September 18, 2025 • 51 mins
The salad oil business is slippery stuff. Sometimes you have to grease some palms to get what you want. You have to be slick. And you have to trim the fat to keep your business profitable. Lubricating the cogs of international trade...okay, you get the picture. This guy dealt in oil and got himself into serious trouble.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Ridiculous Crime is a production of iHeartRadio En Elizabeth.
Speaker 2 (00:08):
How are you doing?
Speaker 3 (00:09):
Yeah? You know fair too Midland? I how about you?
How you doing? Hanging in there?
Speaker 2 (00:13):
All right?
Speaker 3 (00:15):
You know it's ridiculous, Yes, Okay, My man's Seth Rogan.
You see, he got nominated for a bunch of Emmys
for a show The Studio. Yeah, love that show, you
love that show? Well, you know, he also was in
I listen to a lot of old radio, as you know,
and one of the old radio shows I like is
called The Green Hornet. He made a movie back in
(00:35):
the day for The Green Hornet. Yeah, not one of
his better movies. So I went to it. I of
course is supporting the idea, but it wasn't that.
Speaker 2 (00:43):
Great anyway, report him in whatever time.
Speaker 3 (00:45):
Oh my god. But what I found out recently was
there was almost a magical villain character in The Green Hornet.
It was well, guess guess who would I be the
most thrilled would be a villain in The Green Hornet.
It's an actor I've talked about many times on this show,
my potential new bestie.
Speaker 2 (01:04):
Nicholas Cage.
Speaker 3 (01:07):
No, but Seth Rogen apparently thought that Nicholas Cage was
not right for the part.
Speaker 2 (01:13):
Yeah, I'm a little distracting.
Speaker 3 (01:14):
But it wasn't. He thought he was right for the
part initially until he started talking to Nicholas Cage about it,
and then he was like, no, I don't know. So
the way he tells it, he recounts the conversation he
had about the possibility of him being in the New
Green Hornet movie, and Nicholas Cage was like, I want
to play a bald guy but have hair tattooed on
my head and big prosthetic lips.
Speaker 2 (01:35):
And oh wow.
Speaker 3 (01:36):
Seth Rugan's like all right, And Nicholas Cage was not done.
He's like, I want to do a voice like Edward
g Robinson and he was like, Seth Rogan's like okay,
and then he's not done yet. Actually, wait, maybe not
the tattooed tear. That's something I might want to do
in real life, so it might be weird if I
also do it in a movie. And Seth Rogan's like, yeah,
(01:57):
that might make it weird. Yeah, he puts it. We
called the studio and we're like, I'm not sure we're
going to find common ground here. He's come up with
weird ideas for Nicholas Cage, which is saying something. Yeah,
Nicholas Cage talked himself out of a part that it
was like, I think probably made it.
Speaker 2 (02:15):
He liked the he he likes the idea of Nicholas Cage,
not Nicholas Cage.
Speaker 3 (02:20):
I think a lot of people have that experience until
Nicholas Cage is right there in front of them, like,
oh he's always turned up like this. It's not just
he's doing an act. This really is the man. I
love him as you know.
Speaker 2 (02:30):
Yeah, and I I back to Seth Rogan, who I
love him? You haven't seen the studio so good? Oh
my god, yes, it's it's one of my favorite shows
of late Yeah.
Speaker 3 (02:43):
Can I be really like, I don't know, sentimental and
like embarrassing. When I was back on Twitter, Seth Rogan
used to follow me and every time I ever liked
to tweet, I was like, we would make a couple
of days for me. I was like, wow, I funny
enough that Seth Rogan was like hell, yeah.
Speaker 2 (02:57):
That's now and I have like six degree of separation.
Speaker 3 (03:01):
Yeah. And also now I'm over social media, so all
I post is things where I try not to be
angry yet I don't beat that. I'm not funny, he
wore online. It's terrible.
Speaker 2 (03:08):
Oh, Seth Rogan's still missing out. Uh do you know
what else is ridiculous?
Speaker 3 (03:12):
Dude? I was hoping you did being.
Speaker 2 (03:14):
A slippery little fellow. This is Ridiculous Crime, A podcast
(03:41):
about absurd and outrageous capers, heists and cons. It's always
ninety nine percent murder free and one hundred percent ridiculous.
Damn right, Abe Froeman Sausage King of Chicaga.
Speaker 3 (03:55):
Remember that from How Could I Forget?
Speaker 2 (03:57):
Good Stuff?
Speaker 3 (03:58):
Good stuff? My sister? And I still you? Is that
in Chicago?
Speaker 2 (04:00):
Oh? Yeah, well I love that. Well I have for
you today the Tale of the Salad Oil King of
New Jersey.
Speaker 3 (04:11):
The salad oil King. This guy's so way is he
like an olive oil reporter?
Speaker 4 (04:14):
O guy?
Speaker 2 (04:15):
Oh no, no, no.
Speaker 3 (04:16):
No, he's not one of those guys.
Speaker 2 (04:17):
No. Well, he's ridiculous, okay, and pulled such a ridiculously
massive con. It's impressive.
Speaker 3 (04:26):
Oh I love that.
Speaker 2 (04:27):
I'm talking about Anthony Diangelis.
Speaker 3 (04:30):
Do not know that Tino?
Speaker 2 (04:32):
Call me Tino?
Speaker 3 (04:32):
Out of Anthony, they got Tino. Santino leads to Tino.
Speaker 2 (04:36):
No Tino.
Speaker 3 (04:37):
I like that.
Speaker 2 (04:38):
He was born in nineteen fifteen, grew.
Speaker 3 (04:40):
Up in the Bronx okay, oh good time to rhymes were.
Speaker 2 (04:42):
Tough, Yeah, exactly, immigrant family from Italy. There were five kids,
cold Water Walk up. His dad worked on the railroad
all the livelong day for real. Yeah, that was his job.
And like many children of immigrants, Tino had to go
to work early. He didn't have the luxury or of
higher education.
Speaker 3 (04:59):
And you don't mean early in the day, I mean
early in his life.
Speaker 2 (05:01):
Yeah, although not as early as some He when he
was seventeen he left school, so that's he got to
stay longer than like my grandpa did.
Speaker 3 (05:10):
Yeah, he made it to high school and almost through
high schools exactly.
Speaker 2 (05:14):
He got a job as a meat cutter with City
Provision Company in New York City.
Speaker 3 (05:19):
So like a bulk butcher basically.
Speaker 2 (05:21):
Yeah, and well, within a couple of years he was
the manager there. He oversaw two hundred something dudes. Yeah,
Tino the knife, he told the He told this Saturday
Evening Post in nineteen sixty four, quote, I had an
exceptional ability in knowing how to process hogs. Some of
my methods like cutting hogs while moving cut the cost
(05:44):
of processing hogs enormously.
Speaker 3 (05:46):
Check out Henry Ford over here, I mean for real.
Speaker 2 (05:48):
So he did this for a few years and then
he struck out on his own. He opened his own
meat butchering company. And he'd saved two thousand dollars for that,
which is about forty.
Speaker 3 (05:58):
Five thousand today chunk of chain.
Speaker 2 (06:00):
Is not too shabby but it still wasn't enough. So
he got a loan for ten grand, that's like the
equivalent of two hundred and thirty thousand dollars today. But
the business was a success. It took off. He was
pulling in money like no one could believe. One hundred
thousand dollars after one year, three hundred thousand after three years.
(06:21):
He's just raking it in. So by the time World
War two started, business is booming. He was the big
dog in the New York meat business. And in fact,
that's how he was able to avoid serving in World
War two.
Speaker 3 (06:33):
Oh, because he's like an essential US He dodged.
Speaker 2 (06:36):
The draft because his company was a major supplier of
pork to the US Army.
Speaker 3 (06:40):
The love pork.
Speaker 2 (06:41):
Then in the army he had to be there to
oversee the business that was his contribution.
Speaker 3 (06:46):
To the war totally. He was a logistics man exactly.
Speaker 2 (06:48):
So for many industries, war is good for business for
many many and this was true for Tino. He was
making money hand over fist. Now, there there were some
who said that his success was thinking to black market
meat sales. Oh, he was never charged or busted for that.
And by the time the war ended, nobody cared.
Speaker 3 (07:07):
Oh, they didn't call him war profit.
Speaker 2 (07:08):
Heers, No, nobody cared at that point. He had cash,
He took care of people. He had a million dollars
set aside for his family. Quote in case anything ever happened,
It's like eighteen million today stashed somewhere.
Speaker 3 (07:21):
In case anything happened. I'd like to have at least
half of that for anything.
Speaker 2 (07:24):
That A million dollars stash somewhere for rainy day fund.
Pretty nice. So while we didn't have shortages of food
here in the States at that time, they for sure
had shortages all across.
Speaker 3 (07:37):
Europe total, especially Italy.
Speaker 2 (07:39):
Oh yeah, factories and farms leveled, a generation of workers killed.
Supply chain logistics are a total mess. Enter Tino. Nineteen
forty seven, he won a contract with the government of
Yugoslavia oh, for a million dollars.
Speaker 3 (07:54):
Tito liked his height. He took Tito and hand in hand.
Speaker 2 (07:59):
So what were they gonna buy from him?
Speaker 3 (08:01):
Were they gonna buy? Elizabeth?
Speaker 2 (08:02):
I love when you ask good questions. Lard, Oh, the
basics of cooking. You have salt, fat, acid, heat. Shout
out to Samine Masrot. You gotta have the fat if
you're gonna eat and keep people alive. So per the
book The Great Salad Oil Swindle by Norman Miller, quote,
according to Tino he made lifelong friends among the Yugoslavs
(08:24):
by this deal. The record shows otherwise.
Speaker 3 (08:28):
Oh d wait. If you were asking yugoslav at that time,
they're like, we have a much different version of that book.
Speaker 2 (08:35):
But by the way, is based on Miller's coverage of
Tino in the Wall Street Journal, and that eventually won
him a Pulletz serprise. Here's the thing. When the Yugoslavs
got the shipment of lard, it was not primo grease.
It was subpar. Their bits in it, I don't know.
It was an insult in essence. So they complained to
(08:58):
Tino and then they sue to get their money back.
Speaker 3 (09:01):
We want that good grease.
Speaker 2 (09:02):
Yeah, give me the good snicks. Tino paid him one
hundred thousand dollars to settle. Okay, like, fine, take the
bad grease. Here's one hundred grand, get out of my face.
So with that behind him, at Tino set his sights
on expansion. Nineteen forty nine, he got control of a
publicly traded company called aid Off Goeble Company. It was
(09:22):
a meat packing firm in New Jersey, Adolf and Gobel
aido Off Geoble, and he declared himself president. Okay, like
look at me. Then he landed a sweet contract with
the federal National School Lunch Program. Oh no, so he
would be supplying eighteen point nine million pounds of smoked
meat to be distributed in school cafeterias all across the country.
Speaker 3 (09:45):
BA sausages for everybody, jam for days. Yeah, He's like,
do you like blogei? Do you like hot dog pancakes?
We've got blog for your kids.
Speaker 2 (09:53):
There it is feeding school kids. That's a good American.
He's building a better tomorrow. But it seems like he
didn't think any more highly of the Americans than he
did of the Yugoslavia.
Speaker 3 (10:04):
He's a good businessman.
Speaker 2 (10:05):
In nineteen fifty two, the US government sued Tino. Seems
he sold subpar goods. Again the meat was so bad
they couldn't use it.
Speaker 3 (10:15):
Oh wow.
Speaker 2 (10:16):
Yeah, and more than two million pounds of meat that
were were uninspected, just in general.
Speaker 3 (10:21):
So he's like sweeping the factory floor and just got
business for the case.
Speaker 2 (10:24):
It's the bits, the scrap and the bits and so
like some didn't even go into inspection. They're like, we
can't even use this if it was good, but we
didn't bother.
Speaker 3 (10:31):
We can smell check it. This is not good.
Speaker 2 (10:33):
And then only that he overcharged the government by three
hundred and thirty seven, three hundred and seventy six dollars.
Oh okay, I thought you're gonna say percent no, like
you know, almost three hundred and forty grand. Yeah, he
overstated the weight of various shipments and that's but you
know what that equivalent is today four point one million dollars.
Like you you overcharged for four point you to the
(10:55):
government for the school kids, for the children's Tino. He
set that one out of court too. He paid a
million dollar fine.
Speaker 3 (11:03):
Okay, I was just about asking no fine, no fees.
Speaker 2 (11:05):
Oh yeah. And then his company that ate off Goebel
declared bankruptcy in nineteen fifty three and the board of
directors fired him.
Speaker 3 (11:13):
That's going to happen, how you go.
Speaker 2 (11:15):
And just to make sure he was spreading the pain
on both sides of the conflict. In May of fifty four,
the German government said it had also gotten inferior lard
from another of his companies.
Speaker 3 (11:26):
Wow.
Speaker 2 (11:27):
Yeah, So the US government investigated this found the accusations true.
