1. Jacob Franklin Butcher was an American banker and politician.
10 Facts About Jake Butcher
1. 2.
Jake Butcher built a financial empire in East Tennessee and was the Democratic Party nominee for governor of Tennessee in 1978.
3.
Jake Butcher was the primary promoter of the 1982 World's Fair in Knoxville, Tennessee, and lost his business and his personal fortune after he was found to have engaged in bank fraud.
4.
Rumors circulated that Jake Butcher would make another run for the governorship in 1982.
5.
Knoxville federal and state bank investigators had long suspected that Jake Butcher was engaged in unlawful banking practices.
6.
Jake Butcher, became insolvent during the rest of 1983, and an additional three banks in 1984.
7.
Later that year, it was learned that Jake Butcher was insolvent; his assets were listed at $11.9 million and his liabilities at $32.5 million.
8.
Jake Butcher was paroled in 1992, and resided in the Atlanta suburb of Canton, Georgia.
9.
Jake Butcher reportedly worked for a Toyota distributor and as a real estate developer.
10.
Jake Butcher's assets were auctioned off to satisfy his creditors.