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Ferdinand De Wilton Ward, Jr. (1851–1925), known first as the "Young Napoleon of Finance," [1] and subsequently as "the Best-Hated Man in the United States," was an American swindler.
- What Was The Scam?
- What Happened Next?
- Lessons For Investors
Ward quickly dominated the partnership, making all the decisions, and persuaded Grant Jr and his father to invest another $200,000 into the business. When this capital was squandered through bad investments, Ward simply altered the books to give the impression that the firm was making money. Greedy for cash to fuel an extravagant lifestyle, Ward th...
Fish’s Marine National Bank had heavily invested in Grant & Ward, financing this with a loan of $1.6m from New York City. By April 1884, the New York City comptroller decided to reduce the city’s deposits with the bank. Despite an emergency loan of $80,000 from the tycoon Cornelius Vanderbilt (underwritten by the former president), the bank collaps...
The creditors of the Marine National Bank were able to recover only half the $5.2m ($141m in today’s money) that the bank owed when it went bankrupt. Those who had invested with Grant & Ward recovered virtually nothing of the $14.5m ($393m) supposedly in their accounts when it collapsed (much of this sum represented fictitious profits that had been...
30 ago 2013 · Ferdinand Ward ran what came to be called, 40 years later, a ‘ Ponzi scheme ’, a swindle as old certainly as financial instruments and probably as greed. He promised investors improbable returns from unlikely investments, in Ward’s case government procurement contracts.
Ferdinand De Wilton Ward, Jr. (1851–1925), known first as the "Young Napoleon of Finance," and subsequently as "the Best-Hated Man in the United States," was an American swindler.
Now out of the obscurity that for a quarter of a century has surrounded him, comes Ferdinand Ward, the second central figure of the Grant & Ward crash, the one who was selected by the public as the object of reprisal, to tell the story for the first time of the intimacies that existed between himself and General Grant.
Geoffrey Ward is an American author and historian. His books include A Disposition to Be Rich (2012), a biography of his great-grandfather, Ferdinand De Wilton Ward, Jr., who was notorious for running a fraudulent investment firm from 1880 to 1884.
23 apr 2013 · Ferdinand Ward, the son of a Protestant missionary and small-town pastor, moved to New York at twenty-one and, in less than a decade, made himself the business partner of a former president and...
