"There is a valuable exchange taking place on the roof of the Cherry Popper Ice Cream Company. Kill everyone involved, steal the merchandise and take it to the helipad at the airport. There is a gate to your left that leads to the back of the factory."
Mr. Black and Leo Teal's names are most likely a refrence to the cult classic, Reservoir Dogs, due to their surnames being colors, as are the codenames of each of the robbers in the film.
Nothing is known about Mr. Black's life before the events of Grand Theft Auto: Vice City. At some point in his life, Black started a hitmen business and hired Leo Teal as a hitman.
The Vice City Police Department (VCPD) correctly believe that he runs a hitman business and have doubts over whether he is involved with money laundering.
Mr. Black employs Leo Teal, whom Tommy kills and he takes Teal's phone, allowing for random contact with Mr. Black. Despite his criminal activities, the VCPD have no information on him.
VCPD Crime Tree Record
Nothing is known about this man. We are eager to find out more. Possible connection to money laundering thought to be unlikely. Believed to be involved in running hitman business. No further info available.