Poyais: MacGregor's Imaginary Nation

In the 1820s, Gregor MacGregor went beyond typical cons, inventing an imaginary Central American country called Poyais, complete with a flag, banknotes, and a nobility system. Capitalizing on Britain's economic boom, he raised almost $6 billion by offering bonds for the fictional land's development. He also convinced Scottish settlers to seek fortunes in Poyais. However, the reality was devastating, with starvation, disease, and suicides claiming two-thirds of the settlers. MacGregor's scheme failed, and he fled to Paris, attempting a similar trick before eventually escaping to Venezuela and avoiding returning to Europe.