|Nicknames:||"Adolph", "Otto Biederman", "Otto Berman", "Dutch Otto", "Abba Dabba", "Avisack"|
|Birthplace:||New York, New York, New York, United States|
|Death:||Died in Newark, Essex, New Jersey, United States|
|Cause of death:||Homicide by shooting|
|Occupation:||Accountant, salesman, race track handicapper|
|Managed by:||Erica Howton, (c)|
About Otto Berman (Biederman)
Otto Biederman, known as Otto "Abbadabba" Berman (1889? – October 23, 1935), was an accountant for American organized crime. He is known for coining the phrase "Nothing personal, it's just business."
Berman was born in a Jewish family in New York City. He was well known for his ability to figure complex mathematical equations and algebraic expressions in a matter of seconds, without the use of paper or pen. In the 1930s Berman became the accountant for, and advisor to, gangster Dutch Schultz.
Damon Runyon's best friend was mobster accountant Otto Berman, and he incorporated Berman into several of his stories under the alias "Regret, the horse player." When Berman was killed in a hit on Berman's boss, Dutch Schultz, Runyon quickly assumed the role of damage control for his deceased friend, correcting erroneous press releases, including one that stated Berman was one of Schultz's gunmen, to which Runyon replied,
- "Otto would have been as effective a bodyguard as a two-year-old."
He was the developer of a betting system that to this day has not been figured out, but he died with a net worth of $7,000. (3)
In the novel Billy Bathgate, Berman appears as the mentor to the main character.