Secret mobster jewel stash of Frank Calabrese Sr to sell

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2015-06-26 10:48:05

Secret mobster jewel stash of Frank Calabrese Sr to sell

27 Jun 2012, 14:36 GMT+01

A hidden hoard of jewellery, gold and valuable items discovered in the home of ruthless Chicago mobster and hit man Frank Calabrese Sr are to be auctioned on July 10th-24th by Gaston & Sheehan.

An FBI raid on Calabrese’s house conducted in 2010 uncovered the stash of jewels, jewellery, guns and banknotes in a secret compartment built into the wall, hidden by a large family portrait. Calabrese is in prison for his involvement in a racketeering conspiracy involving 18 murders between 1970 and 1986.

Calabrese was convicted in the Family Secrets mob trial in 2009 for his part in thirteen of these murders. His conviction was a result of the famous Family Secrets Operation, considered by the FBI to be among the most successful investigations of organised crime ever conducted: ‘the case that crippled the Chicago mob’. They were aided in convicting Calabrese by the cooperation of his son, who wore a wire to record his father admitting to several murders, and his brother Nick Calabrese, who agreed to testify against him when faced with this evidence.

Calabrese will be behind bars for life, and was ordered to pay over $24 million to the government for fines and restitution. The sale of the hidden stash will go towards that payment.

Known for hoarding items, and accepting valuables in place of cash, Calabrese amassed over 250 lots worth of loose diamonds, gold necklaces, earrings, pendants, rings, luxury and vintage watches and other items, all of which are set to auction next month. One loose 8.64 carat diamond is opening for bids at $133,700. Two vintage 14k folding pocket knives are also offered, as well as gold pocket watches with Calabrese’s carved initials, and collectible gold coins. The whole is expected to fetch in excess of $500,000.

A sale of the old and rare currency bills found in the same cache was held by Gaston & Sheehan last August. It raised $245,860 towards paying off Calabrese’s fine.

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