The Giant Ponzi Scandal from the Oil Fields: The Home-Stake Scandal That Fooled Celebrities
The Home-Stake Production Company scheme was not just a regular oil scam; it was one of the largest Ponzi schemes of the 1970s, causing over US$100 million in losses. Victims included Hollywood stars, politicians, and business leaders who were deceived by painted water pipes presented as oil pipelines. Learn how attorney Robert S. Trippet built a fake empire that eventually collapsed and exposed weaknesses in the American tax system.
