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About: Home-Stake Production Company     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : owl:Thing, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Home-Stake Production Company was a company involved in a fraudulent oil and gas tax-shelter scheme. It was one of the largest Ponzi schemes uncovered in the 1970s with over $100 million lost. Its victims included a large number of prominent names in the entertainment, business and political worlds. Initial lawsuits by investors were filed against the company in 1973 and they was certified as a class action lawsuit in 1976. However, the litigation involving the company dragged on for decades. It was finally settled in 1996.