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Author: Douglas Goold
Publisher: M&S
ISBN: 9780771033346
Category : Fraud
Languages : en
Pages : 0
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Book Description
The history books will add the Bre-X saga to other legendary frauds like the South Sea Bubble. When the Bre-X bubble burst, the stock that had soared from fifty cents in 1994 to the equivalent of $286 in 1996 was worth nine cents in May 1997, before trading halted forever. And the Busang deposit, supposedly as much as 200 million ounces of gold, worth about $70 billion U.S. - the biggest gold find in history - was actually the century's biggest fraud. How did this happen, right under the noses of the financial world? In this book the experienced investigative team from "The Globe and Mail's Report on Business that broke the story of Bre-X's troubles has combined forces to answer that question. With literally hundreds of Bre-X interviews behind them, and drawing on resources from several continents, they have been able to explain the twists and turns of this complex tale. The result is a fascinating true story that reads like the wildest fiction.
Author: Douglas Goold
Publisher: M&S
ISBN: 9780771033346
Category : Fraud
Languages : en
Pages : 0
Get Book Here
Book Description
The history books will add the Bre-X saga to other legendary frauds like the South Sea Bubble. When the Bre-X bubble burst, the stock that had soared from fifty cents in 1994 to the equivalent of $286 in 1996 was worth nine cents in May 1997, before trading halted forever. And the Busang deposit, supposedly as much as 200 million ounces of gold, worth about $70 billion U.S. - the biggest gold find in history - was actually the century's biggest fraud. How did this happen, right under the noses of the financial world? In this book the experienced investigative team from "The Globe and Mail's Report on Business that broke the story of Bre-X's troubles has combined forces to answer that question. With literally hundreds of Bre-X interviews behind them, and drawing on resources from several continents, they have been able to explain the twists and turns of this complex tale. The result is a fascinating true story that reads like the wildest fiction.
Author: Diane Francis
Publisher: Key Porter Books
ISBN: 9781550139136
Category : Fraud
Languages : en
Pages : 0
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Book Description
For 2 years, BRE-X was the darling of the world's stock markets. Millionaires were created over night; until the scam was uncovered.
Author: Dan Davies
Publisher: Scribner
ISBN: 1982114932
Category : True Crime
Languages : en
Pages : 304
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Book Description
An entertaining, deeply informative explanation of how high-level financial crimes work, written “with verve and wit” (The Sunday Times, London) by an industry insider who’s an expert in the field. The way most white-collar crime works is by manipulating institutional psychology. That means creating something that looks as much as possible like a normal set of transactions. The drama comes later, when it all unwinds. Financial crime seems horribly complicated, but there are only so many ways you can con someone out of what’s theirs. In Lying for Money, veteran regulatory economist and market analyst Dan Davies tells the story of fraud through a genealogy of financial malfeasance, including: the Great Salad Oil swindle, the Pigeon King International fraud, the fictional British colony of Poyais in South America, the Boston Ladies’ Deposit Company, the Portuguese Banknote Affair, Theranos, and the Bre-X scam. Davies brings new insights into these schemes and shows how all frauds, current and historical, belong to one of four categories (“long firm,” counterfeiting, control fraud, and market crimes) and operate on the same basic principles. The only elements that change are the victims, the scammers, and the terminology. Revealing some of the most famous frauds of the modern age, Davies explains how fraud has shaped the entire development of the modern world economy. For those “who like their true-crime stories laced with economics will enjoy these forays into the dark side” (Kirkus Reviews) this is a gripping and vivid look at modern market societies.
Author: Jennifer Wells
Publisher: Texere Publishing
ISBN: 9780752813790
Category : Commercial crimes
Languages : en
Pages : 404
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Book Description
It was hailed as the biggest gold discovery this century, worth more than u15 billion, but it turned out to be a big mining scandal. This is an account of how, in 1995, Bre-X Minerals, a small Canadian mining company, shot to world fame and fortune after announcing the discovery of 71 million ounces of gold at the Busang site, on the island of Borneo, Indonesia. The value of Bre-X shares soared from $5 to $192.50 within minutes of listing in Toronto in 1996."
Author: Rodney T. Stamler
Publisher: CRC Press
ISBN: 146655455X
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
Lessons can be learned from major fraud cases. Whether the victim is a company, public agency, nonprofit, foundation, or charity, there is a high likelihood that many of these frauds could have been prevented or detected sooner if early Red Flag warning signs had been identified and acted upon. Fraud Prevention and Detection: Warning Signs and the
Author: Kerry B Collison
Publisher: Sid Harta Publishers
ISBN: 1877006092
Category : Fiction
Languages : en
Pages : 356
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Book Description
Based on events surrounding the infamous, billion-dollar BRE-X gold fraud, and the determined few who recklessly destroyed so many lives with their all-consuming quest for gold, in Kalimantan, Indonesian Borneo. When Canadian miner Borneo Gold Corporation announces the discovery of gold reserves in excess of twenty million ounces, pundits drive the worthless stock to giddying heights as the rich and powerful in three countries move to secure control over the deposit. Dayak tribes are forced off traditional lands, precipitating ethnic blood feuds and a return to headhunting practices as exploration practices destroy pristine forests and pollute the environment. Indonesian Gold brings a depth of description and colour to the archipelago's ethnic tribes as they resist the flood of Moslem migrants from the poorer, Indonesian islands, and reveals the extent of devastation visited upon indigenous peoples by multinational, mining companies.
