Ulysses S. Grant Goes Bankrupt

In 1881, Grant purchased a house in New York City and placed almost all of his financial assets into an investment banking partnership with Ferdinand Ward, as suggested by Grant's son Buck (Ulysses, Jr.), who was having success on Wall Street.

In 1884 Ward swindled Grant (and other investors who had been encouraged by Grant), bankrupted the company, Grant & Ward, and fled.

Ulysses S. Grant (born Hiram Ulysses Grant) (April 27, 1822 – July 23, 1885) was general-in-chief of the Union Army from 1864 to 1869 during the American Civil War and the 18th President of the United States from 1869 to 1877.