Ivan Kreuger

Ivan Kreuger (????-1932) was a Swedish businessman who through shady deals gained a match monopoly and became the "Match King".

Kreuger founded Kreuger & Toll, a match conglomerate.

He maintained control by hundreds of subsidiary shell companies in a deal that was essentially a huge pyramid scheme. He hid his manipulations by cooking the books and insisting that his finances remained unaudited. In his heyday, he controlled at least 75% of the world's match production.

In 1929 Kreuger loaned equal to $28 million to Romania. In return, he gained a monopoly in match sales. This debt remained unpaid to 2002.

Kreuger did not limit himself to mere matches but gained control of most of the forestry industry in the northern Sweden and planned to became a head of a cellulose cartel.

Securities of Kreuger & Toll were very wanted in the Wall Street. When the company went bankrupt in 1932, claimed assets worth of $250 million turned out to be nonexistent. Investors lots millions.

March 12 1932 Kreuger committed suicide by shooting himself. Later various rumors have claimed that he was actually murdered.