The Great Salad Oil Swindle: Tino De Angelis and the $175 Million Fraud
From Scam Nation · 8:13
Show by USRavens
In 1963, commodities trader Anthony De Angelis filled his oil tanks with water, floated a thin layer of soybean oil on top, and borrowed more than one hundred and seventy-five million dollars against the phantom inventory. Harper and Cole trace the warehouse receipts, the American Express connection, the two brokerages that went bankrupt, and the young Warren Buffett who saw a buying opportunity in the wreckage.
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