New York Mobster’s $100 Million Treasure Could Be Hidden in the Hudson Valley

People are coming from all over to search for a New York mobster's reported $100 million hidden treasure that's believed to be in the Hudson Valley.

Enter your number to get our free mobile app

In September 2020, Dutch's Spirits opened on Harvest Homestead Farm in Pine Plains, at the site of New York's original bootlegging distillery, according to Dutch's Spirits.

"First 'organized' in 1932 during the twilight of Prohibition, our land was the site of an extensive bootlegging operation financed by the iconic mobster, Dutch Schultz. Now, almost 90 years later, Dutch’s Spirits is reviving the distillery foundations and revitalizing the property into a world-class distillery, tasting room, and event venue," Dutch's Spirits writes on Facebook.

Dutch's Spirits in Dutchess County is named after notorious New York bootlegger Dutch Schultz. Legend has it Schultz ran the largest bootlegging operation ever found in Dutchess County at Harvest Homestead Farm in Pine Plains.

On October 10, 1932, federal agents found a massive underground concrete bunker containing two 2,000-gallon stills, 10,000 pounds of sugar, and 1,000 gallons of Sugar Wash Moonshine at the Pine Plains farm, according to Dutch's Spirits. A network of tunnels spread throughout the farm made it "one of the most extensive and elaborate layouts ever found."

The film "Billy Bathgate" was a movie made about Dutch Shultz. Dustin Hoffman plays Schultz in the 1990 film that also stars Nicole Kidman and Loren Dean.

For all the news that the Hudson Valley is sharing make sure to follow Hudson Valley Post on Facebook, download the Hudson Valley Post Mobile App and sign up for the Hudson Valley Post Newsletter.

Legend has it, shortly before Schultz was murdered, he hid a box, waterproof safe, or suitcase that was full of gold coins, jewelry, paper money and bonds near Phoenicia in Ulster County.

It's estimated the hidden treasure is worth $50 to $100 million, depending on how much gold and cash is hidden, the Times Union reports.

Schultz was fatally shot in Newark in 1935 shortly after he returned from Phoenicia in Ulster County. His dying words are believed to give clues about the location of his treasure, according to John Conway who wrote the book "Dutch Schultz and his Lost Catskills' Treasure."

"Don’t let Satan draw you too fast," Schultz told police, which was recorded by a police stenographer, according to Conway.

It's believed Schultz was talking about his hidden treasure in Phoenicia because the Ulster County town has many landmarks that reference the devil.

There are other rumored burial spots in Yonkers or Lake George, according to Conway.

"No one knows for sure,” Conway told the Times Union. “There are so many versions of the legend and story. It’s one of the reasons why people become fascinated by it. They’re challenged to find the right version, and then challenged to find the treasure.”