Campbell graduated from Harvard Law School in 1894 and was a partner in the law firm of Campbell and Whipp. Its offices were located at 20 Exchange Place, which was in the middle of the Wall Street area of the city.

Campbell also served as a director or representative for several British and Russian insurance companies. He lived in the prestigious Metropolitan Club, a private social club that was formed in 1891 by J.P. Morgan, the famous American financier and banker.

In October 1932, the 62-year-old Campbell walked into Chase National Bank with 13 bars of gold. In January 1933, he returned to the bank with 14 more bars of gold. His total deposit amounted to $135,000, which in today's dollars equals to $3,058,595. The bank agreed to store Campbell's gold and to return it to him on demand.

On September 16, 1933, Campbell returned to the bank and asked for his gold, pursuant to the storage contract into which he and the bank had entered. The bank refused to give Campbell his gold. It said the law required the bank to deliver his gold to the federal government.

On September 26, Campbell filed a lawsuit in U.S. District Court against the bank. The suit sought to compel the bank to deliver him his gold.

The feds indict Campbell

On September 27, after an 18-minute grand-jury session, federal prosecutors in New York City secured a criminal indictment against Campbell. The indictment charged him with the federal offense of having failed to register his gold with the federal government. Soon thereafter, the indictment was amended to include a second count charging Campbell with "hoarding" his gold.

Campbell was now facing a possible 20 years in jail, a $20,000 fine, and the confiscation of all his gold.