CHARLES ‘MONTE CARLO’ WELLS
1841-1922
FRAUDSTER AND GAMBLER
THE MAN WHO BROKE THE BANK AT MONTE CARLO IN 1891
Had to leave the London & Paris Hotel at Newhaven Harbour Station because of his riotous parties
Born in Broxbourne, Herts. Charles grew up in Marseille, became a shipyard engineer in 1860s. Invented a device to regulate the
speed of a ship’s propeller and moved to Paris where he sought investors in a fraudulent scheme to build a railway but fled with
the proceeds, convicted in his absence. Turning up in England he started several other investment frauds and pocketed the money.
In July and November 1891 Charles played the casino gaming tables in Monte Carlo. According to Flaneur in the Sporting Times
Charles devised systems for roulette and the card game ‘Trente et Quarante’ and over about a week he steadily won far more than
the day before. Winning £9000 one day, £12,000 the next, and £16,000 the day after that (between £1.7m and £2.7m in today’s
money?!*). If this was more than the table’s bank reserves at that point in the day a player was said to have ‘broken the bank’
while supplementary funds were brought. A black cloth was ceremonially placed over the table while play was paused.
Before long he was bankrupt and in 1893 spent 8 years in penal servitude for obtaining money by false pretences. He was released
in 1899 and published two books on his winning Monte Carlo ‘system’.
Charles had other dubious business affairs in France, including a huge investment fraud operation in 1910 (copied by Charles
Ponzi in the USA), and he must have been a regular guest at the London & Paris Hotel at Newhaven Harbour Station on the way.
It is said that he held so many riotous parties at the hotel that he was asked to seek alternative accommodation. He would rent the
house at 86 Fort Road in Newhaven instead.
He is said to have died penniless in 1922, he was 81.
NOTES/LINKS
* using This Is Money and the Bank of England’s inflation calcuator
https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator