Ed Malley

Cole-Malley Embezzlement

In perhaps the largest and best-known political and financial scandal in Nevada history—State Treasurer Ed Malley and State Controller George Cole embezzled $516,322.16 from the state treasury in the 1920s. With the assistance of a cashier of the Carson Valley Bank, the two began to divert state funds for their own benefit in 1919. With this money, they invested in Tonopah mining stocks and Signal Hill Oil Company. The oil wells came up dry, so the money was lost.

Subscribe to Ed Malley