Tino had to pay damages. Again, He's like.
Speaker 3 (11:34):
What you don't like my lin he walks into the court.
Speaker 2 (11:37):
Judges like you again, right, So he had to diversify
at this point. Yeah, So in nineteen fifty five he
chartered Allied Crude Vegetable Oil and Refining Corporation. Okay, that
is such a fifties corporation.
Speaker 3 (11:49):
Made, yes, and a fifty like a fake win where
you're trying to like hide what you do, try to
sound like the other guys.
Speaker 2 (11:54):
Yes, this would be an exporter doing business with foreign
country trees through aid programs that were arranged by the
Commodity Credit Corporation of the US government. And so Tino
leaned way into this. He made Allied Crude like the
dominant player in soybean oil and in cottonseed features. Wow, okay,
(12:18):
so Allied seed oils, Allied crude they traded, and basically
vegetable oil. Yeah exactly, And he was like aggressive in
expanding his company's steak in these markets. So by the
end of the fifties he was responsible. Tino was responsible
for three quarters of all edible oil shipped to Europe
Tino alone.
Speaker 4 (12:38):
Damn.
Speaker 3 (12:39):
Yeah, he's like that guy's responsible for all the cheese
on frozen cheese pizzas me. That's crazy.
Speaker 2 (12:45):
Yeah. So he had figured out that there was this
fortune to be made from two government programs, farm price
supports and foreign aid. So there just so happened to
be a huge soybean surplus in the US at the time,
and his land was to buy up as many of
the beans as he could, process it all into soybean
oil and then ship the stuff overseas on government contracts.
(13:09):
Yeah I know, because there's the subsidies at home, and
he gets that, yeah exactly, and like he could pick
up some private contracts too. Soybean oil wasn't just for
human consumption. It was commonly called salad oil, but it
had industrial applications, like you could use it in paint
and stuff, so there was a high demand for.
Speaker 3 (13:28):
It, a replacement for lindseed oil.
Speaker 2 (13:30):
Yes, so Tino got to work. Between nineteen fifty eight
and nineteen sixty two he developed out this enormous salad
oil refinery in Bayonne, New Jersey. He leased one hundred
and thirty nine oil storage tanks for the place and
like massive tank Yeah refiners, some were like five stories tough.
(13:51):
He wasn't, of course, the only guy in the game.
There were other oily sorts who wanted in on this
cash cow, but Tino had plans for that too. He
paid way is high above his competitors, and his bids
to the government were always the very lowest. It's not
really a recipe for success in most cases.
Speaker 3 (14:08):
Most times it doesn't work.
Speaker 2 (14:09):
No, But by nineteen sixty two, Allied Crude was responsible
for three quarters of the US exports of soybean and
cotton seat oil.
Speaker 3 (14:17):
That's when he made his profits.
Speaker 2 (14:19):
Yes, do you know how much that is in volume?
Seventy five percent?
Speaker 3 (14:23):
I was about ask Elizabeth, how much is that in
say volume?
Speaker 2 (14:26):
Thank you? Three hundred and sixty one million pounds. It's
a lot of oil.
Speaker 3 (14:31):
That is a bunch of oil.
Speaker 2 (14:33):
You know what. I always like to say, Yeah, takes
money to make money.
Speaker 3 (14:37):
Oh, they're gonna say, are you going to wear those pants?
Speaker 2 (14:39):
I say that too, I say, well, when you're wearing pants.
So he was buying season, he's using money to make money.
So he's buying up bean.
Speaker 3 (14:49):
Cornered in the market.
Speaker 2 (14:50):
He's buying his workers, well, giving the US government sweet deals.
If he expanded enough, though, he could make that profitable.
Speaker 3 (14:58):
Yeah, of course, very profit.
Speaker 2 (15:00):
But he needed to finance this quick expansion, you know,
get that money in as fast as he could. So
he got these massive loans and he used the oil
as collateral. You can do that apparently. So on top
of all this, Allied Crude had a really strong relationship
with a strong company.
Speaker 3 (15:18):
By the way, I would love to go into a
bank and talk to a bank manager and go I'd
like to get a very large loan of money. They're like,
what do you have. I'm like, I've got these boatloads
of oils, you guys, seed oils possibly a collateral, Yeah, totally.
Speaker 2 (15:31):
Well, this is what let me tell you why they
signed on American Express. What so, Allied Crude had ties
with American Express that gave it a positive reputation, and
it wasn't because they ran around with AMEX cards, because see,
American Express had a warehousing division. In nineteen fifty eighteen,
oh went to American Express and asked about borrowing money
(15:54):
on his oil. He gave the old Razzle Dazzle, the
old Bobby Dazzler, and he did the hard sell on
his setup. According to him, he had the most modern
vegetable oil refinery ever built. This baby could take in
three million pounds of crude salad oil a day. That
yellow gold. So AMEX, they're all.
Speaker 3 (16:12):
About it, right, sweet sweet yellow.
Speaker 2 (16:14):
In nineteen forty four, they had introduced a new service.
They wanted to get bankers really pushing their travelers checks.
Do you remember when those were a thing? It was
like big for international travel, pre electronic credit or debit cards.
So each check was like for a pre printed fixed
round amount of like one of a bunch of different
major world currencies. So if you're going to France, you'd
(16:37):
get one for like one hundred francs each or whatever,
and it was more reliable than like a random check
from a random bank in another country. Yeah, and MX
is good for it, everyone knows so in exchange for
bankers pushing these checks on people, AMEX started offering supplemental
services that would be appealing to the finance set. They
started American express Warehousing Company. They would store, inspect, and
(17:02):
vouch for stuff like the oil that commodities dealers were
using as collateral for their bank loans. So, after all,
everyone knew, you know, AMEX is good for it.
Speaker 3 (17:11):
I totally don't understand high finance where you can bring
seed oil into this like, oh, yeah, that's great.
Speaker 2 (17:16):
Well, it's a it. You know, that's your it is
a commodity.
Speaker 3 (17:19):
I get it. It's a yeah.
Speaker 2 (17:20):
Well and you can see like.
Speaker 3 (17:21):
Frozen orange juice and pork bellies.
Speaker 2 (17:23):
Right right. So Tino he paid American express Warehousing twenty
thousand dollars a week for their services. Okay, part of
the services were inspections to attest to the amount of
oil in each tank.
Speaker 3 (17:35):
All right, go put like the dipstick in.
Speaker 2 (17:37):
Yeah, And that's what made the institutions cutting these loans
feel confident and Tino he was able to get more
loans based on his connection with AMEX. So he picked
up money from Bunch Limited, Daily Procter, and Gamble Bank
of America. In all, he had loans out with fifty
one different companies. Wow, yeah, everybody lends all aware of it.
(18:00):
The No, there was one problem, only one, one very big.
There was one very big problem. Tino didn't have all
that oil. Of course, he never did. He had the
paperwork for it, and he had the attestations that the
oil was in the tanks, but not the oil itself.
Oh oily, mother, Let's take a break. When we come back,
(18:24):
let's find that oil.
Speaker 5 (18:25):
Was Elizabeth So Tino and his oil it so American Express.
Speaker 2 (18:52):
They would send inspectors out to the tanks to check
on the stock of oil. Okay, I want you to
close your eye. Oh yes, and I want you to
picture it. You are eighteen years old. You're a young
guy in New Jersey. You've just got a job thanks
(19:12):
to your uncle Giuseppe.
Speaker 3 (19:14):
He knew a guy.
Speaker 2 (19:15):
He got your cousin a job there last year. It's
a good gig, easy, and that's how you find yourself
staring out across Kill Van Kull, a tidal strait that
separates you in Bayonne, New Jersey, with stat mile seagulls
reel and dive in the air overhead as a forklift
makes its way to a warehouse behind you, Your cousin
calls you over to a small manager's shed. It's dwarfed
(19:37):
by giant wide cylinders. They're easily one hundred feet tall.
Inside the shed, a radio plays a Dean Martin tune,
but your cousin is standing outside holding a clipboard. He
tells you that the two of you are going to
be helping some inspectors today. They want to know how
much of this salad oil is in the tanks. Sounds good,
he tells you. The two of you will have to
(19:58):
climb to the top of these things. You stare up
at the closest tank, marveling at the sky above it.
The Atlantic Ocean's wind, whipping up from the Caribbean along
the warm southern coast on its way up to Canada
and Greenland and then Northern Europe, reaches like fingers through
the various bays, inlets and kills, pushing wispy clouds high
(20:19):
in the sky over your head. The juxtaposition of the
heavy industry surrounding you, oil tanks, rumbling trucks, and vast
warehouses and distant brick factories, and then the gentle rolling
hills over the kill to Staten Island. The graceful seabirds,
the open sky, the warm sun on your face. It's overwhelming.
The cousin clears his throat, looks at you with a grimace.
(20:41):
Heads up, he tells you they're here. A truck pulls
up and two men step out. They're both a bit
older and carry a good bit of weight. They're wearing
blue work jumpsuits with American express warehousing stitched on a
stiff patch on their breastpockets. They walk stiffly your way.
They like your cousin, hold clipboards. Your cousin reaches into
(21:01):
the shed, tossing his clipboard onto a desk. Then he
grabs a giant weighted tape measure and approaches the men,
with Dino still crooning in the background. They all greet
each other. Your cousin introduces you. Then he says, you're
that Dean Martin singing. He's got nothing on my cousin. Here,
my cousin, he is the voice. One day we'll all
(21:21):
know about him. You blush and shuffle your feet. You're
known in your family and the neighborhood. Is quite the singer,
a real voice. Your cousin motions for you to follow him,
and you' all head out towards the nearest tank. At
the base of the tank, one of the men says
that climbing up there is young men's work. The other
man chuckles. Your cousin tells you that the two of
you will scale the ladder to the top of the tank.
(21:42):
He'll go to the very top in the middle, you'll
stay at the edge. He'll drop the tape measure in
and get a filled percentage. He'll then shout it to you,
and you'll in turn shout it down to the men.
The two of you will repeat this on five or
six other tanks. Then you can probably call it a day.
It's ten am. This is a good gig. You and
your cousin scale the metal ladder, running up the side
(22:03):
of the tank. He drops the measuring tape in. The
two of you weight in silence until you hear the
dull thud of the weight hitting the very bottom of
the tank. Your cousin shines a flashlight into the hole
and reads the tape ninety percent full. He yells, ninety
percent fall. You yell down to the men.
Speaker 3 (22:21):
One of them.
Speaker 2 (22:21):
Scribbles on his clipboard while the other gives you a
thumbs up. You and your cousin descend, and then repeat
the process a few more times. When you're done and
watching the men cutter away in their truck, your cousin
turns to you. You both stand in the shade of
one of those enormous tanks. Can I tell you something?
He asks? Sure? You tell him there's no oil in
those tanks. I thought you said there were ninety percent full.
(22:44):
You tell him that when the weight hit the bottom,
it certainly didn't sound empty.
Speaker 4 (22:48):
Nah.
Speaker 2 (22:48):
He tells you it's a racket. And the only reason
I'm telling you is at one of these days you're
going to have to do the measuring or the moving.
The moving. You ask, oh, you got a lot to learn,
He tells you, the moving, the moving. So, Saren, let
me tell you how this all wr was.
Speaker 3 (23:06):
Please.
Speaker 2 (23:07):
So the workers they're telling the inspectors that the tanks
are basically full, and they were with water, so they'd
put like a foot or so of oil on top
of that water in case someone wanted a sample a scoop. Yeah,
But a lot of the tanks didn't have anything in
them at all, and they were connected by this like
absolute maze of pipes, and if there was an inspection
(23:27):
scheduled for the week ahead, the workers would slip into
the facility on a Sunday afternoon because there was like
not a lot of security. They'd pump oil or like
oil and water from one tank to another, and from
one that had been like recently inspected to one that
was due for inspection. So that's how they move it.
This way. There's infinite oil in the tanks. And according
to the paperwork that's you know what it says, infinite
(23:50):
oil means infinite funding. So you could take out almost unlimited.
Speaker 3 (23:55):
Loans on this against the oil.
Speaker 2 (23:56):
It's endless collateral. Yeah, And so the lenders they weren't
checking with each other as to who's lending on what.
When it came to the tanks was yeah. And then
once Tino had loans out on three times as much
oil as the tanks could hold. So he was keeping
it all together though, right at least where that grift
was concerned. So in the early sixties, Tino had another company,
(24:20):
the Shortening Company of America Shortenings. Oh yeah, he cut
a lot of corners on that one. As told in
the Great Salad Oil Swindle quote, the shiny cans of
oil packed by Shortening Corporation with the words donated by
the people of the United States of America stamp proudly
on them, were to lead to one of Tino's more
(24:41):
memorable escapades. As the cans of oil arrived overseas, they
started springing leaks. Before long, warehouses from Brazil to India
were a wash in rancid salad oil. Yeah. So he
said that he was using heavy duty tins and he
charged them for that. But this is Tino. He was
(25:02):
using really cheap containers. They leak, they broke, really easily
falls out.
