Whittaker Wright Scandal

Whittaker Wright Scandal

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Whittaker Wright was a London promoter. His London and Globe Finance Company underwrote the purchase of the Le Roi mine in the name of the British America Corporation in 1898.

Wright’s financial dealings were open to question and at one stage he was accused of over-evaluating the Le Roi stock.

In 1901, the London and Globe bubble burst and Wright’s financial house of cards collapsed. Wright’s affairs were investigated by the law courts and he fled the country. Rather than face the consequences of his wrongdoings, Wright committed suicide.

The Whittaker Wright scandal temporarily shook investor’s faith in Rossland mining stocks. Le Roi stock suffered as a result of this and never regained the prominence it had once enjoyed.

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