Early Life
Victor Lustig was born in Hostinne, Austria-Hungary, but soon headed to the West. He was a glib and charming conman, fluent in multiple languages. He established himself by working scams on the ocean liners steaming between Paris and New York City.
One of Lustig's trademark cons involved a "money-printing machine". He would demonstrate the capability of the small box to clients, all the while lamenting that it took the device six hours to copy a $100 bill. The client, sensing huge profits, would buy the machines for a high price, usually over $30,000. Over the next twelve hours, the machine would produce two more $100 bills. After that, it produced only blank paper, as its supply of $100 bills became exhausted. By the time the clients realized that they had been scammed, Lustig was long gone. This type of scheme is also called the “money box” scheme.
Read more about this topic: Victor Lustig
Famous quotes containing the words early and/or life:
“He had long before indulged most unfavourable sentiments of our fellow-subjects in America. For, as early as 1769,... he had said of them, “Sir, they are a race of convicts, and ought to be thankful for any thing we allow them short of hanging.””
—Samuel Johnson (1709–1784)
“Young as she is, the stuff
Of her life is a great cargo, and some of it heavy:
I wish her a lucky passage.”
—Richard Wilbur (b. 1921)