Description :

Tino De Angelis

Tino De Angelis is an American fraudster infamous for his 'Salad oil scandal' in the year 1963. Tino De Angelis, being a market management guy in his teens, searched for much bigger markets to control and selected vegetable oil market. In 1962, Angelis rented out many warehouses from American Express with the defrauding note of filling soya bean oil in it.

Angelis designed the warehouse with maze pipes and fooled the inspectors of the food inspection industry by showcasing them an oil quantity above than the total production of America by deception; this gave control to Angelis to manipulate the soya bean market but his shady scam is exposed when he indulged in bribinfclvg the inspectors in the year 1963. After the exposal of ‘Angelis's fraud’, the oil market crashed in 1963, Angelis was convicted for his fraud and was sentenced to eight years in prison. After his release, he still continued to manipulate the market and this time he started a livestock market on the Midwest by using two slaughter houses and fraud promissory notes. He later died in the year 2009.