The Untold Story of Frank Costello’s Fortune: From Bootlegging to Organized Crime Kingpin
Introduction:
Frank Costello, one of the most notorious and successful mobsters in American history, was a key figure in the development of organized crime during the 20th century. Nicknamed the “Prime Minister of the Underworld,” Costello was a master of gambling, bootlegging, and racketeering. But how did he amass such a vast fortune? In this blog post, we’ll explore the untold story of Frank Costello’s rise to the top of the criminal underworld.
Section 1:
Frank Costello was born in 1891 in Italy and moved to New York City with his family at a young age. He dropped out of school to help support his family and started working as a street sweeper. Despite his modest beginnings, Costello had a sharp mind and a keen business sense. He quickly realized that there was money to be made in the illegal alcohol trade during Prohibition.
Section 2:
Like many other bootleggers, Costello began by distributing alcohol to speakeasies and eventually moved into producing his own moonshine. He quickly built a network of contacts in the criminal underworld, including other bootleggers and corrupt politicians and police officers. With his talent for negotiation and making mischief for competitors, he would soon become a powerful force in the illegal alcohol business.
Section 3:
By the end of Prohibition in 1933, Costello was already a wealthy man. He used his income from bootlegging to expand his criminal empire, moving into other illegal activities such as gambling and prostitution. He built a network of casinos in New York City, earning him millions of dollars a year.
Section 4:
Costello was smart enough to avoid the spotlight and allowed other figures to be the figureheads of organized crime. During this era, he capitalized on the “Big Six” racketeering centers in New York City, which brought in profits through illegal gambling, labor racketeering, and other businesses. Costello was the boss of the Luciano crime syndicate, which included some of the most infamous members of the mob.
Section 5:
Despite his brushes with the law, Costello was never convicted of any major crimes until 1951, when he was jailed for contempt of Congress. During his time in prison, he handed over control of the syndicate to his protégé, Vito Genovese. Costello retired in 1957 and died of a heart attack in 1973.
Section 6:
Despite retiring from active participation in the organization, Costello’s fortune and legacy continued to live on. He had amassed a fortune worth tens of millions of dollars, which was divided among his family upon his death. His reputation as a criminal mastermind and underworld kingpin also lived on, inspiring countless books, movies, and TV shows.
Section 7:
Costello’s impact on the criminal underworld cannot be overstated—he was a trailblazer in the world of organized crime. He was the first to recognize the potential profit in gambling, leading to the establishment of Las Vegas as a gambling mecca. He was also instrumental in the creation of the National Crime Syndicate, which brought together criminal organizations from across the country.
Section 8:
Some believe that Costello had a sense of honor that was rare among mobsters—he was said to be loyal to his friends and always kept his word. He was also known for his love of opera and his extensive art collection. Despite his violent criminal activities, Costello was a complex figure who defied easy characterization.
Conclusion:
Frank Costello’s story is a fascinating look into the world of organized crime in the 20th century. From his humble beginnings as a street sweeper, he became one of the most powerful and influential figures in the criminal underworld, amassing a fortune that made him one of the wealthiest men in America. His contributions to the world of gambling and the establishment of the National Crime Syndicate have left a lasting legacy that continues to fascinate people today.
FAQs:
Q1: Was Frank Costello ever convicted of any major crimes?
A: No, he was only convicted of contempt of Congress in 1951 and served a short prison sentence.
Q2: How did Costello make his fortune?
A: Costello’s initial fortune came from the illegal alcohol trade during Prohibition. He later moved into other illegal activities such as gambling and prostitution.
Q3: What was Costello’s role in organized crime?
A: Costello was a key figure in the development of organized crime during the 20th century. He was the boss of the Luciano crime syndicate and played a major role in the establishment of the National Crime Syndicate.
Q4: When did Costello retire?
A: Costello retired from active participation in the syndicate in 1957.
Q5: How much was Costello’s fortune worth?
A: Costello’s fortune was worth tens of millions of dollars at the time of his death.