Drug kingpin’s wife flips apartment for a 171,900 per cent profit

MANHATTAN prosecutors are moving to seize the ​hundreds of thousands of dollars a drug kingpin’s wife made from selling their Harlem apartment​ — which she bought from the city for just $US250​ ($330), court papers show.

Nicole Moultrie bought the apartment in 2004 for ​the nominal price as part of a city program that aimed to encourage homeownership for low​-​ and middle-income city families. She sold it for an estimated $US430,000 ($562,860), prosecutors alleged in court filings this week.

Prosecutors want that money seized as illegal profits from the drug-running business​, saying in court documents that by 2010, her husband, Lamont, had turned the building at 101 W. 115th St​. ​ into the hub of his drug empire.

101 W. 115th St. Picture: Tomas E. Gaston

101 W. 115th St. Picture: Tomas E. GastonSource:New York Post

The building reeked of ​drugs and chemicals, officials said. The vacant apartment next to theirs became a storage closet for PCP and supplies. Crack cocaine and 9mm bullets were found in the basement.

Police and prosecutors mounted a 15-month investigation into the ring, including wiretaps, and brought it down in 2012​, arresting Moultrie, her husband and her mother, Doris Smith, among the more than 30 people ​rounded up. Prosecutors allege the crew made $US1.5 million ($1.96 million) in profit​s from​ dealing drugs from January 2011 through January 2012.

Moultrie pleaded guilty to a litany of charges stemming from the arrest and was sentenced to four years in prison. She is currently out on parole.

 

[SOURCE :-news]