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The Fraudster's Guide to Magic Money

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Manage episode 414661107 series 2564186
Content provided by Pushkin Industries. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Pushkin Industries or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

Sam Israel had a problem. The investors in his hedge fund, Bayou Capital, were expecting spectacular returns. Sam himself had spent years proclaiming the fund's brilliant results. But in reality, Sam had been marking his own homework, publishing fraudulent accounts and using these to lure in new investors.

What to do? Well, the logical thing of course: wait around for an extraordinary profitable streak, and in the meantime keep up the ruse...

This episode of Cautionary Tales was recorded live at the Bristol Festival of Economics and studies three incredible investment scams. How do pyramid and ponzi schemes snowball out of control, flattening victim and fraudster alike?

For a full list of sources, see the show notes at timharford.com.

See omnystudio.com/listener for privacy information.

  continue reading

181 episodes

Artwork
iconShare
 
Manage episode 414661107 series 2564186
Content provided by Pushkin Industries. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Pushkin Industries or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

Sam Israel had a problem. The investors in his hedge fund, Bayou Capital, were expecting spectacular returns. Sam himself had spent years proclaiming the fund's brilliant results. But in reality, Sam had been marking his own homework, publishing fraudulent accounts and using these to lure in new investors.

What to do? Well, the logical thing of course: wait around for an extraordinary profitable streak, and in the meantime keep up the ruse...

This episode of Cautionary Tales was recorded live at the Bristol Festival of Economics and studies three incredible investment scams. How do pyramid and ponzi schemes snowball out of control, flattening victim and fraudster alike?

For a full list of sources, see the show notes at timharford.com.

See omnystudio.com/listener for privacy information.

  continue reading

181 episodes

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