mob is still chugging along on the Street.

As you can see from the press release announcing the charges against two reputed Gambino members, the two were allegedly engaged in a stock fraud scheme in 2003.

While the extent of mob activity is probably not as high as it was in the late 1990s, this is a sign of how microcap stocks continue to attract lowlifes and hustlers.

© 2006 Gary Weiss. All rights reserved.


Wall Street Versus America was published by Penguin USA on April 6.
Click here for its listing and here for more information on the book, from my web site.


Links to this post:

Create a Link

<< Home

Enter your email address:

Delivered by FeedBurner