He began a redevelopment plan for the Borough of Saltsburg, Pennsylvania through Eastern Investment Development Corp. with brothers Murray and Burton Talenfeld, and their father Edward.
[1][2][3] Belle fled Pittsburgh on July 4, 1958, eventually winding up in Rio de Janeiro, Brazil, taking an estimated $1 million with him.
He was charged, along with his associate Mitchell Ostwind, in July 1958 on 17 counts of conspiracy and violation of Federal statutes on mail fraud and interstate transportation of stolen property.
Brothers Murray and Burton Talenfeld pled guilty in 1961 to 13 charges and no defense to 25 others, and were sentenced to a year in prison and a $20,000 fine.
Belle was charged with fraud in a Brazilian court involving passing worthless checks, and he voluntarily returned to the United States in December 1963.