Gyroscopic Investing

Interesting article from August of this year about money laundering by way of Miami condo purchases.
Cash, condos & criminals: The big loophole for money laundering
http://www.bizjournals.com/southflorida ... l?page=all

I like this part:

The obvious question should have been: How did a UPS manager such as Krentz afford to spend more than $2 million on condo units? But that didn’t stop the real estate professionals in the deals from taking the money, or a handful of banks from issuing her mortgages.

The FBI page from two years ago is dryer, but some may prefer it.
http://www.fbi.gov/miami/press-releases ... t-unsealed

I once knew a mob guy who got into some legal trouble, along with his dad. His dad, who had a bread route and owned 50 condos in Florida, told a reporter who inquired about how he could afford it that there was a lot of bread in bread.

Reub wrote: I once knew a mob guy who got into some legal trouble, along with his dad. His dad, who had a bread route and owned 50 condos in Florida, told a reporter who inquired about how he could afford it that there was a lot of bread in bread.

Probably not too many here would have any clue what you mean about a "bread route". My Dad, who died a couple of months ago had a "Milk Route" and that was the only job he ever had his whole life except for being a soldier in WWII so I think I know what you mean. He simply delivered milk door to door but as far as I know the mafia didn't have their hands in this.

So bread route is just bread delivery? I'm glad you spoke up, ns2. I assumed from the context of this thread that bread route meant money laundering route!

When was bread delivered door to door? In the 50s?

dualstow wrote:When was bread delivered door to door? In the 50s?

I'm 52 and it was a regular thing in my pre teen years in the California central valley.

I'm not that certain what was entailed with his bread route, but I believe that it was delivering bread to stores and restaurants. By happenstance, his son (and I'll bet he as well) seemed to know a lot about betting odds. Enough said!

dualstow wrote: So bread route is just bread delivery? I'm glad you spoke up, ns2. I assumed from the context of this thread that bread route meant money laundering route!

When was bread delivered door to door? In the 50s?

My Dad retired around 1980 and was still delivering milk door to door for Bordens at that time.

In the last decade or so of his career the major consumers weren't suburbanites any more but inner-city dwellers. They were getting their dairy products for free through the WIC program and this turned out to be a great boon for my Dad because he got commissions on what he sold - complements of the U.S. taxpayer in this case.