2006: Is Home Depot a Drug Smuggling Operation?

Not to pick on HD in particular, any corporation which imports furniture on a wholesale basis would be a prime conduit for drugs.   And if the revenue flows of the corporation are used to launder the profits, investors could remain at arms length while still getting a hefty profit via the prevailing price/earnings ratio, which in home depot’s case is currently around 25.    In other words, if $1M in cocaine profits are laundered in a profit stream of $100M/year and the PE ratio is 25, the stock price would increase by 25%.   And if you invest in call options  on the stock at the right time, your investment could skyrocket way beyond 25%.   See http://thirdworldtraveler.com/Drug_War/NarcoDollars_Dummies.html

Drug caches found in Home Depot vanities

(CNN) — Large quantities of drugs were found inside merchandise from at least two Home Depot stores in Massachusetts, and authorities are investigating, police said Wednesday.

A contractor late last week discovered two 50-pound “bricks” of marijuana wrapped in plastic bags inside a bathroom vanity he had purchased at a Home Depot store in Tewksbury, said Chief of Detectives Lt. Dennis Peterson.

The estimated street value of the marijuana is around $145,000, Peterson said.

Similar incidents have occurred in other parts of the state.

A plumber purchased a vanity in western Massachusetts on Monday in which he later found 3 kilograms of cocaine and around 40 pounds of marijuana, with a total estimated street value of $250,000, according to the Southwick Police Department.

Southwick Police Lt. David A. Ricardi said the item was purchased at “a local hardware store” but would not confirm it came from The Home Depot.

According to Peterson, a third individual discovered large quantities of illegal drugs inside Home Depot merchandise.

Peterson would not provide the details of that incident but said it was part of the overall investigation and that Tewksbury police were working with their Southwick counterparts and the federal Drug Enforcement Administration (DEA).

Tewksbury police and DEA officials conducted a search Tuesday of about 12 Home Depot stores statewide and found other bathroom vanities that contained drugs, Peterson said. He would not elaborate on how many drug caches were discovered in the search….

http://www.cnn.com/2006/US/06/14/home.depot.drugs/index.html?section=cnn_topstories

DEA probes as more cabinet drugs found

The U.S. Drug Enforcement Agency has taken charge of the investigation into approximately 50 pounds of marijuana found in a cabinet bought from Home Depot in Tewksbury after more drugs were found in a cabinet in Western Massachusetts.

Southwick Police Chief Mark Krynicki said a plumber in his town discovered about 3 kilograms of cocaine and 40 pounds of marijuana in a vanity he purchased from “a national hardware chain store” in Chicopee on Monday….

n a report on CNN yesterday, Tewksbury’s Peterson said Tewksbury police and DEA officials searched 12 Home Depot locations around the state on Tuesday and found other vanities that contained drugs, though he would not say how many or where they were found.

He reportedly told CNN all the cabinets originated from one warehouse in Massachusetts.

He could not be reached when called by a reporter from The Sun last night.

Billerica Detective Sgt. Roy Frost said his department is no longer part of the investigation.

“This is the DEA’s case now,” he said. “We’re totally out of it.”

http://www.lowellsun.com/front/ci_3941141

So W. Bush’s DEA took over the investigation.   Can you guess what happened next?   As far as I can tell, nothing.  The investigation itself vanished without a trace.   Hopefully you’re not surprised.  If they were lucky the local cops didn’t have fatal car accidents or commit suicide.

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