New Bedford fisherman’s arrest puts spotlight on industry’s quota questions

AR-160309730.jpg&MaxW=650When local fishing kingpin met last June with undercover agents posing as members of Russian organized crime, Rafael named an incredibly lofty price for his commercial fishing operation. $175 million. The price covered more than 40 boats and the Carlos Seafood business on New Bedford’s waterfront. It’s one of the largest groundfish and scallop operations in the country, and has been a fixture in the northeastern fishing industry for decades. But the agents were curious about the price, because Rafael showed them financial documents reporting annual income of just $3 million to $4 million from 2011 to 201. Read the rest here 07:39