Kreuger, Ivar (ē`vär kr
`gər), 1880–1932, Swedish financier. After studying engineering in Stockholm and engaging in construction enterprises in the United States, he returned to Sweden and organized the firm of Kreuger and Toll. In 1913 he began to form a trust trust, in law, arrangement whereby property legally owned by one person is administered for the benefit of another. Three parties are ordinarily needed for the relation to arise: the settlor, who bequeaths or deeds the property for another's benefit; the trustee, in
..... Click the link for more information. to control all aspects of the production of matches in Sweden, and later throughout the world; it eventually became a huge international finance agency. Speculation and fraudulent practices during the 1920s wrecked the trust and led to Kreuger's suicide. Much of his money was obtained from U.S. backers.
`gər), 1880–1932, Swedish financier. After studying engineering in Stockholm and engaging in construction enterprises in the United States, he returned to Sweden and organized the firm of Kreuger and Toll. In 1913 he began to form a trust trust, in law, arrangement whereby property legally owned by one person is administered for the benefit of another. Three parties are ordinarily needed for the relation to arise: the settlor, who bequeaths or deeds the property for another's benefit; the trustee, in..... Click the link for more information. to control all aspects of the production of matches in Sweden, and later throughout the world; it eventually became a huge international finance agency. Speculation and fraudulent practices during the 1920s wrecked the trust and led to Kreuger's suicide. Much of his money was obtained from U.S. backers.
Bibliography
See studies by A. Churchill (1957) and R. Shaplen (1960).
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