Phantom Gold
John Pemble: Victorian Capitalism, 7 January 2016
“... penury and disgrace. The overweening monarch of the midland and north-eastern networks, friend of Prince Albert and snapper-up of country houses, he devised the ruse later known as the Ponzi scheme – inflating the price of shares by boosting dividends with capital. The aggregate losses of the inevitable crash amounted to some £80 million. By 1854 only half ... ”