American gangster of the 1920s and '30s who ran bootlegging and other rackets in New York City.

Born in the Bronx, Schultz took his alias from an old-time Bronx gangster and advanced from burglaries to bootlegging, ownership of breweries and speakeasies, and policy rackets in the Bronx and parts of Manhattan. His gang engaged in a number of bloody gang wars. In 1933 he was acquitted of a charge of income-tax fraud; but, in hiding out for months prior to the trial, he had lost much of his business to his New York rivals. From Newark, N.J., he tried to rebuild his New York rackets but became the target of New York special prosecutor Thomas E. Dewey (Dewey, Thomas E.). In October 1935 he broached the idea of assassinating Dewey, outlining a plot to Albert Anastasia and perhaps other mobsters. The New York crime bosses disliked the possible publicity, and on the evening of Oct. 23, 1935, Schultz and three of his bodyguards were bullet-riddled in a Newark restaurant by New York gunmen Charles Workman and Emmanuel “Mendy” Weiss.