Leonard Palulo person
also: Palulo, Palullo, Palulu, Polulo, Lenny, Polulu, Polullo
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Related entities (most co-mentioned)
Sunshine State Bankorganization · 9Robert Corsonperson · 6Philadelphiaplace · 6Context Industriesorganization · 5New Jersey State Commission of Investigationorganization · 3Nicodemo Scarfoperson · 3Victor Posnerperson · 3David Friedmanperson · 3Robert Evansperson · 3Royale Group Limitedorganization · 3Anthony DiSalvoperson · 2Sharon Steele Corporationorganization · 2Savings Oneorganization · 2Atlantic Cityplace · 2Wallace Dealperson · 2Houstonplace · 2American Investigation Corporationorganization · 2United Statescountry · 2Barry Shapiroperson · 1Kenneth Shapiroperson · 1Philip Linettiperson · 1Fred Martinsperson · 1Pennsylvania Crime Commissionorganization · 1Dominion Bankorganization · 1
Claims (9)
Leonard Palulo financed_via
Context Industries documented
“Leonard Palulo, the guy we talked about yesterday. In 82 and 83, the White's Context Industries paid Palulo $80,000 in consulting fees for his work to arrange almost a million dollar loan from Sunshine State Bank. The Miami Herald reported,…”
▶ The Colonels Corner Mafia, CIA and George Bush Part 21 @ 17:36
Leonard Palulo laundered_money_for
Context Industries documented
“$800,000 loan immediately after Palulo's company received its first payment. Sunshine's sudden generosity surprised even Context officials. It was a loan agreement beyond our wildest dreams. Context ex-president Wallace Deal said he had met…”
▶ The Colonels Corner Mafia, CIA and George Bush Part 21 @ 18:05
Leonard Palulo financed_via
Victor Posner documented
“Posner turned down Polullo, but then hired him as a consultant. From late 1987 to the middle of 88, Posner paid him $1.2 million for consultation on an industry he'd never been in. Polullo then tried to buy some of Posner's companies, inclu…”
▶ The Colonels Corner Mafia, CIA and George Bush Part 21 @ 20:06
Leonard Palulo member_of
Royale Group Limited documented
“After Corona took over Sunshine Bank, he put Joseph Klein's wife on his board and began to do business with Royale Group Limited. That was the successor company to Klein's Kavanaugh Communities Incorporation. And its new CEO was Leonard Pal…”
▶ The Colonel's Corner The Mafia, CIA & George Bush Part 20 @ 21:48
Leonard Palulo member_of
Nicodemo Scarfo documented
“prison sentence for racketeering. The other guy, Philip Linetti, was one of Scarfo's underbosses. He was also convicted of racketeering and was cooperating with law enforcement turning state's evidence. Fred Martins, executive director of t…”
▶ The Colonel's Corner The Mafia, CIA & George Bush Part 20 @ 25:12
Leonard Palulo member_of
Dominion Bank documented
“due to technicalities. Before he was jailed on contempt charges, Palula was already dodging a couple of bullets regarding banks and savings and loan fraud. He was the vice president of Dominion Bank in Denver when it failed. Although he was…”
▶ The Colonel's Corner The Mafia, CIA & George Bush Part 20 @ 26:14
Leonard Palulo financed_via
Sunshine State Bank documented
“And his companies and relatives were borrowing from Sunshine State Bank to the tune of $15 million, making them the single largest borrower at the bank. He was also a director of King Crown Corporation, who owned about 6% of Sunshine. All t…”
▶ The Colonel's Corner The Mafia, CIA & George Bush Part 20 @ 28:26
Leonard Palulo financed_via
Don Pedro Island documented
“Also, long after Sunshine Bank was closed and Ray Corona went to jail, one of the Coronas was found working for Palulo. Needless to say, all of Palulo's loans from Sunshine became delinquent. So he sold Don Pedro Island off the west coast o…”
▶ The Colonel's Corner The Mafia, CIA & George Bush Part 20 @ 28:51
Leonard Palulo financed_via
Resorts International documented
“and a two-acre track in Atlantic City that Polulo wanted to develop as a casino. To that purpose, Polulo had made an agreement with Resorts International, which was a casino company linked to Meyer Lansky, the mob. Like any good mobster, wh…”
▶ The Colonel's Corner The Mafia, CIA & George Bush Part 20 @ 30:48
Mentions (28)
▶ 17:06
Posner himself, his son Stephen, two other associates, and Armour White, who was also on the board of directors of Posner's Sharon Steele Corporation. In a list submitted to the Senate Intelligence Committee during the confirmation hearing …
▶ 17:36
Leonard Palulo, the guy we talked about yesterday. In 82 and 83, the White's Context Industries paid Palulo $80,000 in consulting fees for his work to arrange almost a million dollar loan from Sunshine State Bank. The Miami Herald reported,…
▶ 18:05
$800,000 loan immediately after Palulo's company received its first payment. Sunshine's sudden generosity surprised even Context officials. It was a loan agreement beyond our wildest dreams. Context ex-president Wallace Deal said he had met…
▶ 18:36
We were so desperate we couldn't pay our bills, unquote. What did Polulu do? The Herald went on, quote, to help contacts merit the new loan. Neither deal nor other company officials involved said they knew, although they considered the paym…
▶ 19:03
For one, the company had been borrowing from Sunshine State Bank since 1979, and Harold White received a personal loan from the bank in 81. Polulu claimed that he had restructured the company's finances and educated them about finance, acco…
▶ 19:34
and the owner of Robert Evans Oil Company. What could a mafia associate and bust-out artist like Palullo teach this man about finance? American Motors Corporation former chairman. Several years after arranging the context loan from Sunshine…
