Art Nadel’s ‘Ponzi Pal’ Linked to 5-Ton Coke Bust
April 3rd, 2009Via: Mad Cow Productions:
A hedge fund partner of accused Ponzi Fraudster Arthur G. Nadel, the current owner of what used to be terror flight school Huffman Aviation, was well-known in the New York Tri-State area as the “Garbage King of New Jersey,” the MadCowMorningNews has learned.
Louis D. Paolino is also involved in the scandal around the American-registered DC9 from St. Petersburg FL busted on April 11, 2006 in Mexico’s Yucatan, carrying 5.5 tons of cocaine.
In 2004, Paolino took a $6 million unpaid loan from Argyll Equity LLC., the major investor in SkyWay Aircraft, the company that owned the DC9.
Terrorist ringleader Mohamed Atta probably never met anyone named “Fat Pete” or “Joey Cakes” while learning to fly at Huffman Aviation at the Venice Airport.
But ever-mounting evidence points to the conclusion that the men who owned the flight school—both then and now—have more than a passing acquaintance with organized crime.
In a similar vein…I was thinking a while back why we don’t see more news about the hundreds of hedge-funds that are reportedly becoming insolvent. Granted many of them likely had less than $100-million in deposits, so they’re considered small-change, but still…shouldn’t we see news stories virtually every day about all the disgruntled investors out there losing their life-savings?
And then it hit me: a large number of off-shore hedge funds were set up to do nothing more than launder & invest illegal funds. So of course, when these shell-funds go belly-up nobody’s going to talk openly about it. No matter how their “customers” DO choose to handle the situation, they certainly won’t be making a public stink.
In fact, it may well be that modern Federal drug “policy” is shifting largely in response to how much drug (& other activities) money has gone up in smoke in recent years.
On the same topic, search on Google for “Cocaine One”. MadCowProductions has more information on them. The basic rundown is that it is one of many shell companies that run drugs for the US Gov’t.
http://www.madcowprod.com/07282006.html
In this 2006 article, they mention Skyway, which had a relationship with the drug laden crashed DC9, had rented a 70,000 sq/ft facility at the DFW airport “to repair televisions”.
Don’t look at it too carefully. It leads around in circles (by design, I’m sure), and never fingers anyone important directly. It’s embarrassing when simplicity starts showing itself, and you find out that the illegal drug trade, financial systems, and government are all tied together.
I tried to explain the drug trade to people, but few quite get it.
Drugs are illegal in America, even the lowest end ones (like marijuana). Being that they’re illegal, the price is higher. If the US Gov’t, or at least parts of it, were involved in the drug trade, its in their best interest to ensure they stay illegal. They buy drugs overseas, and sell them domestically. They can use (abuse) their power to force the competition out of business, while putting on a grand show of “fighting drugs”. Every major bust runs the street prices up, making a larger profit. The money profited is not in the federal budget, and won’t ever be. These huge cash transactions become unaudited money to run covert operations completely off the radar of even government regulators.
I’ve heard stories from informed sources that claim mystery flights can overfly the Gulf of Mexico, by telling the enforcement agencies not in the loop that a major operation may be coming through another route. While distracted, the mystery flights go through unmolested. For those they can’t move, they are simply told “You don’t see that flight. It’s a matter of national security.”
Sure, the US Gov’t will put huge efforts into “illegal” drug running, because they’re the competition, and it’s bad for the non-existent budget for non-existent ops to run short because some guy in S. America running a huge operation wants to sell his drugs instead, at a lower price.
It’s a very dangerous game, and there’s no room for competition.
Being in the middle of the game also allows them to covertly know when and how large quantities are being moved that shouldn’t, and when the word comes down from high enough up, there’s no way to come through.
All we ever see in the news is when a smaller time dealer with large quantities (say millions worth) gets caught. He was messing with the wrong people. Alleged “Mafia” ties don’t even begin to describe it.