Speaker 4 (25:08):
Yeah.
Speaker 2 (25:09):
When it came to his salad oil scam, no one
could figure out how he was able to make the
money he was making by buying the soybeans at the
high prices he was and then selling the oil on
the cheap. So like rumors started to circulate. Some said
that Tino was running a mob front and he was
washing dirty vice money in salad oil.
Speaker 3 (25:28):
Sure.
Speaker 2 (25:29):
Now, while there was never any proof of this, I
will say that one of his co owners of a
Chicago refinery was Herman Topel, and Herman Topel had previously
been an owner of another fat rendering company called Twin Foods.
So back to the Great Salad Oil Swindle book quote,
this outfit had been put out of business by Chicago
(25:50):
police after they discovered that among the company's stockholders were
five mob figures who'd been identified by the Senate Rackets
Committee as members of the Cosa Nostra. The police said
at least five other Cosa Nostra hoodlums were employed by
Twin Foods, and they weren't spending their time rendering fat.
Twin Foods was a headquarters for quote, loan sharking, and
(26:11):
then the book says the lending of mob money at
usurist interest rates, arson plots, and the fencing of stolen goods.
The police suspected moreover, that the activities at Twin Foods
extended into murder.
Speaker 3 (26:23):
I was wondering, if he's like down with like crazy
Joe Banano in the Chicago outfit New York, New.
Speaker 2 (26:29):
Jersey, Right, so we have Herman Topel is the owner
of Twin Foods. Twin Foods gets shut down, Topel goes
to work with Tino. Of course, I mean, it's not
definitive proof, but come on.
Speaker 3 (26:40):
But it is kind of an indictment. It's damming with allegations.
Speaker 2 (26:44):
Association will say exactly, and you you are who you
associate with.
Speaker 3 (26:49):
That's what I'm saying.
Speaker 2 (26:50):
So meanwhile, people were starting to speak up. So in
nineteen sixty Donald Miller, CEO of American Express Warehousing, he
got a call from a tips to later referred to
as the voice.
Speaker 3 (27:03):
Woo, here's a callback it is.
Speaker 2 (27:06):
The voice said that he worked the night shift at
Allied in Bayone, New Jersey, late a seconds. Could you
wrap them out? The voice told Miller, quote, the biggest
hoax ever pulled is being pulled on American Express because
there is in fact water in the tanks, and we
are counting it as oil. Whenever we went to take
inventory at the tank, we would be dropping the weight
(27:27):
into this metal chamber which was filled with soybean oil,
but the balance of the tank had water in it.
So the voice told Miller that one of Allied's large
tanks had quote a metal chamber of some kind which
went from the top of the tank to the bottom
of the tank. It was under the hole where you
would normally drop a bomb, meaning the sampling device to
determine the quality of the contents of the tank. Whenever
(27:50):
we went to take inventory in that tank. He said,
we would be dropping the bomb down this metal chamber
which was filled with soybean oil. But the balance of
the tank had water in it.
Speaker 3 (28:00):
Like a column right the whole year check So you
can drop the weight all the way down through oil,
through oil. The rest of the tank is I love that.
I may never have turned pro as a singer, but
I definitely did sing.
Speaker 2 (28:11):
You did you did? You got a voice, sonya. So
Miller he had to act, and he had that quickly.
So he demanded a surprise inspection. When the inspectors got there,
they discovered that all the tank openings were welded shut
except except for the measuring hatch. And they so they
couldn't get oil in there if they tried. And then
(28:32):
when they could actually check five of the tanks, and
they were full of water, but not always full of water.
So in the twenty four foot tanks.
Speaker 3 (28:40):
Want to waste the water in twenty four foot.
Speaker 2 (28:42):
Tanks, they had between like one and eight feet of water.
I mean, there's bound to be some water in these tanks.
Six inches was the acceptable amount. They were running up
to eight feet and so the inspectors they came back
after the weekend because they went like on you know,
Friday or whatever. They come back at the end of
the and by that time there's nothing suspicious in the
(29:02):
other tanks. The final report said that all the water
was due to quote broken steam pipes, and then business
between Allied and American Express continued uninterrupted. Are you kidding No,
I'm not kidding you. Here. Here's the thing. When a
guy stopped working for Tino and Allied most of the time,
his new gig would be as an American Express field
(29:24):
warehousing custodians, and they held the keys to the crazy
mess of pipes that connected the tanks like that were
both above and below ground these pipes. When inspectors came
that particular week, the workers just shifted the oil that
was in the supply from tank to tank, keeping one
step ahead the whole time, and the inspectors were none
the wiser. So by the end of the inspection week,
(29:46):
the inspectors they sign off even with that explanation for
extra water. Oh, we had a pipe burst. The welded openings,
yeah that was you know, we figured that out. So everything.
So around this time, Tino he's buying heavily in the
oil's futures market. And you know that's not risky. No
futures markets.
Speaker 3 (30:07):
Oh, I'm making the space over here.
Speaker 2 (30:09):
In August of nineteen sixty one, the Spanish government ordered
two hundred and seventy five million pounds of soybean oil
from Allied.
Speaker 3 (30:18):
Huh.
Speaker 2 (30:18):
It was the biggest single order of Tino's career.
Speaker 3 (30:22):
Was there any reason for this?
Speaker 2 (30:24):
Well, I'll get to that. So this is wheth thirty
six and a half million dollars today. That's a three
hundred and ninety four million dollars deal. Whoa right? And
that's when the soybean oil futures market came in handy.
So Tino or put in a heavy order on that,
and he only had because he only had fifty million
(30:44):
pounds of oil in the American express field warehousing tanks.
There's no way he could fill the order with that,
so it made sense to buy the futures. He went
in big. But then something happened. Let's pause there, let's
order some soybeans, and when we come back, I will
be charitable and tell you what the bad thing is,
(31:23):
zaren saren. So we have Tino unable to fulfill the
Spanish order from his New Jersey tanks. So he buys
heavily in soybean futures. And then the Spanish government decided
it didn't want the soybean oil. After all, they had
not paid the contract. It was all still in talks.
(31:43):
So Tino he's positive he knew what happened. He's like,
I know why they backed out. I don't Opus Day.
Speaker 3 (31:51):
The churches.
Speaker 2 (31:53):
He was certain that Opus Day killed the deal because
it would have made him too powerful in Spain.
Speaker 3 (31:58):
It's like a small Catholic set to people oftentimes relate to,
like the nice templar and like the finances of the Vatican. Yeah,
he thinks they're running a coup on him from Spain.
Speaker 2 (32:07):
Well, they don't want him to be too powerful in
Spain exactly. I mean that was my first instinct.
Speaker 3 (32:12):
I would have it was my third right.
Speaker 2 (32:14):
I'm now I'm going to blame Opus Day secretly having
it out for me and not wanting me to succeed,
Like they're threatened by me. They're the source of any
bad reviews I get for this. Oh yeah, it's not
that I annoy people. It said Opus Day doesn't want
me to shine.
Speaker 3 (32:30):
Yeah, they are probably an agent of Opus day, trying
to bring you down exactly.
Speaker 2 (32:34):
I know it all now. So this whole thing started
a downward spiral for Tino Opus day one Tino zero.
He spent the next couple of years speculating on futures,
but those never panned out. He was forced to get
loans to pay back money that he was never going
to have. Yeah, it wasn't Opus Day, by the way,
it wasn't. No, are you surprised a little bit?
Speaker 6 (32:56):
No.
Speaker 2 (32:56):
See, there had been a forecast of a really like
super bad olive crop in Spain and thus very little
olive oil, which means they must have been desperate to
order salad oil because like they cook, everything's done with
olive oil. They're like, all right, well we'll take that garbage.
But then the olive oil crop was a boom. They
didn't need to import this crap oil. Olive oil is
(33:19):
so superior, by the way, I love it. So that's
why they backed out of the deal.
Speaker 3 (33:24):
So so Spain took the olive oil. That was like No.
Speaker 2 (33:28):
Spain was like, look, we're not going to get any
olive oil this year. It looks terrible for us. Let's
get let's put it in order. And then all of
a sudden, they're like no, no, no, we're going to have
like a we got and they're like, okay, cancel the order.
Thank god we didn't pay it in New Jersey.
Speaker 3 (33:42):
Yeah.
Speaker 2 (33:43):
Just we're so glad we haven't put any money into that.
And I'm so glad Opus Day told us to do it.
So Tino he's now he's got it. He's got to
make some money here. So he tried to cut deals
with India and Indonesia for food for peace.
Speaker 3 (33:59):
Get back to the US aid program, right, and that's.
Speaker 2 (34:01):
What he was, like, that sweet you know cash money
there those stumbled. Part of the problem was that the
US Agriculture Department switched the emphasis on edible oil donations
to forward relief agencies from vegetable oil to butter oil.
And I'm guessing that this is around the time they
needed to bolster the dairy industry in the States. Ah okay,
so they went from like bolstering soybeans to propping up dairy. Sure,
(34:26):
so Allied sold some vegetable oil to Turkey, but not
as much as the futures traders had expected. Yeah, prices dropped.
Tino lost money.
Speaker 3 (34:35):
He couldn't short himself like he couldn't buy like the.
Speaker 2 (34:38):
Yeah in nineteen sixty two, Tino, he's still a large
player in commodities market. Oh yeah, And that's why he
thought he could corner the soybean oil market completely big plans.
He wanted to answers, I should always go bigger.
Speaker 3 (34:55):
Of course. He wanted to use business I don't think right.
Speaker 2 (34:58):
No, he wanted to use all those commodity inventories that
he had loans on from Wall Street banks finance. He
was going to drive up the price of his vegetable
oil holdings and that would raise the value of the inventory,
bring in a profit from all these future contracts. And
he kept talking about, oh you know, in his mind
(35:19):
he was just on the brink of a ton of
major contracts like it was that he could it was
so close he could taste it.
Speaker 3 (35:25):
Rather turned here there.
Speaker 2 (35:27):
Oh yeah, it's just just a matter of just one
little thing. And if I can keep up his day
off my tail. But these were massive purchases, massive purchases,
and he needed big bucks behind them. And he got
those big bucks. He got loans from two big name,
old school, well respected Wall Street brokers, Ira Hopped and J. R.
(35:48):
Williston and bean. Okay, those sound fancy.
Speaker 3 (35:52):
Of course to someone like me on education, that sounds
like you must be rich.
Speaker 2 (35:58):
They also handled his few futures trading with commissions to
the tune of like one hundred thousand dollars a month.
So they're loving it.
Speaker 3 (36:05):
That's fluid.
Speaker 2 (36:06):
And for collateral they took those warehouse receipts for the
non existent oil. They then turned around and used that
paper to get loans from Chase, Manhattan and Continental Illinois banks,
all loans up and down everything. It's just a big paper,
you know.
Speaker 3 (36:21):
Just pushing paper around each other.
Speaker 2 (36:23):
House of cards. So, according to the New York Times,
in nineteen sixty three, Allied Quote held contracts to deliver
at a future date between eighteen thousand and twenty thousand
railroad tank cars of vegetable oil. Each contract is equal
to a single tank car containing sixty thousand pounds of oil.
It's a lot of oils are that is oily. So
(36:44):
by the end of August of nineteen sixty three, Tino
owned seventy nine percent of the cottonseed oil futures contracts
on the Produce Exchange and twenty percent of the soybean
oil contracts on the border trade. This is an insane amount.
Speaker 3 (37:00):
This is way more than cornering the market.
Speaker 2 (37:01):
Ye are are the market. And then there was strong
pressure on futures prices, so the agg Department was reducing
estimates on exports. Tino had to walk away from buying
futures for a while prices were in for a sharp drop.
He's gonna lose. Yeah, he's gonna lose everything plus some,
including his reputation and his pride. So, like an elder
(37:22):
bank robber, he figured he'd take one last score, one
final hit.
Speaker 3 (37:27):
Bro, You've been so lucky for so long.
Speaker 2 (37:29):
I figured if he kept on buying futures contracts, demand
for the oil would somehow just materialize.
Speaker 3 (37:35):
Oh, so he would basically trigger people to believe the
market was stronger than it will.
Speaker 2 (37:38):
Well, if you build it, they will come.
Speaker 3 (37:40):
Of course. Why didn't I think like that.
Speaker 2 (37:41):
In September of nineteen sixty three, the Soviets sunflower crop failed.
Oh this kicked off whispers that they'd be in the
market for US vegetable oil, and that jumped to the market.
In six weeks, soybean oil climbed from nine dollars twenty
per pound to ten dollars three. There's a huge spike
in six weeks.
Speaker 3 (38:02):
It's a huge one.
Speaker 2 (38:03):
And in those six weeks, American Express warehousing receipts for
soybean oil pledged for loans to Allied went from seven
hundred and fifty two million pounds to nine hundred and
thirty seven million pounds. That was the amount of all
the stalks of all the soybean oil in the country,
all the oil. Impossible. Yeah, it's he's he's saying he
(38:26):
has more than all the oil that exists.
