Gregor McGregor: The scammer that sold bonds of a fictional country in the early 1800s

Bank note of the invented Bank of Poyais signed by McGregor as "cazique" or chief - Public Domain.
Bank note of the invented Bank of Poyais signed by McGregor as "cazique" or chief of the country - Public Domain. 

Scams are as old as humans, but this one is a good one from the early 1800s.

The scammer was Gregor McGregor, a colorful Scottish man that jumped from British soldier to General in the army of Bolivar during the Venezuelan Independence War. If this was not enough, he also attacked Amelia Island and "founded" the Republic of the Floridas under his command. 

On the scamming side, McGregor invented a colony in Central America called "Poyais" and went after the money of European investors and immigrants. 

Did he get investors and immigrants? Sure. Some folks bought bonds of the Bank of Poyais and a couple of hundred moved to the colony to find a wild jungle and half of them their death.

McGregor returned later to Venezuela. He died there and received an honorable funeral. Read the amazing story in this article.

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