Double, Double Oil and Trouble | The Salad Oil Scandal

Oil and water don’t mix, but oil and fraud seem to. Salad oil, that is. Caleb and Greg revisit a story that many may remember from their college accounting courses: the infamous salad oil scandal of the early 1960s.

Show Notes

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REFERENCES

• Wikipedia: Salad Oil Scandal: https://en.wikipedia.org/wiki/Salad_Oil_scandal
• Best Frauds in History: Tino De Angelis’ salad-oil scam: https://moneyweek.com/investments/investment-strategy/601677/great-frauds-in-history-tino-de-angelis-salad-oil-scandal
• How Salad Oil Amost Crashed the U.S. Economy: https://medium.com/@madmedic11671/how-salad-oil-almost-crashed-the-u-s-economy-c3ed3c2cb797
• The Vanishing Salad Oil: A $100 Million Mystery: https://www.nytimes.com/1964/01/06/archives/the-vanishing-salad-oil-a-100-million-mystery.html
• The Great Vegetable-Oil Mystery; Scandal, Now One Year Old, Remains a Financial Maze: https://www.nytimes.com/1964/11/15/archives/the-great-vegetableoil-mystery-scandal-now-one-year-old-remains-a.html
• Salad Oil Swindle! https://nymag.com/news/features/scandals/salad-oil-2012-4/
• Investopedia: Salad Oil Scandal: https://www.investopedia.com/terms/s/saladoilscandal.asp
• How The Salad Oil Swindle Of 1963 Nearly Crippled the NYSE: https://www.businessinsider.com/the-great-salad-oil-scandal-of-1963-2013-11
• TIME: The Man Who Fooled Everybody: https://web.archive.org/web/20071015042003/http://www.time.com/time/magazine/article/0,9171,898315,00.html 
• ACFE 2022 Report to the Nations: https://legacy.acfe.com/report-to-the-nations/2022/ 

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

EMAIL : [e-mail]

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Transcript available upon request 

Creators and Guests

Host

Caleb Newquist

Writer l Content at @GustoHQ | Co-host @ohmyfraud | Founding editor @going_concern | Former @CCDedu prof | @JeffSymphony board member | Trying to pay attention.

Host

Greg Kyte, CPA

Mega-pastor of @comedychurch and the de facto worlds greatest accounting cartoonist.

What is Oh My Fraud?

"Oh My Fraud" is a podcast where the true crime is shocking, gruesome, heinous, but with way fewer dead bodies.

Hosted by Caleb Newquist, each episode explores fraud cases from petty swindles to corporate conspiracies, examining the people involved, their motives, methods, and how they spent the loot before it all came to a spectacular, inevitable end.