OCR transcription — Page 130
Office Memorandum · UNITED STATES GOVERNMENT
TO: Director, FBI DATE: 5/29/58
FROM: SAC, Buffalo (92-61)
SUBJECT: STEVE MAGADDINO, was.
AR
Reurlet 5/13/58 entitled "TOP HOODLUM PROGRAM", in which letter there were enclosed photostatic copies of the U.S. Individual Income Tax Returns filed by subject and his wife for the years 1952-1956.
These income tax returns have been reviewed along with the subject's file in this office and investigation of the subject thus far has not disclosed any source of income other than his income from the Power City Distributing Company - subject being president of this company. The subject presently resides in a home appraised at $47,000, and a Niagara Falls, NY, bank holds a mortgage on this home in excess of $14,000 and the balance of the purchase price of the home was derived from the sale of the subject's former residence in Niagara Falls, NY. The subject drives a 1958 Cadillac and investigation disclosed that the ownership of this Cadillac is in the name of the Power City Distributing Company.
Information has been developed that the subject may have some connection with the numbers, policy, and gambling rackets in Buffalo and the surrounding area but no specific information has been developed to date indicating the subject has any income from these rackets.
Investigation of the subject is continuing and in the event any specific information is developed relative to any substantial income or expenses not listed on the subject's income tax returns, it will immediately be furnished to the Internal Revenue Service and the Bureau will be so advised.
2 - Bureau
1 - Buffalo
HRS:sjd
(3)
[Original includes FBI stamps, handwritten notes and filing numbers.]
Uncorrected machine OCR. Verify names, dates,
and quotations against the original FBI scan.