Great frauds in history

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Great frauds in history: the Hound of Hounslow

"Flash crash" trader Navinder Singh Sarao made around $70m from manipulating the futures market.
25 Mar 2020
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Great frauds in history… George Graham Rice's "adventures with your money"

George Graham Rice, AKA Jacob Simon Herzig, made millions from his dodgy share-tipping sheets, pumping up worthless mining stocks.
18 Mar 2020
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Great frauds in history: Kautilya Pruthi’s Ponzi scheme

Kautilya Nandan Pruthi persuaded a large number of clients including famous sportsman and actors, to part with over £100m, which he used to fund his p…
11 Mar 2020
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Great frauds in history: Andrew Cochrane-Johnstone

How Andrew Cochrane-Johnstone's "Omnium" scam grew into the Great Stock Exchange Fraud of 1814.
4 Mar 2020
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Great frauds in history: Charles Keating

Charles Keating's junk bond scam let the American taxpayer on the hook for $3.4bn.
26 Feb 2020
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Great frauds in history: John G. Bennett Jr’s Ponzi scheme

John G. Bennett Jr's classic Ponzi scheme cost his investors $135m and ended him ten years in jail.
18 Feb 2020
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Great frauds in history: Robert Vesco’s dubious schemes

Robert Vesco looted IOS, a Swiss fund of funds, and the funds it ran by having them invest in a web of banks and shell companies that he himself owned…
5 Feb 2020
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Great frauds in history: BCCI – Agha Hasan Abedi’s dodgy bank

To all appearances, BCCI – set up by Agha Hasan Abedi – was a legitimate bank. But it was a haven of crooks and criminals, and went bankrupt owing inv…
27 Jan 2020

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Great frauds in history: Sergey Mavrodi’s Ponzi scheme

Sergey Mavrodi turned his computer import business into a financial investment scheme and plundered hundreds of millions of dollars.
23 Jan 2020
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Great frauds in history: Reed Slatkin’s Investment Club

Reed Slatkin studied with Scientology's founder L. Ron Hubbard and became an ordained minister in the cult 1975. He used his position to set up an unl…
13 Jan 2020
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Great frauds in history: John Rigas and Adelphia

John Rigas and his family embezzled at least $1bn from their company, Adelphia, wiping out shareholders.
20 Dec 2019
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Great frauds in history: Joel Steinger and the Mutual Benefits Corporation

Joel Steinger and the Mutual Benefits Corporation specialised in selling viaticals, shares in the life-insurance policies of the terminally ill.
16 Dec 2019
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Great frauds in history: Takafumi Horie and Livedoor

Takafumi Horie used Enron-style dummy partnerships to inflate the revenue and operating profits of his company Livedoor.
11 Dec 2019
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Great frauds in history: Richard Whitney and the White Knight’s pensions raid

Richard Whitney went from being the “White Knight” of Wall Street and president of the New York Stock Exchange to a convicted embezzler.
27 Nov 2019
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Great frauds in history: Lord Kylsant and RMSPC

Owen Philipps, AKA Lord Kylsant, manipulated the account of the Royal Mail Steam Packet Company (RMSPC), leaving the company's shareholders with nothi…
20 Nov 2019
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Great frauds in history: Jerry Dominelli’s Ponzi scheme

J. David “Jerry” Dominelli's classic Ponzi fraud cheated investors out of $80m in the 1980s.
13 Nov 2019
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Great frauds in history: Byrraju Ramalinga Raju and Satyam

Byrraju Ramalinga Raju boosted the share price of his company by inflating profits, cash flows and assets, creating false bank statements, customer in…
6 Nov 2019
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Great frauds in history: Victor Jacobowitz’s phony account

Victor Jacobowitz fiddled the inventory records of his health and beauty products business and defrauded investors out of €177m.
30 Oct 2019
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Great frauds in history: Albert Grant

Albert Grant made his money buying worthless companies and using fraud, hype and manipulation to sell them to the public at vastly inflated prices.
23 Oct 2019
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Great frauds in history: James Whitaker Wright

James Whitaker Wright's London and Globe Company acquired various mining companies, fiddled the accounts and defrauded investors out of millions.
16 Oct 2019
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Great frauds in history: Prescott Jernegan’s gold hoax

Prescott Jernegan claimed to be able to extract gold from seawater. He couldn't, of course. But he persuaded an awful lot of people that he could
2 Oct 2019
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Great frauds in history: Harry Marks and his dodgy tips

Harry Marks used his position as the owner of a financial newspaper to con investors into putting their savings into a non-existent gold mine.
25 Sep 2019
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Great frauds in history: Tsuyoshi Kikukawa and Olympus

Tsuyoshi Kikukawa who served as managing director, president and chairman of Japanese camera maker Olympus, hid $1.7bn of losses in the firm.
18 Sep 2019