What was the oath taken to become a 'made man' in the Mafia?

The 'made man' oath involved a solemn ceremony where Michael's finger was cut for a blood oath. He held a burning picture of a saint while being told that if he betrayed the life or his 'brothers,' he would die and burn in hell like the saint. He described the experience as exhilarating at the time. (Timestamp: 3130)

What was Michael Franzese's role in the Mafia, 'racketeer' or 'gangster'?

Michael Franzese identified as primarily a 'racketeer,' focusing on generating money and elevating the family through business schemes like the gasoline tax fraud. He explained that a racketeer also needs to be capable of being a 'gangster' (able to handle violence) when called upon, but their main goal is financial gain. (Timestamp: 2478)

How did the gasoline tax scam operate?

Michael used 18 Panamanian shell companies to obtain wholesale licenses to collect gas tax from retailers. The government was slow to track collections. After 10-12 months, the shell company would disappear, and a new one would open. This allowed them to sell gas at a lower price to stations, increasing their volume and profits. (Timestamp: 2710)

What business lessons did Michael Franzese learn from the Mafia?

Franzese learned the 'art of negotiation' at 'sit-downs,' emphasizing the importance of understanding the other person's personality and having fallback positions. He also highlighted the technique of listening more than speaking to gather information, and the critical importance of respect and punctuality. (Timestamp: 2547)

How was Michael Franzese's family affected by his involvement in the Mafia?

Michael's mother spent 33 years without her husband, and their relationship became strained. His sister died of a drug overdose at 27, and his brother struggled with drug addiction for 25 years. His younger sister died at 40, having never been mentally stable, illustrating how the lifestyle devastated his entire family. (Timestamp: 3975)

What was the betrayal by Michael's father?

During a tense meeting where Michael was questioned about an article suggesting he wanted to start his own family, his father, who was present earlier, did not defend him. Instead, he claimed ignorance of Michael's activities, effectively throwing him 'under the bus' and potentially exposing him to danger. (Timestamp: 4314)

How did Michael Franzese get out of the Mafia life?

He decided to leave after meeting his future wife, realizing he didn't want to subject her to the dangers and legal risks of his life. A major catalyst was his father's betrayal, which made him question the loyalty within the life. He eventually took a plea deal to do time and strategically planned his exit. (Timestamp: 4068)

What was Michael Franzese's experience in solitary confinement?

He spent 29 months and seven days in solitary confinement. He describes it as incredibly rough, with many grown men breaking down. He coped by using a Sony Walkman for music, listening to sermons from Pastor Greg Laurie, and focusing on maintaining contact with his wife through phone calls and visits. (Timestamp: 5569)

How did Michael Franzese reconcile with his father after leaving the Mafia?

They didn't speak for about 10 years. After Michael was released from prison and his father was on parole, they met privately. His father initially expressed disappointment that Michael hadn't become a boss, but upon learning Michael had become Christian, they had a frank, open conversation and came to an agreement. (Timestamp: 6517)

What was Michael Franzese's 'aha moment' that changed his life?

After agreeing to marry his Christian wife, Michael had a private conversation with their wedding pastor, Dr. Myron Taylor. Michael opened up about his past, and the pastor's inspiring words filled him with hope that he could be forgiven and change the path of his life. (Timestamp: 7350)

What are Michael Franzese's key messages as a motivational speaker?

He offers messages of encouragement and hope, emphasizing that people are not always defined or defeated by their past and can make positive changes in their lives. He finds it rewarding to know his transformation inspires others who are struggling. (Timestamp: 7482)

Key Moments

Mafia Boss: I Was Making $1.4 Million A Day! - Michael Franzese

The Diary Of A CEO

People & Blogs3 min read129 min video

Aug 19, 2024|1,074,607 views|16,182|1,093

The Diary Of A CEO steven bartlett steve bartlett podcast the diary of a CEO podcast life lessons CEO mafia boss mafia michael franzese

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Key Moments

TL;DR

Former mob boss Michael Franzese details his $1.4M/day earnings, family life, and journey to redemption.

