The Great Salad Oil Swindle
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The Great Salad Oil Swindle is a book by Wall Street Journal reporter Norman C. Miller about Tino De Angelis, a New Jersey–based wholesaler and commodities trader who dealt in vegetable oil futures contracts.<ref>Template:Cite web</ref> The book was published in 1965 by Coward McCann.
Overview
In 1963, De Angelis was responsible for the Salad Oil scandal, a major financial racket involving fraudulent warehouse receipts, when he attempted to corner the soybean oil market. Soybean oil is an ingredient of salad dressing and has many other uses. In the aftermath of the scandal, 51 investors were swindled out of approximately $175 million ($1.4 billion in 2018 dollars).
Recognition
Miller was awarded the Pulitzer Prize in 1964 for his reporting of the De Angelis scam<ref>Elizabeth A. Brennan and Elizabeth C. Clarage, Who's Who of Pulitzer Prize Winners, p. 366, Greenwood Press, 1999. Template:ISBN.</ref><ref>Kathleen M. Middleton, Bayonne Passages, p. 146, Arcadia Publishing, 1999. Template:ISBN.</ref> in the Wall Street Journal, on which the book is based.