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Leo Koretz
Leo Koretz (1879-1925) was an American lawyer and stockbroker who ran an elaborate Ponzi scheme in Chicago, called the "Bayano oil fraud," which garnered an estimated $30 million (about $400 million today) from hundreds of investors in Chicago. The scheme used fraudulent claims of oil interests in Panama in a criminal career that predated his contemporary, Charles Ponzi. Koretz was so trusted and admired that after Ponzi's fraud was exposed in 1920, his investors nicknamed him "Our Ponzi," never suspecting they were being duped as well.〔(【引用サイトリンク】first=Dean ): ''The Incredible Story of a Master Swindler who Seduced a City and Captivated the Nation''. Algonquin Books of Chapel Hill and HarperCollins Canada: New York and Toronto, 2015. (ISBN 978-1-61620-175-3)〕
Koretz's swindling career began in 1905, when he forged and sold a series of mortgages on non-existent properties, using the proceeds to cover interest payments and finance an opulent lifestyle. He soon graduated to land speculation in Arkansas, flogging more fake mortgages and bogus stock in rice farms. In 1911 Koretz began selling stock in the Bayano River Syndicate, which he claimed controlled millions of acres of prime timberland in a remote region of Panama. His announcement of the "discovery" of oil on the property in 1921—and a promise of 60-percent annual returns—sparked a stock-buying frenzy and many investors begged Koretz for a chance to invest.〔(【引用サイトリンク】title=''Empire of Deception'' )〕 The scheme was exposed in 1923 when investors travelled to Panama to see the purported oil operations and discovered the fraud.
Koretz fled to New York City, and then to Nova Scotia, Canada, where he posed as Lou Keyte, a wealthy retiree and literary figure. He purchased and renovated a secluded lodge near present-day Kejimkujik National Park, in southwestern Nova Scotia, where he lavishly entertained a new circle of friends that included future Canadian author Thomas Raddall.〔(【引用サイトリンク】title=''Empire of Deception'' )〕 Koretz was identified and arrested in Halifax in 1924, extradited to Chicago and pleaded guilty. However, shortly after he was sent to the state prison in Joliet, Koretz died in an apparent suicide when he deliberately ate of a whole box of chocolate with the apparent intention of triggering a fatal shock with his acute diabetic condition.
==References==
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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