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Ferdinand De Wilton Ward, Jr. (1851–1925), known first as the "Young Napoleon of Finance," [1] and subsequently as "the Best-Hated Man in the United States," was an American swindler. The collapse of his Ponzi scheme caused the financial ruin of many people, including famous persons such as Thomas Nast and the former U.S. President Ulysses S ...
Around 1880, Ferdinand Ward and Ulysses “Buck” Grant Jr., son of former president Ulysses S. Grant, joined to form Grant and Ward, a brokerage firm. [7] [8] Ward made a series of bad investments but altered the books to make it appear that the firm was still making money. [8]
In 1880, Ferdinand Ward entered into a brokerage partnership with James D. Fish, president of Marine National Bank, and former U.S. president Ulysses S. Grant. Grant, along with his sons, invested $200,000 of capital to the firm (Grant & Ward), and the financial operations were left entirely to Ward.
Geoffrey C. Ward Geoffrey Champion Ward (born 1940) is an American editor, author, historian and writer of scripts for American history documentaries for public television. He is the author or co-author of 19 books, including 10 companion books to the documentaries he has written.
Ferdinand Ward, financial swindler in the late 1800s; Dina Wein Reis pled guilty to conspiracy to commit wire fraud in May 2011, having duped corporations out of tens of millions of dollars. [60] Richard Whitney, stole from the New York Stock Exchange Gratuity Fund in the 1930s; Whitaker Wright, company promoter, convicted of fraud.
At the same time, Grant's son Ulysses Jr. ("Buck") had opened a Wall Street brokerage house with Ferdinand Ward. Ward was regarded as a rising star, and the firm, Grant & Ward, was initially successful. [28] In 1883, Grant joined the firm and invested $100,000 of his own money. [29]
Ferdinand Ward, known as the Napoleon of Wall Street, had, unknowingly to both Grant and Vanderbilt, operated the company as a Ponzi scheme that resulted in financial ruin for many. The other associate, Grant's son Buck Grant, apparently was unaware of Ward's Ponzi scheme swindle. Ward was later prosecuted.
He was nearly 60 and he looked for something to engage his time and replenish his finances. In 1878, he moved to New York City and entered into business with his son Buck (Ulysses S. Grant, Jr.) and Ferdinand Ward. Ward was a young investor and personal friend of the junior Grant.