Author: Tom Ajamie
Publisher: Skyhorse
ISBN: 1629149497
Category : Business & Economics
Languages : en
Pages : 293
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Book Description
By using true tales of thieves, swindlers, and fraudsters at work, Financial Serial Killers illustrates how these perpetrators get their hooks into investors' wallets, savings accounts, and portfolios—and never let go. The worst financial crisis since the great depression revealed that thousands of mom and pop investors had lost millions to so-called Mini-Madoffs. They are the thieves and conmen who had used phony financial acumen to steal investors' money, wipe out savings, and damage lives. Financial Serial Killers reveals the cons—from the grand to picayune—advisers cultivate with their victims—relationships that are essential to the fraud. Take the story of Lillian, the little old lady who invested with Warren Buffett, one of the richest men in the world. After her husband died, she thought her family's treasure of $24 million in stock controlled by Buffett was safe. It was—until a family relative introduced the eighty-nine-year-old grandmother to a pair of unscrupulous insurance agents who convinced her to reinvest her savings in life insurance—decimating her nest egg while padding the agents' pockets. Lillian's story, as well as other accounts of deceit and fraud, is the core of Financial Serial Killers. Readers will learn how to better protect their family's wealth and savings after reading this book.
Author: United States. Congress. Senate. Committee on Governmental Affairs. Permanent Subcommittee on Investigations
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 562
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Book Description
Author: Bruce Livesey
Publisher: Random House Digital, Inc.
ISBN: 0307359638
Category : Banks and banking
Languages : en
Pages : 322
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Book Description
"This book sets out to reveal why Canada has become a popular place for investment fraud and thievery, and what the consequences are?and not just for small investors who can lose a lifetime of savings with one wrong turn. It examines how bankers and brokers and the very wealthy rob from investors and companies. Thieves of Bay Street explores how our vaunted financial institutions peddle dangerous investment products and contributed to the U.S. subprime mortgage crisis, the reverberations of which are threatening entire national economies. It?s about the ways that credit rating agencies, underwriters, analysts and lawyers enable fraud, and how regulators and law enforcement sit on the sidelines and do nothing to stop the fiascos from unfolding. If, like so many of us, you've bought the line that Canada's financial industry is safe and sound and worthy of your respect, prepare to be robbed of something yourself: your faith."--Page 4 of cover.
Author: Robert McGhee
Publisher: McGill-Queen's Press - MQUP
ISBN: 0773569502
Category : History
Languages : en
Pages : 209
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Book Description
From the book: "They were five weeks out of England, driving through a storm on the icy edge of the world, when a sudden blast knocked Gabriel on her side. The helmsman tried frantically to turn the tiny ship into the wind that pinned it down, but the rudder had lifted clear of the surface and took no purchase. Water poured over the side, roaring into hatches as the wind drove the vessel across the waves and the crew clung frozen in despair. Only the captain acted, scrambling along the almost-horizontal upper sides, casting off lines to spill wind from the sails, forcing the crew into action to cut away the mizzenmast and the broken foreyard, then preventing them from doing the same to the mainmast. Finally Gabriel rose sluggishly, heavy with seawater but steering slowly off the wind. A tangle of broken rigging and sodden sails, she wallowed before the storm through the remainder of the day and all of the following night, while the captain restored order and set men to pumping the ship dry." Under orders from Queen Elizabeth I, Gabriel's captain B privateer and adventurer Martin Frobisher B took up the search for a northwestern route to Asia. A few days after enduring the storm of 14 July 1576, Frobisher sighted the most easterly outlier of Arctic North America and for the first time England became aware of this vast northern region. Over the next three summers it would be the scene of an adventure involving the fruitless search for a northwest passage, the first attempt by the British to establish a settlement in the New World, and the first major gold-mining fraud in North American history. Over 1,200 tons of rock were mined from Baffin Island and shipped to England, where they were found to contain not an ounce of gold. Yet Frobisher's claim of possession established British interest in northern North America and was the first step in the eventual establishment of British sovereignty over the northern half of the American continent. Using reports from the men who participated in the venture, details preserved in the oral histories of the Inuit, and archaeological information recovered from the sites of Elizabethan activities on Baffin Island, Robert McGhee describes Frobisher's expeditions and offers new insights into this audacious venture. The story ends on an ironic note B the capital of the new Territory of Nunavut, which restores to the Inuit a measure of the sovereignty claimed for England by Frobisher, lies at the head of the bay named after him, where over four centuries ago the English first ventured into Arctic America.
