Jake Butcher
| Jake Butcher | |
|---|---|
| Born |
Jacob Franklin Butcher 1936 Union County, Tennessee, U.S. |
| Died | July 19, 2017 (aged 80–81) Atlanta, Georgia, U.S. |
| Nationality | American |
| Alma mater |
University of Tennessee Hiwassee College |
| Occupation | former banker and politician |
| Known for | convicted fraudster |
| Spouse(s) | Sonya Wilde |
| Children | 4 |
| Parent(s) | Cecil Hilque Butcher, Sr. |
Jacob Franklin Butcher (1936 – July 19, 2017) was an American banker and politician. He built a financial empire in East Tennessee, was the Democratic Party nominee for governor of Tennessee in 1978 and 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 massive fraud.
Butcher was born in Union County, 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.
Having worked at their father's bank during their youth, Butcher and his younger brother C.H. Butcher, Jr. began buying stock in numerous Tennessee banks starting in 1968. By 1974, the Butcher brothers owned or controlled eight banks, and Jake Butcher's United American Bank controlled 39% of the banking reserves in Knoxville, Tennessee. By 1982, UAB was responsible for over 50% of Knoxville's business loans and Butcher's personal net worth was declared to be about $34 million. In the late 1970s, United American Bank built its 27-story headquarters, the Plaza Tower, which remains Knoxville's tallest building. 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.
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, beating out former Nashville mayor Richard Fulton and newcomer Bob Clement. Butcher lost the general election later that year to Republican Lamar Alexander.
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