Yazoo land fraud

(1795–1814) Scheme to sell land in Georgia. After legislators were bribed to sell Georgia's western land claims around the Yazoo River to four land companies for $500,000, public anger forced a newly elected Georgia legislature to rescind the act (1796) and return the money. Much of the land had meanwhile been resold to third parties, who refused the money and maintained their claim to the property. The state ceded its claim to the U.S. in 1802. In 1810 the U.S. Supreme Court ruled that the 1796 rescinding law was an unconstitutional infringement on a contract. By 1814 the U.S. government assumed possession of the territory and awarded the claimants over $4 million.