 It was known that Guffey suffered financial setbacks in Mexico in his oil speculation during World War I.In 1926, Guffey was named in another federal indictment involving alleged undervaluation of property and collusion of interest in bidding regarding the sale of the Bosch Magneto Company taken over by Alien Property Custodian as an enemy-owned asset.Joseph Patrick Tumulty, former President Wilson's personal secretary and Guffey's attorney asserted that all allegation against his client were politically motivated.