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Comment: 1933. Bankster was jailed for soiling 10 banks simultaneously!

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1933. Bankster was jailed for soiling 10 banks simultaneously!

1933. Bankster jailed for soiling 10 banks simultaneously! Required more cleaning than simply laundering. However, the bankster fit in one cell down at the pokey.

Time Magazine Business: Bankster Jailed Sept. 05, 1932

After ten weeks of stormy trial, Chicago's John Bain, 64-year-old founder of a chain of twelve small banks that failed at one crack last year (TIME, June 22, 1931), was last week convicted of conspiracy to defraud depositors. Scottish immigrant, onetime plumber, Bankster Bain had prospered in real estate, then branched into banking. Before the Depression, his Midas reputation spread widely among the clerks and laborers of Chicago's Southside districts. Unsound real estate promotions, wholesale juggling of assets among his various banks, whisked over his house of cards. When the banks crashed with...

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