The salad oil scandal, also referred to as the soybean scandal, was an American major corporate scandal in 1963 that caused over $180 million ($1.89billion today) in losses to corporations including American ExpressBank of America and Bank Leumi, as well as many international trading companies.

  • jtrek@startrek.website
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    7 days ago

    De Angelis was convicted of fraud and conspiracy charges in connection with the scandal and served seven years in prison, gaining his release in 1972

    Seven years seems light in comparison to other crimes. Unclear if he got to keep his wealth, too.

    • FundMECFS@piefed.zipOP
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      7 days ago

      White Collar Crime -> Couple years in country club federal camp

      Poor People Crime -> 20 to life in a zoo cage

      • aramis87@fedia.io
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        7 days ago

        A lawyer once said something to the effect of, “If the legislators can envision themselves or their family doing it, it gets a light sentence. If they can’t, it gets a harsh sentence.”