Samuel Insull: Difference between revisions

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{{Short description|British American businessmanbusiness magnate (1859–1938)}}
{{Infobox person
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'''Samuel Insull''' (November 11, 1859 &ndash; July 16, 1938) was a British American business magnate. He was an [[innovator]] and [[investor]] based in [[Chicago]] who helped create an integrated [[Electric power transmission|electrical infrastructure]] in the [[United States]]. Insull created [[holding companies]] that purchased [[public utility|utilities]] and [[railroad]]s. Insull was responsible for the building of the [[Chicago Civic Opera House]] in 1929.<ref>United Press, Miami News, [https://news.google.com/newspapers?id=pgYtAAAAIBAJ&sjid=dtQFAAAAIBAJ&pg=1772,4915220&dq=samuel+insull+chicago+opera+house&hl=en Samuel Insull, Former Utility Magnate, Dies], July 17, 1938</ref>
Due to the [[Great Depression]], his vast Midwest holding company empire collapsed, and he was accused of profiting personally by selling worthless [[stock]] to unsuspecting investors who trusted him because of his position and reputation. Following a seven-week trial, he and 16 co-defendants were [[Acquittal|acquitted]] of all charges after two hours of jury deliberation.<ref>Schultz, Jeff. "[http://chestertontribune.com/Local%20History/522121%20historical_society_finds_samuel.htm Historical Society finds Samuel Insull Not Guilty of Securities Fraud]", ''Chesterton Tribune'', May 22, 2012.</ref><ref>[https://news.google.com/newspapers?id=kxVaAAAAIBAJ&sjid=s0sNAAAAIBAJ&pg=6219,709280&dq=samuel+insull+fraud&hl=en Samuel Insull Goes on Trial in Frauds Case], ''Portsmouth Times'', October 2, 1934.</ref><ref>[https://www.nytimes.com/1935/03/12/archives/insull-acquitted-on-embezzlement-charge-verdict-expected-to-end-all.html Insull Acquitted on Embezzlement Charge; Verdict Expected to End All State Cases], ''The New York Times'', March 12, 1935.</ref>{{sfnp|McDonald|1962|page=332}}