Jake Butcher

Jacob Franklin Butcher (May 8, 1936 – July 19, 2017) was an American banker and politician. He built a financial empire in East Tennessee and was the Democratic Party nominee for governor of Tennessee in 1978. He was also 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.

Early life and banking career Butcher was born in the rural town of Maynardville, Tennessee. His father, Cecil H. Butcher Sr., was a general store manager and bank president in Union County. After attending the University of Tennessee and Hiwassee College, Jake Butcher served in the United States Marine Corps. In the early 1980s, C.H. Butcher's City and County Bank began building the Riverview Tower, which remains the city's second-tallest building.

Public life By the early 1970s, Jake Butcher became a topic of discussion in Tennessee political circles. In 1974, he sought the Democratic Party nomination for governor of Tennessee, but he lost to Ray Blanton in the primary. After a bitter contest, Butcher earned the nomination in 1978, defeating former Nashville mayor Richard Fulton and newcomer Bob Clement. Butcher lost the general election later that year to Republican Lamar Alexander. Bank records ultimately led investigators on a paper trail of illegal loans, forged documents, and various other forms of fraud.

The United American Bank collapsed on 14 February 1983. It was the fourth-largest bank failure in U.S. history up to that time. Later that year, it was learned that Butcher was also insolvent; his assets were listed at $11.9 million and his liabilities at $32.5 million.

Butcher pleaded guilty to federal charges of bank fraud in 1985 and was given a 20-year prison term. He was paroled in 1992, and resided in the Atlanta suburb of Canton. Butcher reportedly worked for a Toyota distributor and as a real estate developer. who also was sent to state prison for state securities fraud, was paroled in 1993 and died in 2002.

Personal life and death Butcher married the actress Sonya Wilde in 1962.

Butcher died on July 19, 2017, at the age of 81.