Fred Smith, the founder of FedEx, faced a significant challenge when he was charged with using a forged document to secure a $2 million loan. If convicted, he risked a $5,000 fine and two years in prison. During the trial, his defense argued that Smith believed he had the authority to act on behalf of the Enterprise Company, emphasizing the absence of criminal intent. Witnesses, even those for the prosecution, expressed admiration for Smith and doubted the charges' validity. After a four-day trial and nine hours of deliberation, the jury returned a "Not Guilty" verdict, leading to a moment of relief and celebration for Smith.
Frederick Wallace Smith, born on August 11, 1944, faced the loss of his father at the tender age of four. His father, also named Fred, had established a formidable business empire, including the Greyhound Bus Line and the Toddle House restaurant chain, amassing a fortune over $17 million. Beyond his business ventures, which spanned cotton plantations to beef ranches, he was an avid sailor with a luxury yacht. Growing up, young Fred formed a close bond with his uncle, a Major General in the Tennessee National Guard, and even became the unit's unofficial mascot, complete with a .45-caliber pistol at age eight. His sister recalled Fred at fifteen as a charismatic and persuasive individual, capable of inspiring others to follow him with his vivid storytelling and leadership qualities. After his sisters moved out, Fred and his mother relocated to 1130 Audubon Drive in Memphis, Tennessee, coincidentally down the street from Elvis Presley's first home. Excelling in academics and sports at Memphis University School, Fred became Class President in his senior year and dated a cheerleader, embodying the All-American success story. At fifteen, Fred discovered a passion for aviation, which was further fueled by Colonel Fred Hook, a seasoned pilot with an impressive background, including flying with the Flying Tigers in China. Colonel Hook would later marry Fred's mother, Sally, after retiring from the Air Force and returning to Memphis.
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