Oh My Fraud

Caleb and Zach discuss the 2017 film, The Polka King.

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When confronted with irregularities in his employer’s books, an accountant goes into hiding.

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Sources:

·  End of the Trail: Fugitive Comptroller [ACFE Fraud Magazine]

·  Fugitive Spent Years Hiding on the Appalachian Trail [FBI]

·  FBI Announces Arrest of Fugitive Suspect James T. Hammes [FBI]

·  Former Fugitive Pleads Guilty to Embezzling $8.7 Million from Employer [DOJ]

·  Former Fugitive Sentenced to 96 Months in Prison [DOJ]

·  Federal Bureau of Prisons Inmate Locator [BOP]

·  A Long Walk's End [SB Nation]

·  A Killer Hiding on the Appalachian Trail? [The Daily Beast]

·  Accountant who hid on Appalachian Trail jailed for embezzling millions from Pepsi bottler [Accounting Today]

·  Man facing $8.7M embezzlement case hid on Appalachian Trail [Associated Press]

·  Trail hiker pleads guilty to wire fraud in embezzling case [Associated Press]

·  Judge sentences trail-hiking fugitive to 8 years in prison [Associated Press]

·  Kentucky accountant who fled embezzlement case to appeal [Associated Press]

·  Man admits embezzling millions from Cincinnati employer [WLWT]

·  Lawyers: Appalachian Trail was client's 'road to redemption' [WLWT]

·  Man who hid on Appalachian Trail sentenced in $8.7M embezzlement case [WLWT]

·  Feds seek 7-year term for Milwaukee-native fugitive [Wisconsin Law Journal]

·  FBI Arrests Fugitive James Hammes at Trail Days [AppalachianTrail.com]

·  AT Thru-Hiker Bismarck Arrested at Trail Days on Embezzling Charges [The Trek]

·  James Hammes caught after hiding on the Appalachian Trail [TheJournal.ie]

·  American Greed: The Fugitives — "Deceitful Dad and the Missing Millions" [CNBC]

·  America's Most Wanted — Season 26, Episode 37 [America's Most Wanted]
.  A Long Walk's End [SB Nation]

A veteran television producer becomes the star of her own financial crime drama.

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The scion of a commodity trading fortune goes missing after his hedge fund implodes.

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Sources:

Intro

• We had AI analyze 50 hours of sports on TV. t detected gambling ads everywhere. Has the marketing gone too far? [WaPo]
• Former JAFCU head, husband sued for allegedly embezzling $91M [WLBT3]
• Filings reveal former JAFCU head likely facing criminal charges [WLBT3]

Sam Israel III

• Sam Israel Jr., a Leader In Coffee Trading, Dies [NYT]
• A Con Man Who Lives Between Truth and Fiction [NYT]
  Hennessee Group ~40 Clients/$56M [SEC Admin. Order, IA Release No. 2871] — https://www.sec.gov/files/litigation/admin/2009/ia-2871.pdf
• Bayou 2003 Deposits Exceeded $125M [SEC Complaint, 05-CV-8376] — https://www.sec.gov/files/litigation/complaints/comp19406.pdf
• Bayou Clawback 95 Adversary Proceedings [Bankruptcy Court Filing] — https://www.govinfo.gov/content/pkg/USCOURTS-nysb-7_06-ap-08422/pdf/USCOURTS-nysb-7_06-ap-08422-0.pdf
• Samuel Israel III [SEC Litigation Release] — https://www.sec.gov/litigation/litreleases/lr19406.htm
• Samuel Israel III [SEC Press Release] — https://www.sec.gov/news/press/2005-139.htm
• Bayou Group [CFTC Press Release] — https://www.cftc.gov/PressRoom/PressReleases/5121-05
• Samuel Israel III [DOJ Sentencing Release] — https://www.justice.gov/archive/usao/nys/pressreleases/April08/israelsamuelsentencepr.pdf
• Bayou Victims Forfeiture [DOJ Release] — https://www.justice.gov/usao-sdny/pr/victims-bayou-hedge-funds-receive-another31-million-forfeited-assets-including-millions
• James Marquez Co-Founder [InvestmentNews] — https://investmentnews.com/industry-news/news/bayou-mastermind-gets-20-year-sentence-14877
• James Marquez Sentencing [InvestmentNews] — https://www.investmentnews.com/industry-news/news/former-bayou-ceo-sentenced-to-jail-13386
• Samuel Israel III Manhunt [Fox News] — https://www.foxnews.com/story/hedge-fund-swindler-admits-staging-suicide-to-avoid-jail
• Samuel Israel III Sentencing [Fox News] — https://www.foxnews.com/story/hedge-fund-swindler-gets-more-prison-time-for-trying-to-avoid-20-year-sentence.amp
• Samuel Israel III Surrender [NBC News] — https://www.nbcnews.com/news/amp/wbna25495609
• Samuel Israel III Disappearance [CBS News] — https://www.cbsnews.com/news/cops-hedge-fund-swindler-no-suicide
• The Search for a Missing Trader Goes Global [New York Times] — https://www.nytimes.com/2008/06/14/business/14bayou.html
• Did Fees at Bayou Overwhelm Diligence? [New York Times] — https://www.nytimes.com/2005/08/30/business/did-fees-at-bayou-overwhelm
• Clues to a Hedge Fund's Collapse [New York Times] — https://www.nytimes.com/2005/09/17/business/clues-to-a-hedge-funds-collapse
• Several Prominent Firms Invested in Bayou Hedge Funds [WSJ] — https://www.wsj.com/articles/SB112536690332726357
• State May Have $100 Million Of Bayou Funds [WSJ] — https://www.wsj.com/articles/SB112541229967826650
• Spotting a Bayou Before You Fall Into It [WSJ] — https://www.wsj.com/articles/SB112544063792727124
• Bayou Is Probed as Investors Seek Their Cash [WSJ] — https://www.wsj.com/articles/SB112493803797122773
• Suits Target Fund's Early Pullouts [WSJ] — https://www.wsj.com/articles/SB115621287849341876
• Bayou Investors Who Got Out Early Lose Their Bid [WSJ] — https://www.wsj.com/articles/SB118679292540994807
• Hedge-Fund Havoc: Missing Cash And a Principal's Suicide Note [WSJ] — https://www.wsj.com/articles/SB112509707359124571
• Robert Booth Nichols $10M Docket [CourtListener] — https://www.courtlistener.com/docket/4334434/united-states-v-israel-iii/
• Robert Booth Nichols Deposition [Archive.org] — https://archive.org/stream/RobertBoothNicholsDepositionSamIsraelCase/Robert+Booth+Nichols+deposition+-+Sam+Israel+case_djvu.txt
• Hennessee Group Enforcement Action [SEC] — https://www.se...

