Great frauds in history: how Elizabeth Bigley, AKA “Madame DeVere”, spirited away cash

Serial fraudster Elizabeth Bigley AKA, the “psychic” Madame Lydia DeVere, conned people into believing she was the long lost daughter of fabulously wealthy industrialist Andrew Carnegie.

Elizabeth Bigley
(Image credit: © Alamy Stock Photo)

Elizabeth Bigley was born in Ontario, Canada in 1857. In 1879 she was arrested for forgery for passing off worthless cheques to merchants, but was acquitted on grounds of her age and insanity. She later worked in Cleveland, Ohio as a psychic, calling herself Madame Lydia DeVere. In 1889 she was again arrested and this time convicted of forgery and spent several years in prison before being pardoned by the then governor of Ohio (later President) William McKinley in 1893. By 1897 she was back in Cleveland, living under an assumed name, with her new husband Dr Leroy Chadwick. He married her believing her to be the illegitimate daughter of wealthy industrialist Andrew Carnegie.

What was the scam?

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri