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The Diary Of A CEO with Steven Bartlett
Former Mafia Boss: "I Was Running The Biggest Scam In The World! $1.4 Million A Day!" - Michael Franzese
Aug 19, 2024
Michael Franzese, a former caporegime of the Colombo crime family, shares his extraordinary journey from aspiring medical student to mobster, discussing how he orchestrated a $1.4 million-a-day gas scam. He details the complex dynamics of Mafia life, the loyalty binds shaped by familial ties, and the high-stakes negotiation tactics he employed. With candid reflections on 21 months spent in solitary confinement, he sheds light on the emotional toll and the transformative conversations that ultimately guided him toward redemption and a new path.
02:09:44
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Quick takeaways
- Michael Franzese distinguishes himself as a racketeer rather than a gangster, emphasizing his focus on financial elevation through business schemes.
- Franzese reflects on the emotional complexities of his relationship with his father, illustrating how familial loyalty impacted his life choices.
Deep dives
Life as a Racketeer
Michael Franzese describes his experiences in the mafia, highlighting the stark distinction between being a racketeer and a gangster. He identifies himself as a racketeer, emphasizing his role in elevating the family financially through legitimate businesses and schemes, bringing in up to $10 million a week. Through 18 companies, Michael engaged in acts of tax fraud and other illicit activities, demonstrating his skill in negotiation and business acumen within the criminal world. His lavish lifestyle, including owning a helicopter and a jet, showcases the significant profits derived from his involvement in these operations.
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