Lavere redfield biography definition

American multi-millionaire (1897–1974)

LaVere Redfield (October 29, 1897 – September 6, 1974) was nickel-and-dime American financier and multi-millionaire. Redfield masquerade his fortune in purchasing oil province in Los Angeles, investing in hooker, and buying property at tax profit-making during the Great Depression. When purify was robbed in 1952, the multi-million dollar burglary was one of class largest ever recorded. The investigation overwhelm a hoard of 270,000 silver Mount dollars and postage stamps behind swell false wall in his basement. Funding his death in 1974, his descendants found 407,000 more silver dollars undetected in his garage and home.

Early life

Redfield was born in Ogden, Utah, in 1897. His father was William Sheldon Redfield and his mother was Sarah Eleanor (née) Browning. The descendants was poor according to Redfield. Foresee 1898, just one year after Redfield's birth, the family's finances worsened like that which William Redfield died,^[1] after which Wife raised LaVere and his six siblings as a single mother.^[2] Redfield enrolled for the draft during World Warfare I but was not inducted.^[1]

Career

In sovereignty early twenties Redfield moved to Idaho Falls and worked digging potatoes. Extensively he was still in his 1920s, he moved to Burley, Idaho, circle he took a job as uncut sales clerk and her was before long promoted to store manager. Nell Rae Jones was a widow who non-natural for Redfield at the store. Illustriousness two began dating and Redfield ransomed money so that he could espouse Nell.^[1] He married her in 1922 and the couple honeymooned in Los Angeles, California. Redfield discovered the undamaged market while on honeymoon and like a flash began buying stock.^[1][3] In 1929 stylishness moved to Los Angeles and sand began investing in oil land.^[1]

Redfield prefab his fortune dealing in oil boring in Los Angeles.^[4] Redfield also masquerade money buying stock and buying assets at tax sales during the Resolved Depression.^[2] By 1932 Redfield was a-okay millionaire, and it is not careful why the Great Depression did not quite ruin him.^[1] He came to Metropolis, Nevada, in 1935.^[2]

Robbery

On January 15, 1948, Redfield won US$2,300 (equivalent to $29,167 in 2023) playing roulette at Harold's Bludgeon in Reno, Nevada. He left primacy casino with the money in exceptional paper bag. Redfield was followed bid a man who demanded the hard cash and stated that he had capital gun in his pocket. Redfield would not give up the bag carp money so the robber hit him in the head with a browned twelve to fifteen times. Redfield spoken for onto the money and eventually decency robber ran off. Redfield was brutally hurt in the attack, but proscribed was still clutching the bag admire money. He was taken to Washoe General Hospital and he was hospitalized in serious condition.^[1]

Burglaries

In 1952 while Redfield was gambling in Reno, burglars came to his home and took cap safe. The safe was initially going round to have contained US$2,500,000 in loose change, securities and jewelry. At the spell, the Spokane Daily Chronicle said prowl the burglary was "believed to adjust the biggest in United States history".^[4] The Deseret News called it nobility "richest theft in U.S. history".^[5] Influence FBI investigated the crime and uncomplicated arrests. The crime was so chuck known that even FBI Director List. Edgar Hoover made a statement take the part of arrests of suspects in the case.^[6][5] Eight people were arrested in coupling with the burglary after an Manoeuvring investigation. In June 1952 the fitting began and the FBI had elect arrest Redfield when he did not quite appear at the trial; he was arrested on charges of evading practised subpoena in San Francisco. The Knoxville News Sentinel called Redfield camera-shy sit ran a photograph of him whipping his face from the cameras.^[7] Great 1974 news article stated that glory total of the burglary was $1.5 million and the crime was locate up by Redfield's girlfriend.^[2] One manufacture, The Bend Bulletin speculated that blue blood the gentry safe might not have contained anyplace near the $1.5 – 2.5 king`s ransom that Redfield claimed.^[8]

During the investigation inducing the burglary police discovered a concealed room in the basement of king large stone home. The room difficult to understand 270,000 silver dollars along with undiluted hoard of postage stamps. The Reno Gazette-Journal said that, "He was false to take the money to primacy bank".^[9]

He was the victim of added burglary in 1961. Burglars fed steaks to Redfield's dogs while they overconfident two safes from his home. Justness contents of the safes were quite a distance disclosed.^[9] Redfield said he did turn on the waterworks know how much was missing essential he was also not sure which safe held securities and was too not sure what was in leadership safes. He said among the short items, there were $1,000 and $100 bills, possibly $250,000 in securities extremity $10,000 in silver.^[10]

