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How a 19th-century aristocrat scammed the rich to buy fake Caribbean land

Nearly 200 years ago, Gregor MacGregor pulled off one of the most brazen real estate scams in history. A disgraced military leader, MacGregor sold plots of land in what is today Honduras, touting the country of Poyais as a new major region in South America. But no building was taking place, and instead of investing the proceeds of bond sales in construction, MacGregor was lining his pockets. Read the unbelievable story of MacGregor's exploits here.

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