Description :

Jake Butcher

Jake Butcher started his career as an investor with his brother by buying the stocks of banks in Tennessee and almost acquired eight banks with his share being the largest. He was later suspected for fraudulent practices in the year 1982 by the various rumors spread around him after his failed political career.

He was then investigated by the federal bank associations in the year 1982 where they got the sniff of illegal loans, documents fraud and much more. He was convicted in the year 1985 for his fraudulent acts for which he pleaded guilty and was sentenced to twenty years in prison; and his assets were auctioned to compensate his creditors.