298:, Ward lived fairly comfortably through his connections, and was released after serving only six years. While he was imprisoned, his wife, Ella, willed her entire estate to the support, education, and maintenance of her son Clarence until he turned 25. Ella died in 1890, and the inheritance moved to Clarence, who moved in with Ella's family. This move deprived Ward of much of his wealth.
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While his fraud remained undetected, Ward found great success, gaining $ 9 million, a brownstone in New York, and a palatial 25-acre estate in
Connecticut. The Grants also gained wealth through the elaborate scheme, which gave Ward the nickname "The Young Napoleon of Wall Street".
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over and over again as collateral against loans and paid off older investors with money raised from newer ones, along with paying investors high interest on investments. Some investors, such as the Grants, kept most of their funds in the firm, receiving 2-3% profits per month.
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Clarence. In 1894, Ward married
Isabella Ward, née Storer, and soon afterwards faded into relative obscurity, although he occasionally commented on the collapse of Grant & Ward and Ulysses S. Grant. He died in 1925 at the age of 74, and his wife died one year later.
227:. Soon after his move, he stole money from a Sunday School and laundered it through a bank, substantially improving his situation. After marrying an heiress, Ella Champion Ward, née Green, in 1877, he was able to use her family's wealth for his advantage.
251:, as his brother was a roommate of Grant Jr. at Columbia University. Eventually, Ward gained the trust and investments of Grant, Jr., whose name he attached to his own firm, now called Grant & Ward. Ward ran the company as a
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A Disposition to Be Rich: How a Small-Town Pastor's Son Ruined an
American President, Brought on a Wall Street Crash, and Made Himself the Best-Hated Man in the United States
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However, the scheme eventually collapsed on May 4, 1884, bankrupting the Grants, The Marine
National Bank, Thomas Nast, and many other investors, and starting the
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188:(1851–1925), known first as the "Young Napoleon of Finance," and subsequently as "the Best-Hated Man in the United States," was an American
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After his release, Ward attempted to gain back his wealth to no avail, pursuing legal avenues but also orchestrating a failed attempt to
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Manuscripts and
Archives, New York Public Library. (Finding aid for research material collected by Geoffrey Ward while writing
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208:, as a partner in Ward's banking business. Heavy losses were incurred by many other members of the extended Grant family.
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391:"N.Y. Supreme Court, the Marine National Bank of New York against Ferdinand Ward, Ulysses S. Grant and Others V. 1"
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In 1880 he established his own banking and brokerage firm. One of the first investments in his firm came from
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542:"Read All About Geneseo's Dirty Rotten Scoundrel" in the Livingston County News, May 16, 2012
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Review of "A Disposition to Be Rich" in the New York Times Sunday Book Review, June 29. 2012
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caused the financial ruin of many people, including famous persons such as
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Geoffrey Ward collection on
Ferdinand Ward and the Ward family, 1825-2012.
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366:"Family guile: Historian discusses his criminal ancestor • Brooklyn Paper"
469:"CSSLibraryGuides: Ulysses S. Grant Information Center: His Tragic Death"
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Roberts, Russell. "The Wall Street
Scandal of Grant and Ward,”
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Ward's grandson, F. Champion Ward, was a vice president at the
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In 1873, Ward moved to New York City, and was a clerk at the
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417:"War and Peace of Mind for Ulysses S. Grant"
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500:(NY: WW Norton & Co., 1981), 490–493.
16:American Ponzi scheme swindler and conman
103:Orchestrating a large-scale Ponzi Scheme
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415:Magazine, Smithsonian; King, Gilbert.
364:McShane, Julianne (February 4, 2019).
344:"Son's Gems Claimed By Ferdinand Ward"
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245:Ulysses S. "Buck" Grant. Jr.
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65:1925 (aged 73–74)
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510:Ward, Geoffrey C. (2012),
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612:Pyramid and Ponzi schemes
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216:Ward was born in 1851 in
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551:A Disposition to Be Rich
319:A Disposition to be Rich
280:New York Supreme Court
192:. The collapse of his
370:www.brooklynpaper.com
284:rob Peter to pay Paul
273:William H. Vanderbilt
622:Inmates of Sing Sing
446:The American Scholar
421:Smithsonian Magazine
241:Marine National Bank
577:American financiers
496:McFeely, William.
239:, president of the
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498:Grant: A Biography
118:Ella Champion Ward
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505:Financial History
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452:January 18,
400:January 18,
375:January 18,
290:Later years
198:Thomas Nast
561:Categories
325:References
257:securities
212:Background
135:;
92:Occupation
442:"Con Man"
296:Sing Sing
190:swindler
176:Children
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40:Born
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
