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Poyaisian Bond signed by Gregor Mac Gregor - Fradulant £100 Bond - Great History

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Poyaisian Bond signed by Gregor Mac Gregor - Fradulant £100 Bond - Great History
Years: 1827
£100 Bond signed by Gregor Mac Gregor.

General Gregor MacGregor (24 December 1786 – 4 December 1845) was a Scottish soldier, adventurer, and confidence trickster who attempted from 1821 to 1837 to draw British and French investors and settlers to "Poyais", a fictional Central American territory that he claimed to rule as "Cazique". Hundreds invested their savings in supposed Poyaisian government bonds and land certificates, while about 250 emigrated to MacGregor's invented country in 1822–23 to find only an untouched jungle; more than half of them died. MacGregor's Poyais scheme has been called one of the most brazen confidence tricks in history.

From the Clan Gregor, MacGregor was an officer in the British Army from 1803 to 1810; he served in the Peninsular War. He joined the republican side in the Venezuelan War of Independence in 1812, quickly became a general and, over the next four years, operated against the Spanish on behalf of both Venezuela and its neighbour New Granada. His successes included a difficult month-long fighting retreat through northern Venezuela in 1816. He captured Amelia Island in 1817 under a mandate from revolutionary agents to conquer Florida from the Spanish, and there proclaimed a short-lived "Republic of the Floridas". He then oversaw two calamitous operations in New Granada during 1819 that each ended with his abandoning British volunteer troops under his command.

On his return to Britain in 1821, MacGregor claimed that King George Frederic Augustus of the Mosquito Coast in the Gulf of Honduras had created him Cazique of Poyais, which he described as a developed colony with a community of British settlers. When the British press reported on MacGregor's deception following the return of fewer than 50 survivors in late 1823, some of his victims leaped to his defence, insisting that the general had been let down by those whom he had put in charge of the emigration party. A French court tried MacGregor and three others for fraud in 1826 after he attempted a variation on the scheme there, but convicted only one of his associates. Acquitted, MacGregor attempted lesser Poyais schemes in London over the next decade. In 1838, he moved to Venezuela, where he was welcomed back as a hero. He died in Caracas in 1845, aged 58, and was buried with full military honours in Caracas Cathedral.

MacGregor was duly confirmed as a Venezuelan citizen and divisional general in the Venezuelan Army, with a pension of one-third of his salary. He settled in the capital and became a respected member of the local community. After his death at home in Caracas on 4 December 1845, he was buried with full military honours in Caracas Cathedral, with President Carlos Soublette, Cabinet ministers and the military chiefs of Venezuela marching behind his coffin. Obituaries in the Caracas press extolled General MacGregor's "heroic and triumphant retreat" to Barcelona in 1816 and described him as "a valiant champion of independence". "There was not a word about Amelia Island, Porto Bello or Rio de la Hacha, and there was no reference to the Cazique of Poyais," Sinclair concludes. The part of today's Honduras that was supposedly called Poyais remains undeveloped in the 21st century. Back in Scotland, at the MacGregor graveyard near Loch Katrine, the clan memorial stones make no mention of Gregor MacGregor or the country he invented.

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A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.

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