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The prevailing theories tied Siegel's demise to the Flamingo Hotel project, which faced significant financial mismanagement. It was alleged that Siegel skimmed money from investors and failed to deliver on expectations for the casino's performance. Some accounts even suggest personal vengeance, claiming that Virginia Hill's brother could have been involved due to Siegel's treatment of his sister. However, many believe that the ultimate decision to eliminate Siegel stemmed from higher-ranking East Coast mobsters in New York.