Is the legendary treasure of Dutch Schultz buried in upstate New York?
Dutch Schultz was an infamous crime boss in New York’s underworld. While on his deathbed in 1935, Schultz rambled incoherently about a $7 million dollar fortune he had buried in upstate New York. Today, Dutch Schultz’s treasure is said to be worth more than $50 million dollars.
It all started when Prohibition was passed in 1919. Gangsters like “Lucky” Luciano, Al Capone, and Dutch Schultz made millions illegally manufacturing and distributing bootleg liquor.
Dutch Schultz was something of a criminal prodigy. Born Arthur Flegenheimer, in 1902, he was already a force to be reckoned with by the time he was 25.
Jack French was a Special Agent for the FBI:
At the end of the roaring 1920s, Dutch Schultz’s criminal empire was making more than $20 million dollars a year. But like Al Capone before him, Schultz was highly vulnerable to the newly enacted federal income tax law. When he was indicted by a Grand Jury for income tax evasion, Schultz immediately took steps to protect his money.
Thomas Terry is an author of several books on buried treasure:
At a hideaway in Connecticut, Dutch and his henchmen, including “Lulu” Rosencrantz, and a man named Marty Krompier, rendezvoused. They packed bundles of thousand dollar bills, negotiable Liberty Bonds, gold coins, diamonds, and other gems into a steel plated strongbox. Dutch Schultz had the only key.
That night, Dutch and “Lulu” traveled to Phoenicia, New York, a town Dutch knew from his bootlegging days. Dutch swore “Lulu” to secrecy and then supposedly marked the site by carving an “X” into the trunk of a nearby tree. But “Lulu” couldn’t keep his mouth shut. He told his friend Marty Krompier where the treasure was buried. Some say “Lulu” even drew a map for Marty.
Rumors of the secret treasure filtered through New York. But Dutch had other problems. Manhattan D.A. Thomas E. Dewey was determined to further his political career by destroying Dutch Schultz and his illegal empire.
With the pressure building, Schultz finally surrendered to authorities in Albany, New York. His first trial ended with a hung jury. At his second trial, he was acquitted of all charges for “lack of evidence”. Some suspected jury tampering.
After the acquittal, Dutch Schultz moved his headquarters to a tavern he owned in Newark, New Jersey, called The Palace Chop House. Determined to regain control of his empire, Schultz went on a bloody killing spree. According to former FBI Special Agent Jack French, that angered the powerful New York Crime Syndicate:
The Syndicate took measures to turn down the heat. On the night of October 23, 1935, Schultz headed for the men’s room of The Palace Chop House. There he was met by two Syndicate hitmen, who proceeded to open fire on Dutch and his henchman.
Dutch Schultz died at 8:35 pm on October 24, 1935, almost 22 hours after he had been shot. He was just 33 years old. His bodyguard, “Lulu” Rosencrantz, had died hours earlier. That left only one man who knew where the treasure was buried … Marty Krompier. But according to Thomas Terry, Krompier never recovered Dutch’s treasure:
Perhaps Dutch Schultz’s treasure is still buried somewhere in upstate New York. If so, someone who finds a tree with an “X” carved in it just might hit the jackpot.