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Originally stems from the last name of a notorious slumlord/small business owner in the Fairmount section of Philadelphia. Said owner knowingly created shell corporations and willfully filed bankruptcy in order to swindle tenants and investors on a large and expansive scale. (1)The term has since evolved as a means to describe a situation in which one party knowingly misleads a second party with the intent of stealing. However, most recently (2)the term has also developed as its own expletive.
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