Rich and Famous Gold Criminals

We often discuss central banks and billionaires’ gold investment. Let’s do something more exciting – buried gold treasures of less than ideal citizens of society, a once upon a time public enemy number 1, literally. 

The man, the legend, the prohibition-era gangster, Dutch Schultz. 

It is said that he has hidden treasure made of thousand-dollar bills, diamonds, and uncashed World War I Liberty Bonds. But the majority of it is gold bars and coins. 

How did he amass all that wealth?

Schultz grew up in poverty in the Bronx. When his father abandoned them at a young age, he turned to a life of crime. 

At 17, he served a 17-month prison sentence for burglary. After he served his sentence, he continued his life of crime as a member of a youth gang. 

When the Prohibition era in the 1920s started, New York City was overtaken by organized crime. Bootlegging became highly profitable, and Schultz and his gang began an illegal beer business.

They required bar owners if they didn’t buy from them. They made millions! 

They soon took over Manhattan, where territorial conflicts with other gangs embroiled Schultz in several gang feuds, all of which he successfully won. 

He turned to illegal gambling to add to his income, and his fortune continued to multiply.

In 1933, he was named “Public Enemy No. 1” by the Justice Department. But like Al Capone before him, Schultz was highly vulnerable to the newly enacted federal income tax law.

When he was indicted by a Grand Jury for income tax evasion, Schultz immediately took steps to protect his money and decided that he needed a nest egg to fall back on in case he was sent to prison. He had his top lieutenants clean out his safety deposit boxes and gather together all of his cash from his available bank accounts.

He started buying assets like bonds, diamonds, gold coins, and gold bars. 

In 1935, he got involved in a shooting that sent him to his deathbed. 

While he was fighting for his life, he rambled incoherently about a $7 million dollar fortune he had buried along Esopus Creek in upstate New York. 

In the recent decade, different people have attempted to find the loot, but the existence of this treasure was never proven, and its location — if it ever existed — is a long-standing mystery.

We are certainly not promoting a life of crime for you to build your wealth. We are also not advising you to look for ways to not pay your taxes. We are also not asking you to look for hidden treasure. 

We do, however, want to emphasize that gold is timeless. Then and now, people acknowledge it as a store of wealth. 

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About Noble Gold

At Noble Gold Investments, we protect our clients financial futures by giving them a safe and easy way to invest in Gold and other Precious Metals. Whether it’s diversifying your portfolio with a Gold or Silver IRA, acquiring precious metals, or storing bullion in our Texas depository, our no-pressure agents can guide you through all the options available to you.

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