The Oil Hustle

Pasquale De Marco

Summary

In the Roaring Twenties, when America was awash in optimism and excess, a tale of greed, deception, and unbridled ambition unfolded in the heart of Los Angeles. The Great Oil Hustle tells the story of Julian C. Julian, a charismatic entrepreneur who rose from humble beginnings to become one of the wealthiest men in the city, only to orchestrate one of the most notorious scandals of the era.

Julian's scheme, known as the Great Los Angeles Swindle, preyed upon the dreams and aspirations of ordinary people. Through a combination of shrewd marketing, dubious business practices, and outright fraud, he convinced thousands of investors to pour their hard-earned savings into his oil company, Julian Petroleum Corporation, promising them a share in the vast wealth he claimed to have discovered.

As Julian's wealth and influence grew, so did his arrogance and ambition. He expanded his business empire into other industries, including real estate and banking, and became deeply involved in politics, using his wealth to influence elections and curry favor with powerful figures.

But Julian's empire was built on a foundation of lies and deceit. His oil wells were dry, his stock prices were inflated, and his financial statements were riddled with fraud. It was only a matter of time before the whole scheme came crashing down.

In 1928, the bubble burst. The collapse of Julian Petroleum Corporation sent shockwaves through Los Angeles and beyond. Thousands of investors lost their life savings, and Julian himself was arrested and charged with fraud. The ensuing trial captivated the nation, exposing the depths of Julian's deception and the widespread corruption that had infected the oil industry.

The Great Oil Hustle is a cautionary tale of the dangers of greed and unchecked ambition, a reminder of the importance of ethical business practices, the need for investor protection, and the role of government in regulating the excesses of capitalism. It is a story that resonates today, in an era marked by financial instability and corporate scandals.

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Available since: 06/02/2025.

Print length: 162 pages.

Humanities & Social Sciences

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