We will never know, but we do know that De Angelis’ behavior at that point becomes increasingly strange if not tragic. He began to buy futures contracts, “not on orders he had for Allied, but supposedly on contracts he might be going to get.”31 Since the “Spanish deal” and its collapse had already placed De Angelis against the wall, the only way he could purchase these furtures contracts was by issuing phony warehouse receipts for oil stored in his tanks that did not exist!32 Using these phony receipts, he began borrowing money from several brokerage houses for the funds needed to purchase commodities futures.