American’s Scammers and Thieves With Mike and Samantha
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American’s Scammers and Thieves With Mike and Samantha
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About this listen
In 1817 Drew was a rogue cattle driver. Scammed cattle station Drew then became one of the best stock manipulators on the New York Stock Exchange. In 1867 Drew had a large block of stock in the Erie Railroad. He joined up with two clever con men Jay Gould and Jim Fisk. Gould was an expert at stock manipulation and Fisk was a crooked carpetbagger who was a notorious “robber baron” of that period. Their job was to convince Vanderbilt to buy as much stock of the Erie Rail railroad as possible so he could take over the company. The scam ended when someone at the New York Stock Exchange noticed the ink on some of the fake stock certificates were still wet. Gould managed to bribe the state legislature in order to make the extra stock certificates legal so they avoided jail. Gould also ended up compensating Vanderbilt for his losses. Drew got stung by Gould and Fisk. Right Gould and Fisk betrayed Drew because the price of Erie Stock kept rising causing Drew who shorted the stock to go broke. He died in 1879.
Source: Internet Archives FTC.gov
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