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4.7
106 reviewsThe fascinating, scandalous, and true story of Viola MacMillan and the Windfall mining scandal
Viola MacMillan had it all: success, money, and respect. Influence, even. But in 1964, after three decades in the mining industry, one of the most fascinating women in Canadian business history was the central character in one of the country's most famous stock scandals.
MacMillan, who started out as a prospector in the '30s, had developed lucrative mines and put together big deals. But she still wanted "a major discovery." Early in July 1964, shares in Windfall Oil and Mines, a company she and her husband controlled, traded for around 56 cents. Then one day, the stock took off. In the absence of any information from the company about what it had found near Timmins on its claims, rumors and greed pushed the share price to a high of $5.70. MacMillan stayed quiet. Finally, after three weeks, Windfall admitted it had nothing.
So many small investors lost money...
