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Great frauds in history

Great frauds in history: the bank that cooked the books
Investment strategy

Great frauds in history: the bank that cooked the books

When loans made by the City of Glasgow Bank turned bad, its management falsified the balance sheet, overstated its gold reserves and issued false stat…
6 Jul 2020
Great frauds in history: Nick Leeson – the man who broke Barings Bank
Nick Leeson © David Lodge/FilmMagic via Getty Images
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Great frauds in history: Nick Leeson – the man who broke Barings Bank

"Rogue trader" Nick Leeson’s losses cost his employer, Barings Bank, an estimated £860m, plunging it into bankruptcy.
1 Jul 2020
Great frauds in history: Nevin Shapiro’s groceries scam
Investment strategy

Great frauds in history: Nevin Shapiro’s groceries scam

Nevin Shapiro's "grocery diverting" business was in reality nothing more than a Ponzi scheme.
24 Jun 2020
Great frauds in history: Nicholas Cosmo and the big gambles that turned sour
Nicholas Cosmo © Getty
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Great frauds in history: Nicholas Cosmo and the big gambles that turned sour

Nicholas Cosmo conned 4,000 investors out of a total of $195m.
17 Jun 2020
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Great frauds in history: Arthur Nadel’s day-trading scam
Investment strategy

Great frauds in history: Arthur Nadel’s day-trading scam

When failed lawyer Arthur Nadel's hedge fund collapsed, it claimed to have $350m in assets. But it had just $500,000 in the bank.
10 Jun 2020
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Great frauds in history... Lee B. Farkas’s dodgy mortgages
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Great frauds in history... Lee B. Farkas’s dodgy mortgages

Lee Bentley Farkas transformed TBW into one of the largest mortgage brokers in the US – his fraud is reckoned to have cost around €3bn.
20 May 2020
Great frauds in history: the downfall of Ferdinand Ward – the "Napoleon of finance"
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Great frauds in history: the downfall of Ferdinand Ward – the "Napoleon of finance"

Ferdinand Ward launched a Ponzi-style scheme based on fictitious government contracts, bringing down the Marine National Bank.
14 May 2020

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Great frauds in history: OPM Leasing Services
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Great frauds in history: OPM Leasing Services

Childhood friends Mordecai Weissman and Myron Goodman siphoned off huge amounts of money from their company to spend on mansions, a private jet and a …
6 May 2020
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Great frauds in history: Allen Chan of Sino-Forest
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Great frauds in history: Allen Chan of Sino-Forest

Allen Chan fooled many investors by falsifying the accounts of his Canadian-listed Chinese forestry company.
29 Apr 2020
Great frauds in history: Ronnie Ewton’s ruinous punt on rates
Investment strategy

Great frauds in history: Ronnie Ewton’s ruinous punt on rates

Ex life-insurance salesman Ronnie Ewton's bet on interest rates cost investors millions and led to the collapse of an American savings bank.
21 Apr 2020
Great frauds in history: Philip Musica AKA "Dr Coster"
Investment strategy

Great frauds in history: Philip Musica AKA "Dr Coster"

On the surface “Dr Coster” appeared to be a successful businessman, but in reality he was skimming money from his medical supplies company.
8 Apr 2020
Great frauds in history: Jack Clark’s nursing homes
Investment strategy

Great frauds in history: Jack Clark’s nursing homes

Jack Clark invented sales, inflated profits and produced fraudulent accounts at his chain of nursing homes to swindle investors out of hundreds of mil…
31 Mar 2020
Great frauds in history: the Hound of Hounslow
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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"
Investment strategy

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
Great frauds in history: Kautilya Pruthi’s Ponzi scheme
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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
Great frauds in history: Andrew Cochrane-Johnstone
Investment strategy

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
Great frauds in history: Charles Keating
Investment strategy

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
Great frauds in history: John G. Bennett Jr’s Ponzi scheme
Investment strategy

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
Great frauds in history: Robert Vesco’s dubious schemes
Investment strategy

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
Investment strategy

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
Great frauds in history: Sergey Mavrodi’s Ponzi scheme
Investment strategy

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
Great frauds in history: Reed Slatkin’s Investment Club
Investment strategy

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