New York Lawmakers Have Created An Organized $5 Billion Black Market For Shoplifters To Fence Stolen Goods
The crusade by New York lawmakers to go easy on “minor” crimes like shoplifting has proved to be a disaster. Shoplifting in New York City alone rising 64% since 2019.
Shoplifting and other retail theft already cost New York businesses an estimated $4.4 billion in 2022 alone. The yearly toll is likely over $5 billion now since the NYS legislature refuses to crack down on the problem.
Lawmakers’ mercy for minor shoplifting has turned into a multi-billion dollar black market fencing operation.
The scam is simple: Fagin-like ringleaders use drug addicts and petty thieves to rob the stores. Ringleaders even giving them a “shopping” list of desirable products. They then turn around and sell the stolen goods on Facebook Marketplace, Craigslist and eBay. They also sell the stolen goods on the streets or to bodegas to sell in their own storefronts.
Ringleaders also have warehouses full to the brim with stolen merchandise.
Thieves at every level pad their pockets. As a result, honest businesses and customers get screwed.
Stores Forced To Make Hard Decisions
No matter that the shoplifting boom has resulted in stores to locking up essentials. Thus, forcing costumers to wait endlessly to access toothpaste, deodorant or even baby formula.
But businesses have no choice: The alternative is shelves emptied by the crooks. Some businesses have even announced they are closing locations in New York City.
Last year, New York lawmakers refused to pass measures to beef up penalties for repeat offenders and those who assault retail workers.
However, New York Governor Kathy Hochul’s has a $40 million plan to crackdown on this sprawling underground economy.
The only question is, will the out-of-touch legislature support it?
Hochul has given up on the Legislature to fix the idiotic bail laws that created this mess.
Her initiative is only to penalize online platforms that allow the sale of stolen goods. The initiative also sets aside $25 million for a specialized shoplifting State Police unit.
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