Upstate New York May Be Home To Mobster’s $130 Million Hidden Treasure
The search for a mobster's $130 million hidden treasure continues in the Hudson Valley and Upstate New York.
Legendary mobster Dutch Schultz may have buried a fortune somewhere in Upstate New York.
Pine Plains Business Is Named After Dutch Schultz
In September 2020, Dutch's Spirits opened on Harvest Homestead Farm in Pine Plains, at the site of New York's original bootlegging distillery, according to Dutch's Spirits.
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"First 'organized' in 1932 during the twilight of Prohibition, our land was the site of an extensive bootlegging operation financed by the iconic mobster, Dutch Schultz. Now, almost 90 years later, Dutch’s Spirits is reviving the distillery foundations and revitalizing the property into a world-class distillery, tasting room, and event venue," Dutch's Spirits writes on Facebook.
On October 10, 1932, federal agents found a massive underground concrete bunker containing two 2,000-gallon stills, 10,000 pounds of sugar, and 1,000 gallons of Sugar Wash Moonshine at the Pine Plains farm, according to Dutch's Spirits.
A network of tunnels spread throughout the farm made it "one of the most extensive and elaborate layouts ever found."
Hidden Mobster's Treasure Likely Buried In Hudson Valley, Upstate New York
Some believe Shultz hid a box, waterproof safe, or suitcase that was full of gold coins, jewelry, paper money and bonds near Phoenicia in Ulster County.
The safe was buried at an undisclosed location in upstate New York, and it has remained there ever since, according to Reader's Digest.
"One of the world’s most perplexing hidden treasure mysteries is that of the gangster Dutch Schultz, who may or may not have hidden a fortune somewhere in the Catskill Mountains of New York. Schultz feared the law was catching up with him, as he was being investigated for tax evasion. He had a special waterproof and airtight safe built, and placed $7 million in cash and bonds into it—over $130 million in today’s money," Readers Digest reports.
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Shortly after he returned from Phoenicia, New York Schultz was killed in Newark, New Jersey in 1935.
John Conway who wrote the book "Dutch Schultz and his Lost Catskills' Treasure," believes the gangster's final words hinted at the location of the $130 million treasure.
"Don’t let Satan draw you too fast," Schultz told police, which was recorded by a police stenographer, according to Conway.
Conway believes Schultz was talking about his hidden treasure in Phoenicia because Ulster County town has many landmarks that reference the devil.
Treasure Could Be Buried In Yonkers Or Lake George
Other rumored burial spots include Yonkers, New York and Lake George, according to Conway.
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"No one knows for sure,” Conway told the Times Union. “There are so many versions of the legend and story. It’s one of the reasons why people become fascinated by it. They’re challenged to find the right version, and then challenged to find the treasure.”
Hidden Treasure Worth Thousands Found in New York Home
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