High-School-Dropout Masterminds a $14 B White-Collar Scam. Bespectacled Fonso Gravenese was just six when he ran his first scam in 1915--winning quarters from his neighborhood buddies by rubbing olive on his yo-yo strings to make it spin faster.
From there, the scams got bigger, and his appetite unquenchable. By the time Fonso was 50, he had built a $500 million personal fortune by scamming federally-funded School...