One of the most successful con men of all time was the Scotsman Gregor MacGregor (1786-1845).
Among his most successful and notorious scams was to encourage investment in the fictional country of Poyais. Allegedly located near modern-day Honduras, Poyais was held out to be rich in natural resources but short on cash to develop them. MacGregor claimed that he was the cacique (prince) of Poyais, authorized to sell bonds on behalf of the government.
Over his lifetime, he scammed £1.3 million in the bond market (the equivalent of $5.6 billion in 2014 US currency).
Send This to 10 Friends: The Long, Weird History of Chain Letters
Chain letters have been around for more than a century. Explore their strange history, the “send-a-dollar” scam, why people believed them, and how they still survive online today.
The Great Hotel Heist: How Mickey Barreto Stole the New Yorker Hotel
Discover the wild story of how Mickey Barreto used legal loopholes to ‘steal’ the New Yorker Hotel, involving rent laws, fraud, and North Korea.
Poyais: The Imaginary Country and Audacious Scam of Gregor MacGregor
Discover the incredible story of the Poyais Swindle—how Gregor MacGregor convinced hundreds to invest in an imaginary kingdom, leaving them stranded in a jungle paradise that didn’t exist. Learn about one of history’s most bizarre con.
Leave a Reply