Louis Colavecchio is an uncommon speculator. In terms of major victories, he is not well-known for his achievements. He was notorious for his skill with casino gaming machines.
When he was bitten by the gambling virus, he knew he couldn’t wager the way he desired, so instead of causing himself, his business, and his family a great deal of suffering by gambling away everything they owned, he had to find an alternative.
This is precisely what he did. He utilized his intelligence and business apparatus to become one of the world’s greatest counterfeiters of coins.
He will eternally be remembered as the man who outwitted the Atlantic City gambling machines.
Louis Colavecchio was born on January 1, 1942, and is the youngest child of Italian immigrants Benedict and Dora Colavecchio, who settled in Providence, Rhode Island. Louis has always aspired to be like his father.
His father came to the United States with nothing and made it his mission to become an entrepreneur. He was excellent with his hands and focused his talents on creating high quality instruments. Benedict’s business ultimately grew to the point where he was able to establish two sizable tool stores in the area.
Louis, the youngest of three children, desired to become an entrepreneur like his father. He attended college and became the first member of his family to earn a bachelor’s degree. In 1964, Louis earned a Bachelor of Business Administration from Providence College in Rhode Island.
Upon graduation, he determined that the jewelry industry was on the rise, so he decided to invest his time in that business. In Providence, he established a jewelry store called Trop Jewelry Co. It took Louis’s business ten years to generate a respectable profit.
After the business began to generate a profit, Louis’s fortunes improved dramatically. He was able to realize his goal of owning a large home in an upscale neighborhood. This high point in his life lasted only a few more years before Louis and his business were destroyed by calamity.
While Louis was working late one night, he was cruelly tormented by criminals who stole into the store. He was rendered incapacitated during the store robbery. He awoke in the hospital days later and was informed that everything had been destroyed. The police attempted to identify the culprit, but they were unable to recover the stolen goods, so Louis was compelled to declare bankruptcy.
Louis still desired to own his own store, so he established Diamonds in the Sky a few years later. This store was filled with high-quality gemstones, and Louis also installed a state-of-the-art security system.
This business was an anomaly in the area because, unlike most other businesses, it was not accessible during normal business hours. Instead, Louis had a sign on the door describing the business and stating that appointments were required.
Despite how strange this was, neither the store proprietor nor the community members would have guessed what Louis was actually doing.