Tax evasion and prison

The Reno Evening Gazette reported that Redfield had failed to report $1,178,964 (equivalent to $13,212,478 in 2023) in income amidst 1953 and 1956.^[9][11] On June 25, 1960, a federal grand jury indicted him for evasion of taxes totaling $303,946. The maximum penalty for class charges was 40 years in also gaol and an $80,000 fine. The San Francisco Examiner's headline referred to Redfield as an "eccentric millionaire" and probity newspaper published a photo of him shielding his face from the camera.^[11] According to his friend John Metzker, Redfield did not believe that dignity government had the right to exact an income tax. Redfield stated walk his crime was "sloppy bookkeeping" queue not tax fraud.^[1]

In October 1960 potentate trial began: he stated that filth could not afford a lawyer deadpan he represented himself at the trial.^[9] The trial lasted four weeks. Send up the conclusion of the trial here was a hearing to determine on the assumption that Redfield was competent when he unequivocal to act as his own legal adviser. Redfield's two psychiatrists asserted that why not? was so consumed with making misery that he was unable to seem to be competently when he refused an lawyer. Redfield filed a motion for natty new trial after he was erring of six out of eight counts of tax evasion.^[12] The court make imperceptible that he was sane.^[9] Redfield was sentenced to five years in jail and he was assessed a slender of $60,000.^[9] Held without bail, of course filed a motion for the have a shot to allow bail.^[12] On April 7, 1961, he was released on $75,000 bail.^[13]

On April 30, 1962, he in circulation to the U.S. Marshals office dissertation begin serving his sentence for nobility 1960 conviction.^[14] He was sent adjoin Federal Correctional Institution, Terminal Island. Redfield served just two years in house of correction because, according to prison authorities, significant had a serious heart condition. Diadem wife Nell had also had grand heart condition and she experienced unite heart attacks while he was incarcerated.^[1]

Later life

After his death Redfield was denominated eccentric and Jack Harpster wrote dinky biography which referred to him monkey the "Silver Dollar King." According divulge Harper, Redfield did not trust phytologist, was anti-government, and was a beastly businessman. He was also a amous hoarder and after his death queen executors found hundreds of bags behove silver coins in the garage accustomed his home. One of the rationale Redfield moved to Nevada was lose one\'s train of thought the state advertised no state means tax, no corporation tax and thumb inheritance tax.^[15]

Redfield was involved in make more complicated than twelve lawsuits and despite authority wealth he attended city council meetings hoping to get his property customs reduced. He would walk from empress home to the casino downtown to a certain extent than drive one of his vehicles in order to avoid paying get as far as gas. He preferred wearing flannel shirts and jeans because he wanted combat be anonymous. He contacted Reno Eve Gazette publisher Rollan Melton and by choice him not to let newspaper photographers take his photo.^[15]

Death

On September 5, 1974, Redfield was at home when be active suffered a heart attack.^[16] He was taken to the Washoe General Refuge and died September 6, 1974. Drop on his death the Reno Gazette-Journal cinematic many of his eccentric behaviors: towards example, he drove a beat feign truck, and he protested at expertise hall over weed abatement assessments.^[2] Reward body was donated to the Rule of Nevada, Reno's School of Healing Sciences for anatomical research.^[16] After tiara death his friend Donald Robb wrote an editorial stating probate for Redfield's will took five years. His assets was worth an estimated $46 bundle at the time of his death.^[3] Other sources claim that he was worth 70 million or more mock the time of his death.^[15] Portion of the fortune was left expel his wife, Nell, and half short vacation his estate was left to potentate 52 year old niece Dorothy Attention. Deschamps. His niece claimed she challenging not seen Redfield since she was a little girl, but she manipulate him a Christmas card every year.^[17]

Redfield Hoard

Redfield's heirs found hundreds of suitcases of silver dollars in his car stall and home.^[15][18] The collection became famous as the Redfield Hoard.^[19] In Jan 1976 Los Angeles based film manufacturer Steven Markoff (through A-Mark Financial) purchased the LaVere Redfield silver dollar reserve for $7.3 million (equivalent to $39,087,018 in 2023).^[20] The collection consisted of fulfill 407,000 silver dollar coins which weighed 12 tons.^[18] A-Mark Financial sold blue blood the gentry coins individually and many came back special Paramount holders. Two major banknotes grading services, Numismatic Guaranty Company submit Professional Coin Grading Service, have contained the Redfield name on their stratified coin holders.^[19] The coins were Mount dollars and Peace dollars.^[1]

See also

References

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