Key Insights

Michael Franzese earned an estimated $1.4 million daily at his peak in the Colombo crime family.

His father's wrongful conviction was a primary motivator for Franzese entering the mafia.

The mafia operates with a strict hierarchy: Boss, Underboss, Consigliere, Capos, Soldiers, and Associates.

Prohibition significantly fueled the mafia's growth and profitability by creating a demand for illegal alcohol.

Franzese describes the intense loyalty, strict rules, and severe consequences within mafia life, including 'sit-downs' for dispute resolution.

He details his transition from a Pre-med student to a racketeer, managing 18 companies and a fraudulent gas tax scheme.

Franzese emphasizes that his departure from the mafia was catalyzed by a profound betrayal from his father.

He highlights the destructive impact of mafia life on families, leading to addiction, death, and broken relationships.

Despite a deep betrayal and the inherent dangers, Franzese found redemption through faith and love, and now inspires others.

He shares business and negotiation principles learned from the mafia, such as punctuality, respect, and strategic communication.

EARLY LIFE AND MAFIA INDUCTION

Michael Franzese recounts a childhood marked by his father's high-profile mafia involvement, leading to constant surveillance and a hostile view of law enforcement. Initially a Pre-med student, his path drastically changed when his father received a 50-year sentence for a crime Franzese believes was a frame-up. Driven by a desire to help his father and a sense of family loyalty, he abandoned his studies to enter the mafia, a decision his father initially opposed but eventually accepted, posing a critical question about his willingness to kill.

MAFIA STRUCTURE AND BUSINESS PRACTICES

Franzese explains the hierarchical structure of a mafia family, from the Boss down to Associates, and details the historical context of the Colombo family. He elaborates on the mafia's historical rise, particularly fueled by Prohibition, and the subsequent creation of the Mafia Commission to manage family relations. He also describes 'sit-downs,' a structured method for resolving disputes with absolute finality, emphasizing the importance of respect and careful negotiation.

THE GAS TAX FRAUD SCHEME

At his financial peak, Franzese was involved in a massive gasoline tax fraud scheme, operating 18 shell companies. This complex operation allowed him to defraud the government out of millions weekly by collecting taxes and then dissolving the companies before they could be held accountable. This illicit enterprise generated an estimated $7-10 million per week, elevating him to captain and providing him with a lavish lifestyle, including jets and helicopters.

LEAVING THE LIFE AND THE FATHER'S BETRAYAL

A significant turning point came when Franzese's father, then a fellow captain, betrayed him in a meeting concerning money and a fabricated newspaper article. This betrayal, confirmed by a trusted friend, devastated Franzese and made him question the very foundation of his life and the loyalty within the mafia. This event, coupled with the desire not to involve his future wife in such a dangerous life, became a critical catalyst for his decision to leave.

IMPACT OF MAFIA LIFE AND PERSONAL TOLL

Franzese candidly discusses the destructive impact of the mafia on families, citing his own experiences with his mother's long widowhood, his siblings' struggles with addiction and mental instability, and the loss of his brother-in-law to violence. He also reflects on his personal journey, including prison time and solitary confinement, highlighting the psychological toll but also his resilience, prayer, and the unwavering support of his wife.

REDEMPTION AND LESSONS LEARNED

After leaving the mafia, Franzese found redemption through his faith and the support of his wife and a pastor. He now dedicates himself to speaking and mentoring, sharing profound lessons on business, negotiation, forgiveness, and the possibility of change. His message offers hope and inspiration, emphasizing that one's past does not define their future and that personal transformation is achievable, resonating deeply with audiences seeking guidance and understanding.