Speaker 3 (38:28):
Who is he? Sam Altman?
Speaker 2 (38:30):
So eight hundred million pounds of that that he's claiming
doesn't even exist. So when you do the math on it,
Tino had taken the American Express for sixty million dollars. Yeah, Elizabeth,
that's six hundred and thirty three million dollars today.
Speaker 3 (38:44):
Are you kidding me?
Speaker 2 (38:45):
No, I'm not kidding you. American Express.
Speaker 3 (38:48):
I can't imagine American Express is gonna be cool with this, Like,
I'm surprised they haven't had this man murdered.
Speaker 2 (38:52):
Right, So would the Soviets be buying salad oil from
their sworn enemy?
Speaker 3 (38:58):
Imagine they'd be trading for it. They can't give you rubles,
you know what I mean? They're not going to buy
from the capitalists.
Speaker 2 (39:03):
Of course not. Yeah, that was rubbish. That was absolute rubbish.
And the Soviets they had to make a statement denying,
did you say. As a result, as a result, commodity
prices on soybean and cottonseed oil crater. According to Time
magazine quote, the commodities exchanges began pressuring Ira Hopped, by
(39:26):
far the biggest broker for DeAngelis, to put up another
fourteen point one million dollars in margin to cover Tino's
vast contracts. The hop brokers frantically called Tino for the money,
but Tino could not make it, so Hopped went bankrupt.
He bankrupted this huge Wall Street Yeah.
Speaker 3 (39:45):
I imagine had been a Wall Street brokerage for a very
long time. Generations possible.
Speaker 2 (39:49):
Yes, Allied Creued Vegetable oil refining company. They filed for
bankruptcy on November nineteenth, nineteen sixty three.
Speaker 3 (39:56):
This is like trading places. The plot line is trading
trices like all the Floyd Future and killing somebody on
the wall streets.
Speaker 2 (40:00):
The futures market crashed. Soybean oil closed at nine eighty
seven on Friday, November fifteenth, nine dollars on Monday, seven
to seventy five on Tuesday, it's just in free fall.
All of Tino's loan values were gone. The New York
Produce Exchange halted all trading on cottonseed oil. Dang dang,
(40:21):
so this like they filed for bankruptcyed November nineteen. Oka
of nineteen sixty three. President John F. Kennedy was assassinated
on Friday, November twenty second.
Speaker 3 (40:31):
Yeah, it was just a guess that. Just a couple
days later, Bigger Now shocked.
Speaker 2 (40:35):
The markets and they closed early, and they didn't open
until Tuesday, November twenty six. According to Business Insider quote,
the closure of the New York Stock Exchange gave the
exchange some breathing space to address the problems DeAngelis had created.
If the New York Stock Exchange didn't resolve this problem,
not only would the collapse discourage investment by small investors,
(40:57):
but the US Securities and Exchange Commission would interner, reducing
the New York Stock Exchange is power. The NYSE solved
the problem by imposing a twelve million dollar assessment on
exchange members and used the money to make Ira Hopton
company customers whole creditors were not as lucky. American Express
(41:18):
and other lenders lost millions. For the first time, the
New York Stock Exchange had assumed responsibility for a member
firm's failure. When the stock market reopened on Tuesday, it
quickly recovered and moved up for the rest of the year.
Speaker 3 (41:33):
Damn, So it's a stockholder all.
Speaker 2 (41:37):
The members, Yeah, exactly, taxed all the members in order
to save themselves. So with everything in shambles, the creditors
finally did a real investigation into the New Jersey tanks.
Like with Fresh Inspectors, anyone associated with Allied or American
Express not there, so we know that there weren't one
point eight billion pounds of salad oil up in there.
Speaker 3 (41:58):
How much was this.
Speaker 2 (42:00):
Nearly one hundred million pounds And as re laid in
the Great Salad Oil Swindle Quote Inspectors opened a big
faucet which was supposed to hold three million, five hundred
and seventy five thousand dollars worth of soybean oil and
salt water poured out for twelve days, The tanks, floating
(42:21):
roof sank and sank and sank, until finally the false
chamber welded into the underside of the roof, which held
a few hundred pounds of soybean oil came to rest
at the bottom of the tank. After finally checking all
the tanks which they could find, the inspectors had found
only one hundred and thirty four million pounds of stuff,
(42:41):
excluding salt water that looked like salad oil or animal fat.
The inspectors still could not firmly identify the contents, but
they estimated about half the contents was quote soap stock,
a residue of the salad oil refining process worth only
about two cents a pound. Checking the records of the
tanks allied least from the owner of the tank farm.
(43:04):
The inspectors also discovered that American express Warehousing listed tanks
on their books that in fact belonged to Petroleum Storage Company.
For example, the four tanks were where bunges one hundred
and sixty million pounds of soybean oil were supposed to
be stored had always been filled with gasoline.
Speaker 3 (43:23):
So when you're talking soap stock, you mean like basically
like the cheapest like lard, like so like fats that
could be used for like the yeah, you throw some
lyon there and you can make soap, but this is
like not supposed to be eaten.
Speaker 2 (43:36):
Or used industrial soap. Yeah, it's not primotagulio. Wow, sixteen
companies and two brokerage houses were forced into bankruptcy. How
many sixteen companies two brokerage houses, Zaron? Where was the money?
Speaker 3 (43:52):
I'm guessing the overseas Somewhere in Swiss bank accounty.
Speaker 2 (43:56):
About forty million went to soybean futures who cashed in
when prices dropped. Another sixty million went to pay for
the rapid expansion of the refining operation, covering operating losses
and like paying interest charges on loans. And then there
are the incalculable millions that went to friends, family, business associates.
(44:19):
Tino was drawing a salary of about one hundred thousand
a year, which is like a million in today's dollars
in But you know, he was known to spread his
money around so that all these millions, who knows probably
bank account.
Speaker 3 (44:33):
He really wasn't diverting a lot to like some weird
foundation he had or anything like that. He just gave
it to everyone he knew. And that because everyone knowed him,
favors and so forth right right.
Speaker 2 (44:43):
So in January of nineteen sixty four, the Justice Department
got an eighteen count indictment against him. They charged Dino
with transporting across state lines forty million dollars worth of
forged warehouse receipts for vegetable oil. He pleaded not guilty
to all counts, and he was looking at a ten
thousand dollars fine and ten years in jail on each
(45:04):
count eighteen counts. In nineteen sixty five, he turned around
and did plead guilty.
Speaker 3 (45:09):
He's like fifty at this point because he's born like nineteen.
Speaker 2 (45:12):
Fifteen, ninety fifteen, so he has fifty years old. He
winds up, Okay, you know what, I'm gonna plead guilty
to four federal counts of fraud and conspiracy. He got
ten years in prison, but not really because there's this
new section at the time of the Federal Criminal Code,
and it turned Tino over to the personal custody of
(45:32):
US Attorney General Nicholas Katzenbach. Really, and Tino would be
subject to FBI questioning about the details of everything he did,
and then the US Director of Prisons would report to
the judge and either affirm the sentence suggest a reduction
or recommend that Tino be put on probation immediately, so
(45:53):
by cooperating he could be free, like inside of three months.
Speaker 3 (45:57):
So they basically wanted him to flip on anyone who
worked with They're kind of hoping there was some rico mobs.
Speaker 2 (46:01):
Yeah, I mean, when you think about who his associates were,
that's what I'm guessing. I'm guessing it had something to
do with this thing of ours they wanted him to rat.
According to Time magazine quote, although he pleaded guilty, powerful
forces were working against me and on the Department of
Agriculture quote they called me a down there. So I
guess his FBI questioning didn't go so well.
Speaker 3 (46:24):
Doesn't sound like it.
Speaker 2 (46:25):
He got sentenced to twenty years. He served seven of
those and got out in nineteen seventy.
Speaker 3 (46:31):
Two seven on twenty uh huh.
Speaker 2 (46:32):
According to MSN quote. In nineteen eighty, Tino was back
in prison for a seven year sentence after being found
guilty of masterminding a scheme that cheated farmers and their
suppliers out of thirteen million dollars. In nineteen ninety three,
he scored another seven year prison sentence for using forged
bank letters to buy a million dollars in pork from
(46:53):
a Canadian company.
Speaker 3 (46:55):
Back in pork and all the way back to the beginning, all.
Speaker 2 (46:57):
The way and Tino, you know, ninety three.
Speaker 3 (47:00):
So he's like, oh, yeah, once you find you're good
at something, you gotta stick with it.
Speaker 2 (47:06):
Yeah. He really all he.
Speaker 3 (47:07):
Knows how to do is to cheat on major purchases.
Speaker 2 (47:10):
He passed away at the age of ninety three in
two thousand and nine. Wow, rip salad oil, swindler king, Dude.
Speaker 3 (47:19):
You expect all this from like, Hey, I want olive oil.
I'd love that it's in like cottonseed oil.
Speaker 2 (47:25):
So what's your ridiculous takeaway?
Speaker 3 (47:28):
I mean, like you always kind of guess when it
comes to these big contracts, like, oh, it's kind of shady,
it's hanky. There's people who are doing corruption, but like
this scale that he went for where he's controlling the
whole market, the arrogance, and he didn't think that he
would be found out. But there are so many people reliant.
Like when I made the joke earlier about Sam Altman,
(47:50):
it's because when you start hyping a market and everyone's
listening to you as the major player in the market.
There's gonna be a lot of people who are gonna
like question you. A lot of journalists are gonna be
looking for stuff, a lot of regulators. It's just you've
increase the amount he should have Like not that he
should have gone smaller, but you think it he would
be a little more savvy. And they kind of like,
I don't know, like have some of it be real?
(48:12):
You know, like yeah, like there's got to be it
can't be that. It's it's all just whatever sea water
and a little bit of oil on the top.
Speaker 2 (48:18):
You're right, there's too much of a chasm between what
was possible and what he was promising.
Speaker 3 (48:23):
There's like nothing you couldn't I understand. Like he made
the mistake with the futures and Opus day and all that,
but he was doing that for decades. Is like, bro,
come on, like quit while you're ahead at some point,
exactly what yours a particular takeaway?
Speaker 2 (48:37):
While you're ahead at some point.
Speaker 3 (48:38):
You take mine? What's yours?
Speaker 2 (48:39):
That's my took it? Wow, it's my takeaway now.
Speaker 3 (48:42):
Yeah, my grandma gave me that takeaway.
Speaker 2 (48:47):
I would like a talk back, I think, Oh.
Speaker 3 (48:53):
My god, I.
Speaker 6 (48:58):
Love Hi. Mandy from Canada. Here. Whenever Elizabeth mentions Regina
corn Tower, I'm reminded of driving across Canada with my
husband and stepson, and twenty odd years ago, we've made
it to Saskatchewan, stopped for gas and after paying, I
told my husband the clerk said it would be about
(49:19):
another two hours to get to Regina. At this moment,
my five year old stepson, said Mandy in a shocked voice.
I calmly told him, I said, Regina, not Vagina.
Speaker 2 (49:32):
Ha.
Speaker 4 (49:34):
I like that.
Speaker 3 (49:35):
The boy knew all the proper terminology, you know, teach
a kid physiology.
Speaker 2 (49:39):
That's right, the proper is amazing. Oh my goodness, that's
all Regina Regina Vagina. Uh. That's it for today. You
can find us online at Ridiculous Crime dot com. Now
we've been winning a lot of.
Speaker 3 (49:54):
Awards lately, nobody's getting nominated.
Speaker 2 (49:57):
But things have taken a turn for the worst. Oh no,
we were recently given detention in mister de Wolfe's science class,
and so it's iss in school suspension. OK, but art
we got we gotta, you know, turn this ship around, Saren,
you know, straight up and fly right.
Speaker 3 (50:17):
Was it for us or for the website and for
the just for the website.
Speaker 2 (50:20):
Goodness just for the website. We're also at Ridiculous Crime
on both Blue Sky and Instagram. We're on YouTube a
Ridiculous Crimes pod. Email us at Ridiculous Crime at gmail
dot com. Leave us a talk back on the iHeart
app reach out. Ridiculous Crime is hosted by Elizabeth Dutton
(50:44):
and Zaren Burnett, produced and edited by the Avocado Oil
King of Atlanta Dave Cousten, starring Annals Rutgers. Judith Research
is by One Thousand Island Kingpin Marissa Brown. The theme
song is by Ranch Magnet Thomas Lee and Green Goddess
Traffic Travis Dunn. Post wardrobe is provided by Botany five hundred.
(51:04):
Guest hair and makeup by Sparkleshot and mister Andre. Executive
producers are Ben Mayonnai's is a Legitimate Salad Dressing Bowlin
and Noel Heck Mayo is just Legit Full stop.
Speaker 4 (51:17):
Rounds Crime, Say It one More Times Crime.
Speaker 1 (51:29):
Ridiculous Crime is a production of iHeartRadio four more Podcasts.
