Charles River Editors - Victor Lustig: The Life and Legacy of the 20th Century’s Most Notorious Con Artist

Nothing ventured, nothing gained. Old Czech Proverb

As dishonorable as it was, street hustling was if executed properly a potentially profitable trade, and it had become something of an art form by the 19 th century. Among the most popular tricks of the trade was the drop swindle, a crafty ruse most commonly employed in the United States and across the European continent. It relied on an unsuspecting man sauntering down the street, perhaps whistling a jaunty tune, when he spots a plump wallet tumbling to the ground from the corner of his eye. He stops in his tracks, dives into the flurry of moving feet, and attempts to fish out the wallet, but is deterred by another outstretched hand. Unbeknownst to him, the other Good Samaritan had laid the bait himself, and the wallet had been stuffed with a wad of invalid, counterfeit cash. Rather than deliberate over who had stumbled upon the wallet first and therefore had dibs, the dropper, who claims to be running late, suggests that the dupe keep the wallet and collect the reward money from the rightful owner later in return for a smaller sum of money, or some other valuable. On occasion, the patsy would fork over what they believe to be a fraction of the incoming reward money, and the Good Samaritan would disappear into the crowd. The patsy, unable to track down the owner of the wallet, will attempt to seek consolation in the cash inside the wallet, only to realize that the money is no good anywhere. It is only then that the fog is lifted, but by then, the swindler was long gone.

Across the street, a steadily swelling crowd of onlookers may have surrounded a circle of players in the midst of a round of Three Card Monte. The objective of the game is straightforward enough: the bettor must locate the red queen in the trio of cards shuffled by the dealer. Unfortunately for the bettor in question, the game is rigged, designed so as to ensure the house's victory. What's more, the dealer is not the sole manipulator - pulling the strings alongside him is a roper, responsible for reeling in victims, a lookout, tasked with sounding the alarm when a police officer is sighted, and one or two shills disguised as players themselves.

Even those familiar with the scam are at the mercy of these street swindlers. In the event that the player actually places a bet on the correct card, one of the shills makes certain to place an even higher bet on another card. The dealer then claims that only one bet may be placed a time, and when the shill refuses to withdraw their bet, the dealer is left with no choice but to restart the round. Shills may also choose to inadvertently slam into the table, or the remaining deck of cards, thereby nullifying the round. The lookout or the dealer themselves may also conveniently spot approaching police officers in the distance, causing bettors and onlookers alike to scatter in all directions at once.

Indeed, these aforementioned scams and other similar stunts were some of the most universally prevalent rackets back in the day. While these rackets, ethics aside, were moderately lucrative if executed properly, they were small-time, penny-ante hustles compared to those perpetrated by Victor Lustig, a supremely slick and incomparably cunning master of deception who is often touted as the greatest con artist of the early 20 th century.

Lustig was in many ways the antithesis of the stereotypical grifter. He took pride in his appearance and was always impeccably groomed, sporting the finest well-tailored suits, complete with his trademark Homburg hat, stylish walking cane, and dress shoes to match. At the same time, he gave wide berth to the fine line between fashionable and gaudy, making certain to never draw too much unnecessary attention to himself. Lustig was wildly charismatic and approachable, yet he was soft-spoken and selected his words carefully, which allowed him to appeal to and procure the trust of people from all walks of life.