The very best reporting in the entire state right now is being done by the Sarasota Tribune. How about the story of the drug dealing mobster that takes out millions of dollars in loans from one of Florida’s biggest banks? The state…and all government will look the other way….but they will pound furiously on consumers…devoting tremendous resources to fund and operate a system that works to punish the borrower and ignore the banking crimes that caused all of this.
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Federal agents say Eli Hadad borrowed $500,000 from the Israeli mob to buy and sell the club drug Ecstasy in South Florida.
But the deal went bad. So a group of enforcers flew to Hadad’s home in Miami, threatened to throw his business partner off a balcony, and took the title to Hadad’s house until he repaid what was owed.
Federal authorities learned of the deal and arrested Hadad. But charges against him were later dropped and he became a key witness in the government’s prosecution of the fearsome crime syndicate known as the “Jerusalem Network.”
Three years later, Hadad again had trouble repaying a debt — this time a $6.7 million loan from one of Florida’s biggest banks.