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 in the Colombo crime family, shares his riveting journey from a medical student to one of the most notorious mobsters since Al Capone. He reveals the shocking details of running a $1.4 million-a-day scam and discusses the impact of his father, a mafia underboss, on his life. Franzese reflects on loyalty, the emotional toll of solitary confinement, and the surprising business lessons learned in the mafia world. His story is a captivating blend of crime, family ties, and redemption.
02:09:44
Episode guests
AI Summary
Highlights
AI Chapters
Episode notes
Podcast summary created with Snipd AI
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.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
