Great Salad Oil Swindle
|Author||Norman C. Miller|
|Genre||Non-Fiction, Business, Economics|
|LC Class||HV6766.D4 M5|
The Great Salad Oil Swindle is a book by Wall Street Journal reporter Norman C. Miller about Tino De Angelis, a New Jersey-based wholesaler and commodities trader who bought and sold vegetable oil futures contracts. In 1962, De Angelis was responsible for a major financial scam, attempting to corner the market for soybean oil, which can be used in salad dressing. In the aftermath of the salad oil scandal, investors in 51 banks learned that he had swindled them out of about $175 million in total (approximately $1.2 billion in 2000 dollars). Miller won a Pulitzer Prize in 1964 for his reporting on the De Angelis story.
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