There’s Money in Rice!!! I initially thought this was a rumor and after some digging I found the facts. For those not in NYC there’s a small shop in SoHo that just sells flavored rice pudding. There’s not much to it, rice, sugar, milk and vanilla (or other flavors) and for 5+ dollars a small bowl it seems pricy. With the limited clientele and high dollar decor, I’ve always wondered (among others) on how this place stays in business.
Well earlier thihs month, Peter Moceo, the man that opened the Spring St. store Rice to Riches has been indicted for running a $22 million gambling ring. Moceo lives at Trump Tower and was arraigned in Long Island on the charges along with 19 co-defendants (including a concierge at Trump Tower) and “a father who allegedly had his 9-year-old son relay point spreads via cellphone,” – and Moceo’s 69 year-old father.
Suffolk Country D.A. Thomas Spota said it was “one of the largest gambling operations in Suffolk County,” and explained “we’re looking at enterprise corruption, money laundering and income tax violations.” One brilliant thing that Moceo and his cronies devised was “vig-free Fridays,” a day without interest for people placing bets!
Mr. Moceo declares that despite his arrest, the emporium will stay open. After all, pudding sales were averaging $15,000 to $18,000 a week, so it must be a lucrative business. Wow that’s over 400 bowls of rice a day!
Beyond the Pudding, a Mystery [NY Times]
Rice to Riches Conspiracy Theories [Curbed]