▶ 20:06
Posner turned down Polullo, but then hired him as a consultant. From late 1987 to the middle of 88, Posner paid him $1.2 million for consultation on an industry he'd never been in. Polullo then tried to buy some of Posner's companies, inclu…
▶ 21:48
After Corona took over Sunshine Bank, he put Joseph Klein's wife on his board and began to do business with Royale Group Limited. That was the successor company to Klein's Kavanaugh Communities Incorporation. And its new CEO was Leonard Pal…
▶ 22:19
first came to the public's attention in 85 when the New Jersey State Commission of Investigation released a report on organized crime in boxing. The report stated, quote, the previous episode described boxing manager Barry Shapiro as being …
▶ 22:49
Palullo, 30, and his brother Leonard, a key organized crime associate in Philadelphia, currently based in Florida. Palullo vehemently denied his connections to organized crime and in 1990 filed a libel suit in federal court in Miami against…
▶ 23:20
The suit was apparently aimed at stopping journalists from printing such statements. As the New Jersey Commission pointed out, the statute of limitation for libel suit had already ran out. And regardless, the commission could not be sued fo…
▶ 23:47
First, he got thrown in jail in New Jersey on contempt charges relating to a lawsuit accusing him of stealing $1.75 million from a pension fund of a printing company he controlled. Then he was indicted by a federal grand jury in Philadelphi…
▶ 24:13
out of a loan that he had gotten for $16 million to renovate hotels in Miami Beach. And that's kind of weird when you think about it. Why would you go to Stockton, California to get a loan when you control a whole bunch of savings and loans…
▶ 24:41
took $114,000 from Royale Group Limited to pay back a personal loan from Philadelphia Man by the name of Anthony DiSalvo at the request of two mafia-linked guys, one of which was Nicodemo Scarfo. Scarfo was the boss of the Philadelphia Mafi…
▶ 25:12
prison sentence for racketeering. The other guy, Philip Linetti, was one of Scarfo's underbosses. He was also convicted of racketeering and was cooperating with law enforcement turning state's evidence. Fred Martins, executive director of t…
▶ 25:43
Pululo is a close associate of Scarfo's. In July 91, Pululo was convicted of 50 of the 55 counts against him in Philadelphia, including the theft of the $114,000 to repay a loan shark commanded by the Philadelphia mafia boss, Scarfo. All of…
▶ 26:14
due to technicalities. Before he was jailed on contempt charges, Palula was already dodging a couple of bullets regarding banks and savings and loan fraud. He was the vice president of Dominion Bank in Denver when it failed. Although he was…
▶ 26:42
Then in 89, he was indicted for fraud at Savings One and SNL in Ohio. Palullo and Savings One owner, David Friedman, a Houston businessman, was charged with five counts of fraud regarding a $145,000 payment to Freeman out of a $1 million lo…
▶ 27:10
Palulo claiming the payment was prepaid interest that was not supposed to go to Freeman. Freeman was convicted and Paluno, Palulo was not. Freeman had bought Savings One in 83. Around the same time, Mario Renda and Martin Swimmer were also …
▶ 28:05
In 1980, Friedman was involved in a scam to sell grain to Iran in violation of the embargo during the Iran hostage crisis. Friedman lost a federal lawsuit over this in New York. Meanwhile, before any of the savings and loan fraud hit the fa…
▶ 28:26
And his companies and relatives were borrowing from Sunshine State Bank to the tune of $15 million, making them the single largest borrower at the bank. He was also a director of King Crown Corporation, who owned about 6% of Sunshine. All t…
▶ 28:51
Also, long after Sunshine Bank was closed and Ray Corona went to jail, one of the Coronas was found working for Palulo. Needless to say, all of Palulo's loans from Sunshine became delinquent. So he sold Don Pedro Island off the west coast o…
▶ 29:48
The comptroller guy that blocked the investigation into this nefarious shit several years before. Even after the deal, Polulo again defaulted on his loans, this time in late 85. The bank was on his last legs. So what did it do? It hired two…
▶ 30:18
and in addition, issue $15 million in bank stock to Royale, which they're also associated with. The bank regulators halted this transaction, pointing out that it would basically wipe out any personal guarantees of which Palulo was on the ho…
▶ 30:48
and a two-acre track in Atlantic City that Polulo wanted to develop as a casino. To that purpose, Polulo had made an agreement with Resorts International, which was a casino company linked to Meyer Lansky, the mob. Like any good mobster, wh…
▶ 31:50
That's where Polulo steps in. By that time, Sunshine State Bank had been closed for two years and Ray Corona was in jail on his 20-year term. After Tony Fernandez and Steve Samos testified against him, for which Samos got immunity from pros…
▶ 32:21
In the summer of 86, the Coronas and Palulo had fought a hard, protracted battle with the feds to keep it open. The first real trouble occurred in 83 after federal bank examiners found that Sunshine had a high probability of failure and dec…
▶ 32:51
So he saved it. To bolster the bank's capital and keep it alive, Ray Corona bought the land that the bank headquarters was on and some of the surrounding property, including tracts that Palulo had sold to the bank for a profit of $160,000. …