Mentioned in This Episode

●Products

●Software & Apps

●Companies

●Organizations

●Books

●Concepts

●People Referenced

Common Questions

Michael's father was sentenced to 50 years in prison when Michael was 19. Believing his father was framed, Michael felt a strong motivation to help overturn the conviction, which led him to abandon his premed studies and join the Mafia to earn money for legal fees and track down witnesses. His father initially disapproved but eventually gave his blessing. (Timestamp: 1415)

Topics

Mafia Michael Franzese Criminal Justice Business Principles Solitary Confinement Racketeering

Mentioned in this video

People

Roy DeMeo

A known serial killer who was part of the mafia. Franzese states DeMeo would have been a serial killer regardless of his mafia involvement, enjoying the violence.

Sonny Franzese

Michael Franzese's father, a high-ranking member of the Columbo family (captain and underboss), who was framed for bank robberies.

Meyer Lansky

A prominent Jewish-American organized crime figure and right-hand man to Lucky Luciano, who played a significant role in the Mafia's structure despite not being a 'made guy' due to his Jewish heritage.

Al Capone

A famous American gangster mentioned in the context of the early history of the Mafia in the United States, who originated from Brooklyn and went to Chicago.

Lucky Luciano

An Italian-American gangster who organized the Mafia commission in the 1940s, splitting the organization into families to prevent infighting and operate more like a business.

Joe Colombo

The boss of the Colombo family who took Michael Franzese under his wing. He was later assassinated and seriously wounded.

Greg Laurie

A pastor Michael Franzese listened to on a morning radio show while in prison. Laurie's words were uplifting and became a dear friend.

Dr. Myron Taylor

A pastor who married Michael Franzese and his wife. He had an inspiring conversation with Michael that planted seeds of hope for change and forgiveness.

Organizations

Long Island Press

A now out-of-circulation Long Island newspaper that published an article, containing false information, about Michael Franzese becoming powerful enough to start his own mafia family.

Columbia family

The mafia family Michael Franzese's father was part of, and later Michael himself joined. It was one of the five major mafia families in New York.

Genovese family

One of the five major mafia families in New York, mentioned as having about 250 'made guys' during Michael Franzese's era.

Q Motor Inn

The alleged location where Michael's father, Sunny Franzese, supposedly ordered bank robberies according to false testimony orchestrated by the FBI and witnesses.

Westwood Hills Christian Church

The church that rallied around Michael Franzese's wife and children while he was in prison, providing support.

Gambino family

One of the five major mafia families in New York, mentioned as having about 250 'made guys' during Michael Franzese's era.

Bonanno family

One of the five major mafia families in New York, mentioned as having a smaller number of 'made guys' compared to the Gambino and Genovese families.

The Gemini Club

A club owned by Roy DeMeo where gruesome murders and dismemberments were described by informants.

Products

Chevrolet dealership

Another legitimate and successful business Michael Franzese owned and operated, showcasing his business acumen outside of illicit activities.

Sony Walkman

A portable cassette player that Michael Franzese used in solitary confinement to listen to music and gain comfort, highlighting its soothing effect during a difficult time.

Mazda dealership

A legitimate business Michael Franzese owned and operated successfully, which he acquired despite being broke due to his reputation and connections.

Companies

HarperCollins

The publisher of Michael Franzese's business book, 'I'll Make You an Offer You Can't Refuse'.

General Electric Credit

A company from which Michael Franzese secured financing (floor planning) for his car dealerships by leveraging his reputation and the manager's fascination with his life.

Concepts

Prohibition

A period in US history (1920-1933) when the sale of alcohol was banned, which Michael Franzese credits with making the mafia strong by creating a lucrative illegal booze business.

Omertà

The Mafia's code of silence. Franzese clarifies it's an oath to stay silent, not to lie, steal, cheat, or kill, though these actions often occur within the life.

Books

I'll Make You an Offer You Can't Refuse

A business book written by Michael Franzese, published by HarperCollins, which the publisher referenced when discussing effective meeting strategies.

Mafia Democracy

Michael Franzese's book, which the interviewer describes as inspiring and fascinating, noting the foreword by Rudy Giuliani as a surprising detail.