Elizabeth Bigley, aka Cassie Chadwick: The Heiress Who Defrauded the Rich

Elizabeth Bigley, a woman who would come to be known by many names, spent more than two decades swindling banks and wealthy investors across the Northeast and Midwest. She first caught attention in the 1890s when she served time in Ohio for forging checks. Bigley, who also went by aliases like Cassie L. Chadwick, led a life of deception that began with a stint as a clairvoyant before she embarked on an even bolder scheme.

After her release from prison, she resurfaced in Cleveland and married a wealthy widower, quickly spending his money on extravagant purchases like clothing, jewelry, and fine furniture. But living a lavish lifestyle wasn’t enough to satisfy her ambitions. In a daring move, she fabricated a story claiming to be the illegitimate daughter of steel magnate Andrew Carnegie, a rumor that opened doors to an increasing number of loans and cash advances from unsuspecting lenders.

Her fraud was eventually exposed when a bank owner grew suspicious. By late 1904, Chadwick failed to repay a $190,000 promissory note, and her network of lies unraveled. In early 1905, her highly publicized trial even attracted the attention of Carnegie himself, who attended to see the proceedings. Less than a year later, Chadwick died while serving her prison sentence.

Charles Ponzi: The Man Behind the Scheme That Bears His Name

Charles Ponzi, an Italian immigrant seeking a better life in Boston, became infamous for one of the most notorious financial schemes in history. In 1919, Ponzi founded the Securities Exchange Company, claiming that international reply coupons purchased overseas could be redeemed at a much higher value in the United States. Promising investors returns of 50 percent in just 45 days, Ponzi attracted around 20,000 investors who collectively contributed $10 million.

With his newfound wealth, Ponzi indulged in a lavish lifestyle, purchasing a mansion and hiring a limousine driver. However, his success came at the expense of the investors who had trusted him. Ponzi was using the money from new investors to pay returns to earlier ones, a classic sign of a financial pyramid scheme.

His downfall came when his extravagant displays of wealth caught the attention of journalists and federal investigators. In August 1920, Ponzi was arrested on 86 counts of mail fraud. He spent the next 14 years behind bars, eventually dying in poverty in Brazil. Despite his tragic end, Ponzi's name became permanently linked to fraudulent investment schemes, forever etching the term “Ponzi scheme” into the lexicon of financial deception.

Frank Abagnale Jr.: The Legendary Con Artist Who Became a Security Expert

Few stories of deception are as captivating as that of Frank Abagnale Jr. Beginning in the mid-1960s, Abagnale’s own account tells the tale of how, at just 16 years old, he became known as the "Skywayman," successfully hitching rides around the world while posing as a Pan Am pilot. In the process, he managed to cash in around $2.5 million in fraudulent checks. His schemes didn’t stop there, as he also claimed to have worked as a doctor, an assistant district attorney, and a college professor, all while maintaining his elaborate ruse until his capture in France in 1970.

After serving four years in prison, Abagnale made a remarkable transformation. He shared his unique insights at the FBI National Academy, authored a 1980 memoir titled Catch Me If You Can, which later became a 2002 film starring Leonardo DiCaprio and Tom Hanks. Additionally, he launched a successful career as a security consultant and public speaker.

However, according to Alan C. Logan’s 2020 book, The Greatest Hoax on Earth: Catching Truth, While We Can, Abagnale’s exploits may have been less grandiose than he claimed. Logan suggests that Abagnale’s true activities were on a much smaller scale, involving the theft of money from only a few families and businesses. In fact, Logan argues that Abagnale’s greatest deception might have been convincing the world that he carried out the high-profile heists he is famous for.

Lee Israel: The Literary Forger Who Became an Icon

Lee Israel initially gained success as a biographer, even making the New York Times bestseller list with her 1980 book on journalist Dorothy Kilgallen. However, Israel’s real talent lay in impersonating the iconic writers she admired. In the early 1990s, she spent about a year and a half forging hundreds of letters, mimicking the distinct styles of legendary figures such as Dorothy Parker, Ernest Hemingway, and Noël Coward. Using vintage typewriters specific to each writer, she carefully crafted the letters and sold them to memorabilia dealers.

When dealers eventually caught on to her forgeries, Israel began stealing authentic letters from private collections and replacing them with her own replicas. The FBI eventually shut down her operation in 1993, though Israel received a relatively mild sentence of six months under house arrest and five years of probation.

The scandal surrounding her forgeries ultimately led to a book deal. Her 2008 memoir, Can You Ever Forgive Me?, was adapted into a critically acclaimed movie starring Melissa McCarthy, which earned an Academy Award nomination.