In 1933, he became involved in a controversy known as the Business Plot, when he told a congressional committee that a group of wealthy industrialists were planning a military coup to overthrow Franklin D. Roosevelt, with Butler selected to lead a march of veterans to become dictator, similar to Fascist regimes at that time. The individuals involved all denied the existence of a plot and the media ridiculed the allegations, but a final report by a special House of Representatives Committee confirmed some of Butler's testimony.