The Fall of Albert Fall

November 17, 2015  •  Leave a Comment

Secretary of the Interior Albert Fall almost got away with selling the right to exploit federal government oil reserves to oil companies Sinclair and Pan American Petroleum. The deals seemed legit, and Fall's moves were within the letter of the law. But secrecy and lack of competitive bidding raised doubts, and Fall had gotten too rich too quick. During an inquiry, disappearing documents increased suspicions. Then investigators discovered a $100,000 no-interest "personal" loan to Fall from one of the oil men involved. That sent Fall to jail.

The oil fields went back to the government and some were sold, this time with competitive bids: Teapot Dome was the last, in 2015.

 


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