Former Las Vegas Mob Experience exec files $20.7 million bankruptcy
13 June 2012
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A second former executive at the old Las Vegas Mob Experience attraction has filed for bankruptcy protection.
Louis Ventre listed $20.7 million in liabilities against $48,778 in assets in Tuesday’s Chapter 7 bankruptcy filing in Las Vegas.
Ventre for a few months last year managed the Experience after founder and former partner Jay Bloom left the business amid its financial troubles — troubles that culminated in it filing for bankruptcy reorganization in October.
The Experience at the Tropicana was dogged by disappointing visitor counts, unpaid bills, and fights pitting creditors and investors against each other.
The Experience was unrelated to the downtown Mob Museum that opened this year.
Many of Ventre’s liabilities relate to Mob Experience lawsuits and debts.
Antoinette Giancana, daughter of mobster Sam Giancana and a former Mob Experience consultant and artifact provider, is among his creditors. Another creditor is Vincent Spilotro, son of mobster Anthony Spilotro. Vincent Spilotro had also provided artifacts to the attraction.
Tuesday’s bankruptcy filing likely will at least temporarily block action against Ventre in pending Mob Experience lawsuits.
In one of the more bitter pending lawsuits, Bloom and Ventre have accused each other of causing the failure of the Experience by looting the company — charges denied by both of the former partners.
After the parent company of the Experience, Murder Inc., filed for bankruptcy, certain assets were purchased out of bankruptcy.
Ventre couldn’t immediately be reached for comment about the bankruptcy.
Spence Johnston, a spokesman for the Mob Attraction, said Ventre had recently left the Attraction under good terms. He had been serving as a consultant for the new owner following its transformation from the Experience into the Attraction.
In his court filing, Ventre reported earning about $75,000 in both 2010 and 2011 working for Murder Inc. and its parent company, Eagle Group Holdings LLC. He reported earning about $55,000 so far this year.
Ventre’s bankruptcy filing was preceded by a similar Chapter 7 filing in February by Michael Unger, a former Mob Experience official.
Bloom, Unger and Ventre had all faced a lawsuit claim filed by disgruntled Mob Experience investor James Beckman. Ventre in his bankruptcy listed a $1 million liability to Beckman; Unger in his filing said his liability in the case was $735,000.
That case and several others involving the Mob Experience continue to be litigated.
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