My Heart Radio visit the iHeartRadio app, Apple Podcasts, or
wherever you listen to your favorite shows.
Ridiculous Crime is a production of iHeartRadio En Elizabeth.
Speaker 2 (00:08):
How are you doing?
Speaker 3 (00:09):
Yeah? You know fair too Midland? I how about you?
How you doing? Hanging in there?
Speaker 2 (00:13):
All right?
Speaker 3 (00:15):
You know it's ridiculous, Yes, Okay, My man's Seth Rogan.
You see, he got nominated for a bunch of Emmys
for a show The Studio. Yeah, love that show, you
love that show? Well, you know, he also was in
I listen to a lot of old radio, as you know,
and one of the old radio shows I like is
called The Green Hornet. He made a movie back in
(00:35):
the day for The Green Hornet. Yeah, not one of
his better movies. So I went to it. I of
course is supporting the idea, but it wasn't that.
Speaker 2 (00:43):
Great anyway, report him in whatever time.
Speaker 3 (00:45):
Oh my god. But what I found out recently was
there was almost a magical villain character in The Green Hornet.
It was well, guess guess who would I be the
most thrilled would be a villain in The Green Hornet.
It's an actor I've talked about many times on this show,
my potential new bestie.
Speaker 2 (01:04):
Nicholas Cage.
Speaker 3 (01:07):
No, but Seth Rogen apparently thought that Nicholas Cage was
not right for the part.
Speaker 2 (01:13):
Yeah, I'm a little distracting.
Speaker 3 (01:14):
But it wasn't. He thought he was right for the
part initially until he started talking to Nicholas Cage about it,
and then he was like, no, I don't know. So
the way he tells it, he recounts the conversation he
had about the possibility of him being in the New
Green Hornet movie, and Nicholas Cage was like, I want
to play a bald guy but have hair tattooed on
my head and big prosthetic lips.
Speaker 2 (01:35):
And oh wow.
Speaker 3 (01:36):
Seth Rugan's like all right, And Nicholas Cage was not done.
He's like, I want to do a voice like Edward
g Robinson and he was like, Seth Rogan's like okay,
and then he's not done yet. Actually, wait, maybe not
the tattooed tear. That's something I might want to do
in real life, so it might be weird if I
also do it in a movie. And Seth Rogan's like, yeah,
(01:57):
that might make it weird. Yeah, he puts it. We
called the studio and we're like, I'm not sure we're
going to find common ground here. He's come up with
weird ideas for Nicholas Cage, which is saying something. Yeah,
Nicholas Cage talked himself out of a part that it
was like, I think probably made it.
Speaker 2 (02:15):
He liked the he he likes the idea of Nicholas Cage,
not Nicholas Cage.
Speaker 3 (02:20):
I think a lot of people have that experience until
Nicholas Cage is right there in front of them, like,
oh he's always turned up like this. It's not just
he's doing an act. This really is the man. I
love him as you know.
Speaker 2 (02:30):
Yeah, and I I back to Seth Rogan, who I
love him? You haven't seen the studio so good? Oh
my god, yes, it's it's one of my favorite shows
of late Yeah.
Speaker 3 (02:43):
Can I be really like, I don't know, sentimental and
like embarrassing. When I was back on Twitter, Seth Rogan
used to follow me and every time I ever liked
to tweet, I was like, we would make a couple
of days for me. I was like, wow, I funny
enough that Seth Rogan was like hell, yeah.
Speaker 2 (02:57):
That's now and I have like six degree of separation.
Speaker 3 (03:01):
Yeah. And also now I'm over social media, so all
I post is things where I try not to be
angry yet I don't beat that. I'm not funny, he
wore online. It's terrible.
Speaker 2 (03:08):
Oh, Seth Rogan's still missing out. Uh do you know
what else is ridiculous?
Speaker 3 (03:12):
Dude? I was hoping you did being.
Speaker 2 (03:14):
A slippery little fellow. This is Ridiculous Crime, A podcast
(03:41):
about absurd and outrageous capers, heists and cons. It's always
ninety nine percent murder free and one hundred percent ridiculous.
Damn right, Abe Froeman Sausage King of Chicaga.
Speaker 3 (03:55):
Remember that from How Could I Forget?
Speaker 2 (03:57):
Good Stuff?
Speaker 3 (03:58):
Good stuff? My sister? And I still you? Is that
in Chicago?
Speaker 2 (04:00):
Oh? Yeah, well I love that. Well I have for
you today the Tale of the Salad Oil King of
New Jersey.
Speaker 3 (04:11):
The salad oil King. This guy's so way is he
like an olive oil reporter?
Speaker 4 (04:14):
O guy?
Speaker 2 (04:15):
Oh no, no, no.
Speaker 3 (04:16):
No, he's not one of those guys.
Speaker 2 (04:17):
No. Well, he's ridiculous, okay, and pulled such a ridiculously
massive con. It's impressive.
Speaker 3 (04:26):
Oh I love that.
Speaker 2 (04:27):
I'm talking about Anthony Diangelis.
Speaker 3 (04:30):
Do not know that Tino?
Speaker 2 (04:32):
Call me Tino?
Speaker 3 (04:32):
Out of Anthony, they got Tino. Santino leads to Tino.
Speaker 2 (04:36):
No Tino.
Speaker 3 (04:37):
I like that.
Speaker 2 (04:38):
He was born in nineteen fifteen, grew.
Speaker 3 (04:40):
Up in the Bronx okay, oh good time to rhymes were.
Speaker 2 (04:42):
Tough, Yeah, exactly, immigrant family from Italy. There were five kids,
cold Water Walk up. His dad worked on the railroad
all the livelong day for real. Yeah, that was his job.
And like many children of immigrants, Tino had to go
to work early. He didn't have the luxury or of
higher education.
Speaker 3 (04:59):
And you don't mean early in the day, I mean
early in his life.
Speaker 2 (05:01):
Yeah, although not as early as some He when he
was seventeen he left school, so that's he got to
stay longer than like my grandpa did.
Speaker 3 (05:10):
Yeah, he made it to high school and almost through
high schools exactly.
Speaker 2 (05:14):
He got a job as a meat cutter with City
Provision Company in New York City.
Speaker 3 (05:19):
So like a bulk butcher basically.
Speaker 2 (05:21):
Yeah, and well, within a couple of years he was
the manager there. He oversaw two hundred something dudes. Yeah,
Tino the knife, he told the He told this Saturday
Evening Post in nineteen sixty four, quote, I had an
exceptional ability in knowing how to process hogs. Some of
my methods like cutting hogs while moving cut the cost
(05:44):
of processing hogs enormously.
Speaker 3 (05:46):
Check out Henry Ford over here, I mean for real.
Speaker 2 (05:48):
So he did this for a few years and then
he struck out on his own. He opened his own
meat butchering company. And he'd saved two thousand dollars for that,
which is about forty.
Speaker 3 (05:58):
Five thousand today chunk of chain.
Speaker 2 (06:00):
Is not too shabby but it still wasn't enough. So
he got a loan for ten grand, that's like the
equivalent of two hundred and thirty thousand dollars today. But
the business was a success. It took off. He was
pulling in money like no one could believe. One hundred
thousand dollars after one year, three hundred thousand after three years.
(06:21):
He's just raking it in. So by the time World
War two started, business is booming. He was the big
dog in the New York meat business. And in fact,
that's how he was able to avoid serving in World
War two.
Speaker 3 (06:33):
Oh, because he's like an essential US He dodged.
Speaker 2 (06:36):
The draft because his company was a major supplier of
pork to the US Army.
Speaker 3 (06:40):
The love pork.
Speaker 2 (06:41):
Then in the army he had to be there to
oversee the business that was his contribution.
Speaker 3 (06:46):
To the war totally. He was a logistics man exactly.
Speaker 2 (06:48):
So for many industries, war is good for business for
many many and this was true for Tino. He was
making money hand over fist. Now, there there were some
who said that his success was thinking to black market
meat sales. Oh, he was never charged or busted for that.
And by the time the war ended, nobody cared.
Speaker 3 (07:07):
Oh, they didn't call him war profit.
Speaker 2 (07:08):
Heers, No, nobody cared at that point. He had cash,
He took care of people. He had a million dollars
set aside for his family. Quote in case anything ever happened,
It's like eighteen million today stashed somewhere.
Speaker 3 (07:21):
In case anything happened. I'd like to have at least
half of that for anything.
Speaker 2 (07:24):
That A million dollars stash somewhere for rainy day fund.
Pretty nice. So while we didn't have shortages of food
here in the States at that time, they for sure
had shortages all across.
Speaker 3 (07:37):
Europe total, especially Italy.
Speaker 2 (07:39):
Oh yeah, factories and farms leveled, a generation of workers killed.
Supply chain logistics are a total mess. Enter Tino. Nineteen
forty seven, he won a contract with the government of
Yugoslavia oh, for a million dollars.
Speaker 3 (07:54):
Tito liked his height. He took Tito and hand in hand.
Speaker 2 (07:59):
So what were they gonna buy from him?
Speaker 3 (08:01):
Were they gonna buy? Elizabeth?
Speaker 2 (08:02):
I love when you ask good questions. Lard, Oh, the
basics of cooking. You have salt, fat, acid, heat. Shout
out to Samine Masrot. You gotta have the fat if
you're gonna eat and keep people alive. So per the
book The Great Salad Oil Swindle by Norman Miller, quote,
according to Tino he made lifelong friends among the Yugoslavs
(08:24):
by this deal. The record shows otherwise.
Speaker 3 (08:28):
Oh d wait. If you were asking yugoslav at that time,
they're like, we have a much different version of that book.
Speaker 2 (08:35):
But by the way, is based on Miller's coverage of
Tino in the Wall Street Journal, and that eventually won
him a Pulletz serprise. Here's the thing. When the Yugoslavs
got the shipment of lard, it was not primo grease.
It was subpar. Their bits in it, I don't know.
It was an insult in essence. So they complained to
(08:58):
Tino and then they sue to get their money back.
Speaker 3 (09:01):
We want that good grease.
Speaker 2 (09:02):
Yeah, give me the good snicks. Tino paid him one
hundred thousand dollars to settle. Okay, like, fine, take the
bad grease. Here's one hundred grand, get out of my face.
So with that behind him, at Tino set his sights
on expansion. Nineteen forty nine, he got control of a
publicly traded company called aid Off Goeble Company. It was
(09:22):
a meat packing firm in New Jersey, Adolf and Gobel
aido Off Geoble, and he declared himself president. Okay, like
look at me. Then he landed a sweet contract with
the federal National School Lunch Program. Oh no, so he
would be supplying eighteen point nine million pounds of smoked
meat to be distributed in school cafeterias all across the country.
Speaker 3 (09:45):
BA sausages for everybody, jam for days. Yeah, He's like,
do you like blogei? Do you like hot dog pancakes?
We've got blog for your kids.
Speaker 2 (09:53):
There it is feeding school kids. That's a good American.
He's building a better tomorrow. But it seems like he
didn't think any more highly of the Americans than he
did of the Yugoslavia.
Speaker 3 (10:04):
He's a good businessman.
Speaker 2 (10:05):
In nineteen fifty two, the US government sued Tino. Seems
he sold subpar goods. Again the meat was so bad
they couldn't use it.
Speaker 3 (10:15):
Oh wow.
Speaker 2 (10:16):
Yeah, and more than two million pounds of meat that
were were uninspected, just in general.
Speaker 3 (10:21):
So he's like sweeping the factory floor and just got
business for the case.
Speaker 2 (10:24):
It's the bits, the scrap and the bits and so
like some didn't even go into inspection. They're like, we
can't even use this if it was good, but we
didn't bother.
Speaker 3 (10:31):
We can smell check it. This is not good.
Speaker 2 (10:33):
And then only that he overcharged the government by three
hundred and thirty seven, three hundred and seventy six dollars.
Oh okay, I thought you're gonna say percent no, like
you know, almost three hundred and forty grand. Yeah, he
overstated the weight of various shipments and that's but you
know what that equivalent is today four point one million dollars.
Like you you overcharged for four point you to the
(10:55):
government for the school kids, for the children's Tino. He
set that one out of court too. He paid a
million dollar fine.
Speaker 3 (11:03):
Okay, I was just about asking no fine, no fees.
Speaker 2 (11:05):
Oh yeah. And then his company that ate off Goebel
declared bankruptcy in nineteen fifty three and the board of
directors fired him.
Speaker 3 (11:13):
That's going to happen, how you go.
Speaker 2 (11:15):
And just to make sure he was spreading the pain
on both sides of the conflict. In May of fifty four,
the German government said it had also gotten inferior lard
from another of his companies.
Speaker 3 (11:26):
Wow.
Speaker 2 (11:27):
Yeah, So the US government investigated this found the accusations true.
Tino had to pay damages. Again, He's like.
Speaker 3 (11:34):
What you don't like my lin he walks into the court.
