Criminalia

Those who considered themselves financially savvy in Chicago in the early 1920s wanted in on one investment: the Bayano River Syndicate. It was an exclusive investment, and centered around oil-rich lands in Panama. And a mild-mannered, balding, and bespectacled lawyer named Leo Koretz was the guy who held the key to investing in it. But Koretz wasn't who he seemed, and neither were his oil fields in Panama.

See omnystudio.com/listener for privacy information.

In this 2-for-1 inheritance scam special, Holly and Maria talk about William Cameron Morrow Smith and Oscar Hartzell, who, separately, bilked thousands of people out of millions of dollars, just by telling them they might be in line to receive a huge fortune. Spoiler alert on that: There was no fortune. 

See omnystudio.com/listener for privacy information.

There was something about Mary, but despite her claims, it wasn't an inheritance, prestigious titles, peerage, or any aristocratic honors. Mary Carelton became famous-for-being-famous when the paparazzi and media of her day caught wind of a scandal involving her. It wasn't about her penchant for pretending to be a princess -- as it turns out, it was for bigamy.

See omnystudio.com/listener for privacy information.

You can't talk about confidence artists and their games without talking about one of the classics: the shell game. It's been called a lot of things over the decades, and during the time and place we're going to visit in this episode, it was 'thimblerig'. It's often portrayed as a gambling game, but it's actually a con used to fleece unsuspecting bettors. Samuel Bennett was one of the best-known 'thimbleriggers' – perhaps ever, depending who you ask – and he made a fortune scamming passengers on steamboats along America's waterways in the 19th century.

See omnystudio.com/listener for privacy information.

In January of 1881, the Cincinnati Examiner described Charles Lewis Blood as a "very affable" man, but questioned his right to the title M.D. And the Boston Globe described him as having a, "national reputation for crooked work.” In fact, he did have career in crooked work. "Dr." Blood ran a long con peddling patent medicine he called, oxygenized air -- which was actually nitrous oxide. And it's not the only crime he was involved in during his confidence career.

See omnystudio.com/listener for privacy information.

Jefferson 'Soapy' Smith had a different sort of destiny than his siblings, who were doctors and lawyers. Soapy led a dishonest life that included bribery and graft, fraud, theft, and extortion. When he discovered that he could make more money with less effort by being clever, he changed his line of work to running confidence games on gullible westerners, from soaps scams Colorado to fleecing prospectors in Alaska.

See omnystudio.com/listener for privacy information.

During the 19th century it seemed like the American West held endless possibilities for great wealth, and Americans were looking for that next big thing. Two Kentucky swindlers, taking advantage of gemstone fever, lured some of the country's biggest bankers and businnessmen -- and the founder of Tiffany & Co. -- into a jewel con with claims of having discovered a large deposit of diamonds. The value of their diamond mine would have exceeded $86 million in today's money. If it had been real.

See omnystudio.com/listener for privacy information.

Calling herself a financial agent, Sarah Emily Howe introduced the women of the greater Boston area to the Ladies’ Deposit Company, which potentially sounds a lot better than what it really was: a swindle. The Ladies' Deposit was a savings bank that promised women a very high interest rate on deposits – so high, it seemed to impossible. It relied on referrals, and Sarah used the deposits she collected from those new customers to pay the large returns she'd promised to early customers. If that sounds like a Ponzi scheme to you, you're right -- but it happened about 40 years before Ponzi, himself, tried it.

See omnystudio.com/listener for privacy information.

Psst, buddy, want to buy some cheap gold? It may appear to be a gold bar on the surface, but in reality, what's for sale is something far less valuable. American Reed C. Waddell is credited with one of the most celebrated cons among cons – the goldbrick swindle. You'll never find a better deal!

See omnystudio.com/listener for privacy information.

Poyais: a magical place, and the picture of Caribbean paradise. And according to Scottish swindler Gregor MacGregor, it could all be yours … if you invested in his land, Poyais. In the early 19th century, MacGregor invented his own country, and then conned investors into buying the bonds of a country that did not exist.

See omnystudio.com/listener for privacy information.