Mafia Takes Over Publicly Traded Company

From AOL DAILY FINANCE:

As Occupy Wall Street protestors chant about the criminals in the boardroom, actual thieves — including men associated with the mafia — have spent years quietly running FirstPlus Financial Group (FPFX), a Texas-based company and a one-time subprime lender that boasted former Vice President Dan Quayle as a board member, and used NFL Hall of Famer Dan Marino in its ads.

On Tuesday, Nicodermo S. Scarfo, a made man within the Lucchese organized crime family, was arrested at his home. He’s one of 13 men charged with the illegal takeover of the publicly traded company, among other racketeering charges. “The defendants gave new meaning to ‘corporate takeover,’ ” said U.S. Attorney Paul Fishman.

“Criminal activities have evolved from the back alleys to the board rooms,” said Michael B. Ward, special agent in charge of the FBI’s Newark Field Office. Still, the tactics remain the same, he says: “physical threats and intimidation to gain leverage and loot lucrative businesses.”

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