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Home-Stake Swindle

THE HOME-STAKE Production Company was an oil-drilling tax shelter company based in Tulsa, Oklahoma. Its founder, Robert Trippet, was a well-educated Tulsa lawyer. Trippet's company began offering investments to the public in 1964. Home-Stake promised investors that their ventures were tax deductible. Investors were told to expect returns of at least three times the monetary value of their original investments. When Home-Stake did not deliver, lawsuits were filed against the company. Many of the plaintiffs were well-known Hollywood actors, actresses, and other television and entertainment industry personalities. The victims also included many top U.S. corporate executives.

An in-depth investigation by reporter David McClintick revealed that Home-Stake was a classic Ponzi scheme where money collected from late investors is used to pay off the early investors. ...

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