Speaker 2 (11:37):
Judges like you again, right, So he had to diversify
at this point. Yeah, So in nineteen fifty five he
chartered Allied Crude Vegetable Oil and Refining Corporation. Okay, that
is such a fifties corporation.
Speaker 3 (11:49):
Made, yes, and a fifty like a fake win where
you're trying to like hide what you do, try to
sound like the other guys.
Speaker 2 (11:54):
Yes, this would be an exporter doing business with foreign
country trees through aid programs that were arranged by the
Commodity Credit Corporation of the US government. And so Tino
leaned way into this. He made Allied Crude like the
dominant player in soybean oil and in cottonseed features. Wow, okay,
(12:18):
so Allied seed oils, Allied crude they traded, and basically
vegetable oil. Yeah exactly, And he was like aggressive in
expanding his company's steak in these markets. So by the
end of the fifties he was responsible. Tino was responsible
for three quarters of all edible oil shipped to Europe
Tino alone.
Speaker 4 (12:38):
Damn.
Speaker 3 (12:39):
Yeah, he's like that guy's responsible for all the cheese
on frozen cheese pizzas me. That's crazy.
Speaker 2 (12:45):
Yeah. So he had figured out that there was this
fortune to be made from two government programs, farm price
supports and foreign aid. So there just so happened to
be a huge soybean surplus in the US at the time,
and his land was to buy up as many of
the beans as he could, process it all into soybean
oil and then ship the stuff overseas on government contracts.
(13:09):
Yeah I know, because there's the subsidies at home, and
he gets that, yeah exactly, and like he could pick
up some private contracts too. Soybean oil wasn't just for
human consumption. It was commonly called salad oil, but it
had industrial applications, like you could use it in paint
and stuff, so there was a high demand for.
Speaker 3 (13:28):
It, a replacement for lindseed oil.
Speaker 2 (13:30):
Yes, so Tino got to work. Between nineteen fifty eight
and nineteen sixty two he developed out this enormous salad
oil refinery in Bayonne, New Jersey. He leased one hundred
and thirty nine oil storage tanks for the place and
like massive tank Yeah refiners, some were like five stories tough.
(13:51):
He wasn't, of course, the only guy in the game.
There were other oily sorts who wanted in on this
cash cow, but Tino had plans for that too. He
paid way is high above his competitors, and his bids
to the government were always the very lowest. It's not
really a recipe for success in most cases.
Speaker 3 (14:08):
Most times it doesn't work.
Speaker 2 (14:09):
No, But by nineteen sixty two, Allied Crude was responsible
for three quarters of the US exports of soybean and
cotton seat oil.
Speaker 3 (14:17):
That's when he made his profits.
Speaker 2 (14:19):
Yes, do you know how much that is in volume?
Seventy five percent?
Speaker 3 (14:23):
I was about ask Elizabeth, how much is that in
say volume?
Speaker 2 (14:26):
Thank you? Three hundred and sixty one million pounds. It's
a lot of oil.
Speaker 3 (14:31):
That is a bunch of oil.
Speaker 2 (14:33):
You know what. I always like to say, Yeah, takes
money to make money.
Speaker 3 (14:37):
Oh, they're gonna say, are you going to wear those pants?
Speaker 2 (14:39):
I say that too, I say, well, when you're wearing pants.
So he was buying season, he's using money to make money.
So he's buying up bean.
Speaker 3 (14:49):
Cornered in the market.
Speaker 2 (14:50):
He's buying his workers, well, giving the US government sweet deals.
If he expanded enough, though, he could make that profitable.
Speaker 3 (14:58):
Yeah, of course, very profit.
Speaker 2 (15:00):
But he needed to finance this quick expansion, you know,
get that money in as fast as he could. So
he got these massive loans and he used the oil
as collateral. You can do that apparently. So on top
of all this, Allied Crude had a really strong relationship
with a strong company.
Speaker 3 (15:18):
By the way, I would love to go into a
bank and talk to a bank manager and go I'd
like to get a very large loan of money. They're like,
what do you have. I'm like, I've got these boatloads
of oils, you guys, seed oils possibly a collateral, Yeah, totally.
Speaker 2 (15:31):
Well, this is what let me tell you why they
signed on American Express. What so, Allied Crude had ties
with American Express that gave it a positive reputation, and
it wasn't because they ran around with AMEX cards, because see,
American Express had a warehousing division. In nineteen fifty eighteen,
oh went to American Express and asked about borrowing money
(15:54):
on his oil. He gave the old Razzle Dazzle, the
old Bobby Dazzler, and he did the hard sell on
his setup. According to him, he had the most modern
vegetable oil refinery ever built. This baby could take in
three million pounds of crude salad oil a day. That
yellow gold. So AMEX, they're all.
Speaker 3 (16:12):
About it, right, sweet sweet yellow.
Speaker 2 (16:14):
In nineteen forty four, they had introduced a new service.
They wanted to get bankers really pushing their travelers checks.
Do you remember when those were a thing? It was
like big for international travel, pre electronic credit or debit cards.
So each check was like for a pre printed fixed
round amount of like one of a bunch of different
major world currencies. So if you're going to France, you'd
(16:37):
get one for like one hundred francs each or whatever,
and it was more reliable than like a random check
from a random bank in another country. Yeah, and MX
is good for it, everyone knows so in exchange for
bankers pushing these checks on people, AMEX started offering supplemental
services that would be appealing to the finance set. They
started American express Warehousing Company. They would store, inspect, and
(17:02):
vouch for stuff like the oil that commodities dealers were
using as collateral for their bank loans. So, after all,
everyone knew, you know, AMEX is good for it.
Speaker 3 (17:11):
I totally don't understand high finance where you can bring
seed oil into this like, oh, yeah, that's great.
Speaker 2 (17:16):
Well, it's a it. You know, that's your it is
a commodity.
Speaker 3 (17:19):
I get it. It's a yeah.
Speaker 2 (17:20):
Well and you can see like.
Speaker 3 (17:21):
Frozen orange juice and pork bellies.
Speaker 2 (17:23):
Right right. So Tino he paid American express Warehousing twenty
thousand dollars a week for their services. Okay, part of
the services were inspections to attest to the amount of
oil in each tank.
Speaker 3 (17:35):
All right, go put like the dipstick in.
Speaker 2 (17:37):
Yeah, And that's what made the institutions cutting these loans
feel confident and Tino he was able to get more
loans based on his connection with AMEX. So he picked
up money from Bunch Limited, Daily Procter, and Gamble Bank
of America. In all, he had loans out with fifty
one different companies. Wow, yeah, everybody lends all aware of it.
(18:00):
The No, there was one problem, only one, one very big.
There was one very big problem. Tino didn't have all
that oil. Of course, he never did. He had the
paperwork for it, and he had the attestations that the
oil was in the tanks, but not the oil itself.
Oh oily, mother, Let's take a break. When we come back,
(18:24):
let's find that oil.
Speaker 5 (18:25):
Was Elizabeth So Tino and his oil it so American Express.
Speaker 2 (18:52):
They would send inspectors out to the tanks to check
on the stock of oil. Okay, I want you to
close your eye. Oh yes, and I want you to
picture it. You are eighteen years old. You're a young
guy in New Jersey. You've just got a job thanks
(19:12):
to your uncle Giuseppe.
Speaker 3 (19:14):
He knew a guy.
Speaker 2 (19:15):
He got your cousin a job there last year. It's
a good gig, easy, and that's how you find yourself
staring out across Kill Van Kull, a tidal strait that
separates you in Bayonne, New Jersey, with stat mile seagulls
reel and dive in the air overhead as a forklift
makes its way to a warehouse behind you, Your cousin
calls you over to a small manager's shed. It's dwarfed
(19:37):
by giant wide cylinders. They're easily one hundred feet tall.
Inside the shed, a radio plays a Dean Martin tune,
but your cousin is standing outside holding a clipboard. He
tells you that the two of you are going to
be helping some inspectors today. They want to know how
much of this salad oil is in the tanks. Sounds good,
he tells you. The two of you will have to
(19:58):
climb to the top of these things. You stare up
at the closest tank, marveling at the sky above it.
The Atlantic Ocean's wind, whipping up from the Caribbean along
the warm southern coast on its way up to Canada
and Greenland and then Northern Europe, reaches like fingers through
the various bays, inlets and kills, pushing wispy clouds high
(20:19):
in the sky over your head. The juxtaposition of the
heavy industry surrounding you, oil tanks, rumbling trucks, and vast
warehouses and distant brick factories, and then the gentle rolling
hills over the kill to Staten Island. The graceful seabirds,
the open sky, the warm sun on your face. It's overwhelming.
The cousin clears his throat, looks at you with a grimace.
(20:41):
Heads up, he tells you they're here. A truck pulls
up and two men step out. They're both a bit
older and carry a good bit of weight. They're wearing
blue work jumpsuits with American express warehousing stitched on a
stiff patch on their breastpockets. They walk stiffly your way.
They like your cousin, hold clipboards. Your cousin reaches into
(21:01):
the shed, tossing his clipboard onto a desk. Then he
grabs a giant weighted tape measure and approaches the men,
with Dino still crooning in the background. They all greet
each other. Your cousin introduces you. Then he says, you're
that Dean Martin singing. He's got nothing on my cousin. Here,
my cousin, he is the voice. One day we'll all
(21:21):
know about him. You blush and shuffle your feet. You're
known in your family and the neighborhood. Is quite the singer,
a real voice. Your cousin motions for you to follow him,
and you' all head out towards the nearest tank. At
the base of the tank, one of the men says
that climbing up there is young men's work. The other
man chuckles. Your cousin tells you that the two of
you will scale the ladder to the top of the tank.
(21:42):
He'll go to the very top in the middle, you'll
stay at the edge. He'll drop the tape measure in
and get a filled percentage. He'll then shout it to you,
and you'll in turn shout it down to the men.
The two of you will repeat this on five or
six other tanks. Then you can probably call it a day.
It's ten am. This is a good gig. You and
your cousin scale the metal ladder, running up the side
(22:03):
of the tank. He drops the measuring tape in. The
two of you weight in silence until you hear the
dull thud of the weight hitting the very bottom of
the tank. Your cousin shines a flashlight into the hole
and reads the tape ninety percent full. He yells, ninety
percent fall. You yell down to the men.
Speaker 3 (22:21):
One of them.
Speaker 2 (22:21):
Scribbles on his clipboard while the other gives you a
thumbs up. You and your cousin descend, and then repeat
the process a few more times. When you're done and
watching the men cutter away in their truck, your cousin
turns to you. You both stand in the shade of
one of those enormous tanks. Can I tell you something?
He asks? Sure? You tell him there's no oil in
those tanks. I thought you said there were ninety percent full.
(22:44):
You tell him that when the weight hit the bottom,
it certainly didn't sound empty.
Speaker 4 (22:48):
Nah.
Speaker 2 (22:48):
He tells you it's a racket. And the only reason
I'm telling you is at one of these days you're
going to have to do the measuring or the moving.
The moving. You ask, oh, you got a lot to learn,
He tells you, the moving, the moving. So, Saren, let
me tell you how this all wr was.
Speaker 3 (23:06):
Please.
Speaker 2 (23:07):
So the workers they're telling the inspectors that the tanks
are basically full, and they were with water, so they'd
put like a foot or so of oil on top
of that water in case someone wanted a sample a scoop. Yeah,
But a lot of the tanks didn't have anything in
them at all, and they were connected by this like
absolute maze of pipes, and if there was an inspection
(23:27):
scheduled for the week ahead, the workers would slip into
the facility on a Sunday afternoon because there was like
not a lot of security. They'd pump oil or like
oil and water from one tank to another, and from
one that had been like recently inspected to one that
was due for inspection. So that's how they move it.
This way. There's infinite oil in the tanks. And according
to the paperwork that's you know what it says, infinite
(23:50):
oil means infinite funding. So you could take out almost unlimited.
Speaker 3 (23:55):
Loans on this against the oil.
Speaker 2 (23:56):
It's endless collateral. Yeah, And so the lenders they weren't
checking with each other as to who's lending on what.
When it came to the tanks was yeah. And then
once Tino had loans out on three times as much
oil as the tanks could hold. So he was keeping
it all together though, right at least where that grift
was concerned. So in the early sixties, Tino had another company,
(24:20):
the Shortening Company of America Shortenings. Oh yeah, he cut
a lot of corners on that one. As told in
the Great Salad Oil Swindle quote, the shiny cans of
oil packed by Shortening Corporation with the words donated by
the people of the United States of America stamp proudly
on them, were to lead to one of Tino's more
(24:41):
memorable escapades. As the cans of oil arrived overseas, they
started springing leaks. Before long, warehouses from Brazil to India
were a wash in rancid salad oil. Yeah. So he
said that he was using heavy duty tins and he
charged them for that. But this is Tino. He was
(25:02):
using really cheap containers. They leak, they broke, really easily
falls out.
Speaker 4 (25:08):
Yeah.
