The Great Salad Oil Swindle

Overview

In 1963, De Angelis was responsible for the Salad Oil scandal, a major financial racket involving fraudulent warehouse receipts, when he attempted to corner the soybean oil market. Soybean oil is an ingredient of salad dressing and has many other uses. In the aftermath of the scandal, 51 investors were swindled out of approximately $175 million ($1.4 billion in 2018 dollars).

Recognition

Miller was awarded the Pulitzer Prize in 1964 for his reporting of the De Angelis scam^[2][3] in the Wall Street Journal, on which the book is based.

References

Notes

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