Victor Lustig - Sold Eiffel Tower
The Story
Victor Lustig's most famous scam occurred in 1925 Paris when he read about the Eiffel Tower's expensive maintenance. Posing as a government official, he invited scrap metal dealers to a confidential meeting, explaining the government wanted to demolish the tower secretly.
Lustig took dealers on an official-looking tour. One dealer, André Poisson, was especially eager. Lustig sensed his insecurity and let slip that a minister's salary wasn't enough. Poisson offered a bribe along with payment. Lustig took both and fled.
Brilliant part? Poisson was too embarrassed to report it. Lustig returned a month later and tried the scam again on different dealers.
🚩 Red Flags
- Deal requiring complete secrecy
- Government official requesting bribes
- Pressure to act quickly
- Never checking if government owned asset
- Meeting in hotel instead of official office
⚖️ The Fallout
Lustig was eventually arrested for counterfeiting in 1935 and sentenced to 20 years. He was sent to Alcatraz where he died in 1947. During his career, he successfully conned thousands, including Al Capone.
📚 Lessons Learned
Lustig understood human psychology perfectly. He exploited greed, vanity, and desire for inside information. The embarrassment factor kept victims quiet, allowing scams to go unreported.
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