Speaker 2 (25:09):
When it came to his salad oil scam, no one
could figure out how he was able to make the
money he was making by buying the soybeans at the
high prices he was and then selling the oil on
the cheap. So like rumors started to circulate. Some said
that Tino was running a mob front and he was
washing dirty vice money in salad oil.
Speaker 3 (25:28):
Sure.
Speaker 2 (25:29):
Now, while there was never any proof of this, I
will say that one of his co owners of a
Chicago refinery was Herman Topel, and Herman Topel had previously
been an owner of another fat rendering company called Twin Foods.
So back to the Great Salad Oil Swindle book quote,
this outfit had been put out of business by Chicago
(25:50):
police after they discovered that among the company's stockholders were
five mob figures who'd been identified by the Senate Rackets
Committee as members of the Cosa Nostra. The police said
at least five other Cosa Nostra hoodlums were employed by
Twin Foods, and they weren't spending their time rendering fat.
Twin Foods was a headquarters for quote, loan sharking, and
(26:11):
then the book says the lending of mob money at
usurist interest rates, arson plots, and the fencing of stolen goods.
The police suspected moreover, that the activities at Twin Foods
extended into murder.
Speaker 3 (26:23):
I was wondering, if he's like down with like crazy
Joe Banano in the Chicago outfit New York, New.
Speaker 2 (26:29):
Jersey, Right, so we have Herman Topel is the owner
of Twin Foods. Twin Foods gets shut down, Topel goes
to work with Tino. Of course, I mean, it's not
definitive proof, but come on.
Speaker 3 (26:40):
But it is kind of an indictment. It's damming with allegations.
Speaker 2 (26:44):
Association will say exactly, and you you are who you
associate with.
Speaker 3 (26:49):
That's what I'm saying.
Speaker 2 (26:50):
So meanwhile, people were starting to speak up. So in
nineteen sixty Donald Miller, CEO of American Express Warehousing, he
got a call from a tips to later referred to
as the voice.
Speaker 3 (27:03):
Woo, here's a callback it is.
Speaker 2 (27:06):
The voice said that he worked the night shift at
Allied in Bayone, New Jersey, late a seconds. Could you
wrap them out? The voice told Miller, quote, the biggest
hoax ever pulled is being pulled on American Express because
there is in fact water in the tanks, and we
are counting it as oil. Whenever we went to take
inventory at the tank, we would be dropping the weight
(27:27):
into this metal chamber which was filled with soybean oil,
but the balance of the tank had water in it.
So the voice told Miller that one of Allied's large
tanks had quote a metal chamber of some kind which
went from the top of the tank to the bottom
of the tank. It was under the hole where you
would normally drop a bomb, meaning the sampling device to
determine the quality of the contents of the tank. Whenever
(27:50):
we went to take inventory in that tank. He said,
we would be dropping the bomb down this metal chamber
which was filled with soybean oil. But the balance of
the tank had water in it.
Speaker 3 (28:00):
Like a column right the whole year check So you
can drop the weight all the way down through oil,
through oil. The rest of the tank is I love that.
I may never have turned pro as a singer, but
I definitely did sing.
Speaker 2 (28:11):
You did you did? You got a voice, sonya. So
Miller he had to act, and he had that quickly.
So he demanded a surprise inspection. When the inspectors got there,
they discovered that all the tank openings were welded shut
except except for the measuring hatch. And they so they
couldn't get oil in there if they tried. And then
(28:32):
when they could actually check five of the tanks, and
they were full of water, but not always full of water.
So in the twenty four foot tanks.
Speaker 3 (28:40):
Want to waste the water in twenty four foot.
Speaker 2 (28:42):
Tanks, they had between like one and eight feet of water.
I mean, there's bound to be some water in these tanks.
Six inches was the acceptable amount. They were running up
to eight feet and so the inspectors they came back
after the weekend because they went like on you know,
Friday or whatever. They come back at the end of
the and by that time there's nothing suspicious in the
(29:02):
other tanks. The final report said that all the water
was due to quote broken steam pipes, and then business
between Allied and American Express continued uninterrupted. Are you kidding No,
I'm not kidding you. Here. Here's the thing. When a
guy stopped working for Tino and Allied most of the time,
his new gig would be as an American Express field
(29:24):
warehousing custodians, and they held the keys to the crazy
mess of pipes that connected the tanks like that were
both above and below ground these pipes. When inspectors came
that particular week, the workers just shifted the oil that
was in the supply from tank to tank, keeping one
step ahead the whole time, and the inspectors were none
the wiser. So by the end of the inspection week,
(29:46):
the inspectors they sign off even with that explanation for
extra water. Oh, we had a pipe burst. The welded openings,
yeah that was you know, we figured that out. So everything.
So around this time, Tino he's buying heavily in the
oil's futures market. And you know that's not risky. No
futures markets.
Speaker 3 (30:07):
Oh, I'm making the space over here.
Speaker 2 (30:09):
In August of nineteen sixty one, the Spanish government ordered
two hundred and seventy five million pounds of soybean oil
from Allied.
Speaker 3 (30:18):
Huh.
Speaker 2 (30:18):
It was the biggest single order of Tino's career.
Speaker 3 (30:22):
Was there any reason for this?
Speaker 2 (30:24):
Well, I'll get to that. So this is wheth thirty
six and a half million dollars today. That's a three
hundred and ninety four million dollars deal. Whoa right? And
that's when the soybean oil futures market came in handy.
So Tino or put in a heavy order on that,
and he only had because he only had fifty million
(30:44):
pounds of oil in the American express field warehousing tanks.
There's no way he could fill the order with that,
so it made sense to buy the futures. He went
in big. But then something happened. Let's pause there, let's
order some soybeans, and when we come back, I will
be charitable and tell you what the bad thing is,
(31:23):
zaren saren. So we have Tino unable to fulfill the
Spanish order from his New Jersey tanks. So he buys
heavily in soybean futures. And then the Spanish government decided
it didn't want the soybean oil. After all, they had
not paid the contract. It was all still in talks.
(31:43):
So Tino he's positive he knew what happened. He's like,
I know why they backed out. I don't Opus Day.
Speaker 3 (31:51):
The churches.
Speaker 2 (31:53):
He was certain that Opus Day killed the deal because
it would have made him too powerful in Spain.
Speaker 3 (31:58):
It's like a small Catholic set to people oftentimes relate to,
like the nice templar and like the finances of the Vatican. Yeah,
he thinks they're running a coup on him from Spain.
Speaker 2 (32:07):
Well, they don't want him to be too powerful in
Spain exactly. I mean that was my first instinct.
Speaker 3 (32:12):
I would have it was my third right.
Speaker 2 (32:14):
I'm now I'm going to blame Opus Day secretly having
it out for me and not wanting me to succeed,
Like they're threatened by me. They're the source of any
bad reviews I get for this. Oh yeah, it's not
that I annoy people. It said Opus Day doesn't want
me to shine.
Speaker 3 (32:30):
Yeah, they are probably an agent of Opus day, trying
to bring you down exactly.
Speaker 2 (32:34):
I know it all now. So this whole thing started
a downward spiral for Tino Opus day one Tino zero.
He spent the next couple of years speculating on futures,
but those never panned out. He was forced to get
loans to pay back money that he was never going
to have. Yeah, it wasn't Opus Day, by the way,
it wasn't. No, are you surprised a little bit?
Speaker 6 (32:56):
No.
Speaker 2 (32:56):
See, there had been a forecast of a really like
super bad olive crop in Spain and thus very little
olive oil, which means they must have been desperate to
order salad oil because like they cook, everything's done with
olive oil. They're like, all right, well we'll take that garbage.
But then the olive oil crop was a boom. They
didn't need to import this crap oil. Olive oil is
(33:19):
so superior, by the way, I love it. So that's
why they backed out of the deal.
Speaker 3 (33:24):
So so Spain took the olive oil. That was like No.
Speaker 2 (33:28):
Spain was like, look, we're not going to get any
olive oil this year. It looks terrible for us. Let's
get let's put it in order. And then all of
a sudden, they're like no, no, no, we're going to have
like a we got and they're like, okay, cancel the order.
Thank god we didn't pay it in New Jersey.
Speaker 3 (33:42):
Yeah.
Speaker 2 (33:43):
Just we're so glad we haven't put any money into that.
And I'm so glad Opus Day told us to do it.
So Tino he's now he's got it. He's got to
make some money here. So he tried to cut deals
with India and Indonesia for food for peace.
Speaker 3 (33:59):
Get back to the US aid program, right, and that's.
Speaker 2 (34:01):
What he was, like, that sweet you know cash money
there those stumbled. Part of the problem was that the
US Agriculture Department switched the emphasis on edible oil donations
to forward relief agencies from vegetable oil to butter oil.
And I'm guessing that this is around the time they
needed to bolster the dairy industry in the States. Ah okay,
so they went from like bolstering soybeans to propping up dairy. Sure,
(34:26):
so Allied sold some vegetable oil to Turkey, but not
as much as the futures traders had expected. Yeah, prices dropped.
Tino lost money.
Speaker 3 (34:35):
He couldn't short himself like he couldn't buy like the.
Speaker 2 (34:38):
Yeah in nineteen sixty two, Tino, he's still a large
player in commodities market. Oh yeah, And that's why he
thought he could corner the soybean oil market completely big plans.
He wanted to answers, I should always go bigger.
Speaker 3 (34:55):
Of course. He wanted to use business I don't think right.
Speaker 2 (34:58):
No, he wanted to use all those commodity inventories that
he had loans on from Wall Street banks finance. He
was going to drive up the price of his vegetable
oil holdings and that would raise the value of the inventory,
bring in a profit from all these future contracts. And
he kept talking about, oh you know, in his mind
(35:19):
he was just on the brink of a ton of
major contracts like it was that he could it was
so close he could taste it.
Speaker 3 (35:25):
Rather turned here there.
Speaker 2 (35:27):
Oh yeah, it's just just a matter of just one
little thing. And if I can keep up his day
off my tail. But these were massive purchases, massive purchases,
and he needed big bucks behind them. And he got
those big bucks. He got loans from two big name,
old school, well respected Wall Street brokers, Ira Hopped and J. R.
(35:48):
Williston and bean. Okay, those sound fancy.
Speaker 3 (35:52):
Of course to someone like me on education, that sounds
like you must be rich.
Speaker 2 (35:58):
They also handled his few futures trading with commissions to
the tune of like one hundred thousand dollars a month.
So they're loving it.
Speaker 3 (36:05):
That's fluid.
Speaker 2 (36:06):
And for collateral they took those warehouse receipts for the
non existent oil. They then turned around and used that
paper to get loans from Chase, Manhattan and Continental Illinois banks,
all loans up and down everything. It's just a big paper,
you know.
Speaker 3 (36:21):
Just pushing paper around each other.
Speaker 2 (36:23):
House of cards. So, according to the New York Times,
in nineteen sixty three, Allied Quote held contracts to deliver
at a future date between eighteen thousand and twenty thousand
railroad tank cars of vegetable oil. Each contract is equal
to a single tank car containing sixty thousand pounds of oil.
It's a lot of oils are that is oily. So
(36:44):
by the end of August of nineteen sixty three, Tino
owned seventy nine percent of the cottonseed oil futures contracts
on the Produce Exchange and twenty percent of the soybean
oil contracts on the border trade. This is an insane amount.
Speaker 3 (37:00):
This is way more than cornering the market.
Speaker 2 (37:01):
Ye are are the market. And then there was strong
pressure on futures prices, so the agg Department was reducing
estimates on exports. Tino had to walk away from buying
futures for a while prices were in for a sharp drop.
He's gonna lose. Yeah, he's gonna lose everything plus some,
including his reputation and his pride. So, like an elder
(37:22):
bank robber, he figured he'd take one last score, one
final hit.
Speaker 3 (37:27):
Bro, You've been so lucky for so long.
Speaker 2 (37:29):
I figured if he kept on buying futures contracts, demand
for the oil would somehow just materialize.
Speaker 3 (37:35):
Oh, so he would basically trigger people to believe the
market was stronger than it will.
Speaker 2 (37:38):
Well, if you build it, they will come.
Speaker 3 (37:40):
Of course. Why didn't I think like that.
Speaker 2 (37:41):
In September of nineteen sixty three, the Soviets sunflower crop failed.
Oh this kicked off whispers that they'd be in the
market for US vegetable oil, and that jumped to the market.
In six weeks, soybean oil climbed from nine dollars twenty
per pound to ten dollars three. There's a huge spike
in six weeks.
Speaker 3 (38:02):
It's a huge one.
Speaker 2 (38:03):
And in those six weeks, American Express warehousing receipts for
soybean oil pledged for loans to Allied went from seven
hundred and fifty two million pounds to nine hundred and
thirty seven million pounds. That was the amount of all
the stalks of all the soybean oil in the country,
all the oil. Impossible. Yeah, it's he's he's saying he
(38:26):
has more than all the oil that exists.
Speaker 3 (38:28):
Who is he? Sam Altman?
