1887 - 1971
Albert Oustric French Finance Professional
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Albert Oustric is a member of the following lists: 1887 births, 1971 deaths and French bankers.
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Details
| Birthday |
2nd September, 1887
|
| Birthplace |
Carcassonne, Aude, France
|
| Died |
16th April, 1971
|
| Place of Death |
Toulouse, France
|
| Zodiac Sign |
Virgo
|
| Nationality |
French
|
| Occupation Text |
Entrepreneur, banker
|
| Occupation |
Finance Professional
|
Albert Oustric (2 September 1887 – 16 April 1971) was a French entrepreneur and banker. He was the son of a cafe proprietor, and held various jobs before managing to raise capital for a hydro power generation company. He founded a small bank in 1919 and specialized in turning around enterprises that were in financial difficulty through debt consolidation and the sale of shares at inflated prices. He invested in a wide range of industries from mining to leather goods and retail banking. His group was bankrupted by the economic crisis that started in 1929, and many small depositors were ruined. Oustric was found guilty of fraud and embezzlement and spent several years in prison. A commission of inquiry found that several politicians had protected Oustric, including the Minister of Justice. The Senate tried and acquitted them.
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