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Reputed mobsters charged with taking over companyReputed mobsters, lawyers and accountant charged with taking over, bleeding a firm
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 former Philadelphia mob boss Nicodemo D. "Little Nicky" Scarfo, were charged in an indictment unsealed Tuesday.
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 Tuesday afternoon.
Related Keywords:Mob-Financial Fraud,Organized crime,Fraud and false statements,Crime,General news