Speaker 2 (38:30):
So eight hundred million pounds of that that he's claiming
doesn't even exist. So when you do the math on it,
Tino had taken the American Express for sixty million dollars. Yeah, Elizabeth,
that's six hundred and thirty three million dollars today.
Speaker 3 (38:44):
Are you kidding me?
Speaker 2 (38:45):
No, I'm not kidding you. American Express.
Speaker 3 (38:48):
I can't imagine American Express is gonna be cool with this, Like,
I'm surprised they haven't had this man murdered.
Speaker 2 (38:52):
Right, So would the Soviets be buying salad oil from
their sworn enemy?
Speaker 3 (38:58):
Imagine they'd be trading for it. They can't give you rubles,
you know what I mean? They're not going to buy
from the capitalists.
Speaker 2 (39:03):
Of course not. Yeah, that was rubbish. That was absolute rubbish.
And the Soviets they had to make a statement denying,
did you say. As a result, as a result, commodity
prices on soybean and cottonseed oil crater. According to Time
magazine quote, the commodities exchanges began pressuring Ira Hopped, by
(39:26):
far the biggest broker for DeAngelis, to put up another
fourteen point one million dollars in margin to cover Tino's
vast contracts. The hop brokers frantically called Tino for the money,
but Tino could not make it, so Hopped went bankrupt.
He bankrupted this huge Wall Street Yeah.
Speaker 3 (39:45):
I imagine had been a Wall Street brokerage for a very
long time. Generations possible.
Speaker 2 (39:49):
Yes, Allied Creued Vegetable oil refining company. They filed for
bankruptcy on November nineteenth, nineteen sixty three.
Speaker 3 (39:56):
This is like trading places. The plot line is trading
trices like all the Floyd Future and killing somebody on
the wall streets.
Speaker 2 (40:00):
The futures market crashed. Soybean oil closed at nine eighty
seven on Friday, November fifteenth, nine dollars on Monday, seven
to seventy five on Tuesday, it's just in free fall.
All of Tino's loan values were gone. The New York
Produce Exchange halted all trading on cottonseed oil. Dang dang,
(40:21):
so this like they filed for bankruptcyed November nineteen. Oka
of nineteen sixty three. President John F. Kennedy was assassinated
on Friday, November twenty second.
Speaker 3 (40:31):
Yeah, it was just a guess that. Just a couple
days later, Bigger Now shocked.
Speaker 2 (40:35):
The markets and they closed early, and they didn't open
until Tuesday, November twenty six. According to Business Insider quote,
the closure of the New York Stock Exchange gave the
exchange some breathing space to address the problems DeAngelis had created.
If the New York Stock Exchange didn't resolve this problem,
not only would the collapse discourage investment by small investors,
(40:57):
but the US Securities and Exchange Commission would interner, reducing
the New York Stock Exchange is power. The NYSE solved
the problem by imposing a twelve million dollar assessment on
exchange members and used the money to make Ira Hopton
company customers whole creditors were not as lucky. American Express
(41:18):
and other lenders lost millions. For the first time, the
New York Stock Exchange had assumed responsibility for a member
firm's failure. When the stock market reopened on Tuesday, it
quickly recovered and moved up for the rest of the year.
Speaker 3 (41:33):
Damn, So it's a stockholder all.
Speaker 2 (41:37):
The members, Yeah, exactly, taxed all the members in order
to save themselves. So with everything in shambles, the creditors
finally did a real investigation into the New Jersey tanks.
Like with Fresh Inspectors, anyone associated with Allied or American
Express not there, so we know that there weren't one
point eight billion pounds of salad oil up in there.
Speaker 3 (41:58):
How much was this.
Speaker 2 (42:00):
Nearly one hundred million pounds And as re laid in
the Great Salad Oil Swindle Quote Inspectors opened a big
faucet which was supposed to hold three million, five hundred
and seventy five thousand dollars worth of soybean oil and
salt water poured out for twelve days, The tanks, floating
(42:21):
roof sank and sank and sank, until finally the false
chamber welded into the underside of the roof, which held
a few hundred pounds of soybean oil came to rest
at the bottom of the tank. After finally checking all
the tanks which they could find, the inspectors had found
only one hundred and thirty four million pounds of stuff,
(42:41):
excluding salt water that looked like salad oil or animal fat.
The inspectors still could not firmly identify the contents, but
they estimated about half the contents was quote soap stock,
a residue of the salad oil refining process worth only
about two cents a pound. Checking the records of the
tanks allied least from the owner of the tank farm.
(43:04):
The inspectors also discovered that American express Warehousing listed tanks
on their books that in fact belonged to Petroleum Storage Company.
For example, the four tanks were where bunges one hundred
and sixty million pounds of soybean oil were supposed to
be stored had always been filled with gasoline.
Speaker 3 (43:23):
So when you're talking soap stock, you mean like basically
like the cheapest like lard, like so like fats that
could be used for like the yeah, you throw some
lyon there and you can make soap, but this is
like not supposed to be eaten.
Speaker 2 (43:36):
Or used industrial soap. Yeah, it's not primotagulio. Wow, sixteen
companies and two brokerage houses were forced into bankruptcy. How
many sixteen companies two brokerage houses, Zaron? Where was the money?
Speaker 3 (43:52):
I'm guessing the overseas Somewhere in Swiss bank accounty.
Speaker 2 (43:56):
About forty million went to soybean futures who cashed in
when prices dropped. Another sixty million went to pay for
the rapid expansion of the refining operation, covering operating losses
and like paying interest charges on loans. And then there
are the incalculable millions that went to friends, family, business associates.
(44:19):
Tino was drawing a salary of about one hundred thousand
a year, which is like a million in today's dollars
in But you know, he was known to spread his
money around so that all these millions, who knows probably
bank account.
Speaker 3 (44:33):
He really wasn't diverting a lot to like some weird
foundation he had or anything like that. He just gave
it to everyone he knew. And that because everyone knowed him,
favors and so forth right right.
Speaker 2 (44:43):
So in January of nineteen sixty four, the Justice Department
got an eighteen count indictment against him. They charged Dino
with transporting across state lines forty million dollars worth of
forged warehouse receipts for vegetable oil. He pleaded not guilty
to all counts, and he was looking at a ten
thousand dollars fine and ten years in jail on each
(45:04):
count eighteen counts. In nineteen sixty five, he turned around
and did plead guilty.
Speaker 3 (45:09):
He's like fifty at this point because he's born like nineteen.
Speaker 2 (45:12):
Fifteen, ninety fifteen, so he has fifty years old. He
winds up, Okay, you know what, I'm gonna plead guilty
to four federal counts of fraud and conspiracy. He got
ten years in prison, but not really because there's this
new section at the time of the Federal Criminal Code,
and it turned Tino over to the personal custody of
(45:32):
US Attorney General Nicholas Katzenbach. Really, and Tino would be
subject to FBI questioning about the details of everything he did,
and then the US Director of Prisons would report to
the judge and either affirm the sentence suggest a reduction
or recommend that Tino be put on probation immediately, so
(45:53):
by cooperating he could be free, like inside of three months.
Speaker 3 (45:57):
So they basically wanted him to flip on anyone who
worked with They're kind of hoping there was some rico mobs.
Speaker 2 (46:01):
Yeah, I mean, when you think about who his associates were,
that's what I'm guessing. I'm guessing it had something to
do with this thing of ours they wanted him to rat.
According to Time magazine quote, although he pleaded guilty, powerful
forces were working against me and on the Department of
Agriculture quote they called me a down there. So I
guess his FBI questioning didn't go so well.
Speaker 3 (46:24):
Doesn't sound like it.
Speaker 2 (46:25):
He got sentenced to twenty years. He served seven of
those and got out in nineteen seventy.
Speaker 3 (46:31):
Two seven on twenty uh huh.
Speaker 2 (46:32):
According to MSN quote. In nineteen eighty, Tino was back
in prison for a seven year sentence after being found
guilty of masterminding a scheme that cheated farmers and their
suppliers out of thirteen million dollars. In nineteen ninety three,
he scored another seven year prison sentence for using forged
bank letters to buy a million dollars in pork from
(46:53):
a Canadian company.
Speaker 3 (46:55):
Back in pork and all the way back to the beginning, all.
Speaker 2 (46:57):
The way and Tino, you know, ninety three.
Speaker 3 (47:00):
So he's like, oh, yeah, once you find you're good
at something, you gotta stick with it.
Speaker 2 (47:06):
Yeah. He really all he.
Speaker 3 (47:07):
Knows how to do is to cheat on major purchases.
Speaker 2 (47:10):
He passed away at the age of ninety three in
two thousand and nine. Wow, rip salad oil, swindler king, Dude.
Speaker 3 (47:19):
You expect all this from like, Hey, I want olive oil.
I'd love that it's in like cottonseed oil.
Speaker 2 (47:25):
So what's your ridiculous takeaway?
Speaker 3 (47:28):
I mean, like you always kind of guess when it
comes to these big contracts, like, oh, it's kind of shady,
it's hanky. There's people who are doing corruption, but like
this scale that he went for where he's controlling the
whole market, the arrogance, and he didn't think that he
would be found out. But there are so many people reliant.
Like when I made the joke earlier about Sam Altman,
(47:50):
it's because when you start hyping a market and everyone's
listening to you as the major player in the market.
There's gonna be a lot of people who are gonna
like question you. A lot of journalists are gonna be
looking for stuff, a lot of regulators. It's just you've
increase the amount he should have Like not that he
should have gone smaller, but you think it he would
be a little more savvy. And they kind of like,
I don't know, like have some of it be real?
(48:12):
You know, like yeah, like there's got to be it
can't be that. It's it's all just whatever sea water
and a little bit of oil on the top.
Speaker 2 (48:18):
You're right, there's too much of a chasm between what
was possible and what he was promising.
Speaker 3 (48:23):
There's like nothing you couldn't I understand. Like he made
the mistake with the futures and Opus day and all that,
but he was doing that for decades. Is like, bro,
come on, like quit while you're ahead at some point,
exactly what yours a particular takeaway?
Speaker 2 (48:37):
While you're ahead at some point.
Speaker 3 (48:38):
You take mine? What's yours?
Speaker 2 (48:39):
That's my took it? Wow, it's my takeaway now.
Speaker 3 (48:42):
Yeah, my grandma gave me that takeaway.
Speaker 2 (48:47):
I would like a talk back, I think, Oh.
Speaker 3 (48:53):
My god, I.
Speaker 6 (48:58):
Love Hi. Mandy from Canada. Here. Whenever Elizabeth mentions Regina
corn Tower, I'm reminded of driving across Canada with my
husband and stepson, and twenty odd years ago, we've made
it to Saskatchewan, stopped for gas and after paying, I
told my husband the clerk said it would be about
(49:19):
another two hours to get to Regina. At this moment,
my five year old stepson, said Mandy in a shocked voice.
I calmly told him, I said, Regina, not Vagina.
Speaker 2 (49:32):
Ha.
Speaker 4 (49:34):
I like that.
Speaker 3 (49:35):
The boy knew all the proper terminology, you know, teach
a kid physiology.
Speaker 2 (49:39):
That's right, the proper is amazing. Oh my goodness, that's
all Regina Regina Vagina. Uh. That's it for today. You
can find us online at Ridiculous Crime dot com. Now
we've been winning a lot of.
Speaker 3 (49:54):
Awards lately, nobody's getting nominated.
Speaker 2 (49:57):
But things have taken a turn for the worst. Oh no,
we were recently given detention in mister de Wolfe's science class,
and so it's iss in school suspension. OK, but art
we got we gotta, you know, turn this ship around, Saren,
you know, straight up and fly right.
Speaker 3 (50:17):
Was it for us or for the website and for
the just for the website.
Speaker 2 (50:20):
Goodness just for the website. We're also at Ridiculous Crime
on both Blue Sky and Instagram. We're on YouTube a
Ridiculous Crimes pod. Email us at Ridiculous Crime at gmail
dot com. Leave us a talk back on the iHeart
app reach out. Ridiculous Crime is hosted by Elizabeth Dutton
(50:44):
and Zaren Burnett, produced and edited by the Avocado Oil
King of Atlanta Dave Cousten, starring Annals Rutgers. Judith Research
is by One Thousand Island Kingpin Marissa Brown. The theme
song is by Ranch Magnet Thomas Lee and Green Goddess
Traffic Travis Dunn. Post wardrobe is provided by Botany five hundred.
(51:04):
Guest hair and makeup by Sparkleshot and mister Andre. Executive
producers are Ben Mayonnai's is a Legitimate Salad Dressing Bowlin
and Noel Heck Mayo is just Legit Full stop.
Speaker 4 (51:17):
Rounds Crime, Say It one More Times Crime.
Speaker 1 (51:29):
Ridiculous Crime is a production of iHeartRadio four more Podcasts.
My Heart Radio visit the iHeartRadio app, Apple Podcasts, or
wherever you listen to your favorite shows.
Hosts And Creators
Zaron Burnett
Elizabeth Dutton
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.