The Y in History

Episode 54: Financial Scandals and Cons


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In 1920, Charles Ponzi started the Ponzi scheme which promised a 50% return on investments after 90 days. After a few successful months, his luck ran out as new investments dried and Ponzi came under the radar of investigators. 

Victor Lustig conned two buyers and sold a national monument.

The two biggest corporate bankruptcies in the United States came about due to Accounting Fraud.

The 1MDB moeny laundering happened at the highest levels of government, in Malaysia.

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The Y in HistoryBy Ajay Kaul

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