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.


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.


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One Comment

  • Anonymous says:

    I’m sorry but I fail to see how this guy should have not gotten a loan because of some questionable history. So no one with a criminal record should get bank loans? I guess a large chunk of the US is in grave trouble then; a lot of them consumers with mortgages. Shame on the people who want to come down on this guy, even if he’s no saint.

    How many of you out there lied about your income, or got a loan you actively KNEW you couldn’t afford. What makes you better than this guy, even though on a smaller scale? Nothing in my mind.

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