He donated a significant amount of his fortune to the church, and was rewarded with private audiences with three popes.
[3] Born and raised in Pine Island, New York, Kosuga owned a 5,000-acre (2,000 ha) black dirt farm where he grew onions, celery, and lettuce.
He once bribed a weather bureau to issue a frost warning in order to inflate the price of futures contracts that he owned.
[6] Seigel and Kosuga told the growers that they would hold the rest of their inventory in order to support the price of onions.
[8] Seigel and Kosuga made millions of dollars on the transaction due to their short position on onion futures.
[5] A public outcry ensued among onion farmers who were left with large amounts of worthless inventory.
[7] During the hearings, the Commodity Exchange Authority stated that it was the perishable nature of onions which made them vulnerable to price swings.
The bill was unpopular among traders, some of whom argued that onion shortages were not a crucial issue since they were used as a condiment rather than a staple food.
After a federal judge ruled against them, they declined to appeal to the Supreme Court and the ban stood.
[10] After the futures market was reformed, Kosuga returned to New York full-time and focused on his local business interests and philanthropy.
Kosuga opened a restaurant next to his farm called The Jolly Onion Inn, where he served as a chef.
The Pine Island Chamber of Commerce's mission is to increase profits for businesses in the community, as it is not a charity nor a philanthropic organization.