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Using Brothel Earnings to Pay Off Mortgage
By
Jen Chung
Published Jun 15, 2006
Modified Mar 7, 2008
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By
Jen Chung
Published Jun 15, 2006
Modified Mar 7, 2008
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How do you know your brothel is making serious cash? When you can buy a floor of condos at the converted Plaza hotel. At least, that's what prosecutors claim Andrea Schwartz was going to do, as the NYPD's Vice Squad busted a Midtown prostitution ring yesterday. Brazilian-born Schwartz confessed to running the business out of her 100 West 58th Street condo, as well as selling coke to some of her customers. Schwartz and three other women were arrested, and Schwartz was denied bail because she had enough "cash to put together a $350 million deal with Italian investors" to buy residences at the Plaza. Hmm, that does sound like a flight risk.
When undercover cops went to her apartment, they were quoted $1500 for a threesome with two hookers and $700 for sex with one (Schwartz charged more for her services). The Daily News reports that she explained, "All the money I make in prostitution, I put in the bank, and I'm using the money to pay off the mortgage on my place." Well, real estate is a good investment, though the money might be illegal. And even though Schwartz would often bring back new "recruits" from Brazil, her doormen "figured they were probably family."
Schwartz's lawyer says his client is innocent on both prostitution and money laundering charges. The Post says that her clientele features an unnamed "prominent athlete" amongst other wealthy New Yorkers.
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Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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