Tuxpam Star Oil Corp Stock Certificate

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1918 Tuxpam Star Oil Corp - Oil Scandal - Signed

Tuxpam Star Oil Corp Stock Certificate - 1918

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Vintage Stock Certificate

Product Code: SC2102

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This Tuxpam Star Oil Corporation stock certificate was issued in 1918 and is hand-signed by the company president Louis Roumagnac. In 1920, Tuxpam Stark Oil officers and curb exchange brokers from James O'Brien & Company of 25 Broad Street were indicted by the Federal Grand Jury for using the mail to defraud investors. The Company, including its president Louis Roumagnac, were accused of selling over $20 million of worthless stock.

Tuxpam Star Oil lured investors by disseminating glowing financial reports. They claimed to have a well in Mexico producing 50,000 barrels per day and that they used those funds to acquire another well producing 100,000 barrels per day. They claimed assets of $134 million. They also claimed to have contracts with the Allied Governments during the war to supply oil. All these claims were False.

The judge set bail for Roumagnac at $35,000 and he fled to France.