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Philip Arnold
American confidence trickster
Philip Arnold (c. 1829–1878) was a confidence trickster[citation needed] from Elizabethtown, Kentucky, and the brains behind the legendary diamond hoax of 1872, which fooled people into investing in a phony diamond mining operation.
He managed to walk away from the hoax with more than half a million dollars.
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Biography
Arnold was a poorly educated hatter's apprentice when he enlisted to serve in the Mexican–American War. He then went to California as part of the Gold Rush of 1849. He apparently met with some success there, as he was able to return to his native Kentucky, buy a farm, marry, and start a family.[1]: 1–5
By 1870, he had returned to the West to take a job as a miner and prospector.
He and his cousin John Slack obtained some industrial-grade diamonds from their friend James B. Cooper, then an assistant bookkeeper for the Diamond Drill Company of San Francisco. They mixed the di