A flamboyant adventurer known for exaggerating his military exploits returns to Great Britain with tales of a new land of opportunity on the Mosquito Coast.

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Sources:

• Did you read? [r/portlandia]
• Gregor MacGregor [Wikipedia]
• The Land That Never Was: Sir Gregor MacGregor and the Most Audacious Fraud in History [Sinclair, David (2004)]
• David Sinclair - The Sun sub who became a prolific author [The Guardian]
• Amelia Island affair [Wikipedia]
• Memoirs of Gregor M'Gregor [Rafter, M. (1820)]
• Proceedings of an Inquiry and Investigation instituted by Major-General Codd, His Majesty's Superintendent and commander-in-chief at Belize, Honduras, Relative to Poyais [Daniel Crouch Rare Books]
• Gregor McGregor and the Colonization of Poyais, between 1820 and 1824 [The Hispanic American Historical Review, Vol. 7, No. 4 (Nov., 1927), pp. 438-459 via JSTOR]
• The king of con-men [The Economist via Wayback Machine]
• List of ships of the Poyais scheme [Wikipedia]
• Poyais land grant for 60 acres from Gregor MacGregor, April 1834 [University of Edinburgh]
• Sketch of the Mosquito Shore, Including the Territory of Poyais [Daniel Crouch Rare Books]
• Poyais Loan No. A551 One Hundred Pounds. [Daniel Crouch Rare Books]
• Poyaisian Royalty: A George IV silver seal box, John Jago, London, 1823 [Sotheby’s]

Christopher Derry spent 36 years working for the Los Angeles County Sheriff’s Department, 17 as a detective in fraud and cyber crime. Over that time, he’s seen a lot and learned a lot about why people commit fraud, how far they’ll go to keep it going, and what they’ll do to avoid being caught.

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In his senior year at UCLA, Alan L. Green secured an internship as an actuary with Equity Funding, a fast-growing financial conglomerate. Only a short time later, he was invited to play a small part in a fraud that would eventually be exposed as one of the biggest corporate scandals of the 20th century.

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Resources 

• Billion Dollar Bubble (1978) [YouTube]
• I led 66,000 Lives [Rolling Stone]

During the rise of Bitcoin, a would-be rival builds a worldwide following, driven by the charisma of its founder, the self-anointed Cryptoqueen.

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SOURCES

Ruja Ignatova [Wikipedia]

OneCoin [Wikipedia]

Frank Schneider (spy) [Wikipedia]

Co-Founder Of Multi-Billion-Dollar Cryptocurrency Pyramid Scheme "OneCoin" Pleads Guilty [U.S. Department of Justice]

Former Law Firm Partner Sentenced To 10 Years In Prison For Laundering $400 Million In Connection With "OneCoin" Fraud Scheme [U.S. Department of Justice]

"Head Of Legal And Compliance" For Multibillion-Dollar Cryptocurrency Pyramid Scheme "OneCoin" Sentenced To Four Years In Prison [U.S. Department of Justice]

How 'Cryptoqueen' Ruja Ignatova ended up as the only woman on the FBI's most-wanted list [CNN]

FBI adds OneCoin founder Ruja Ignatova to list of most-wanted fugitives [The Washington Post]

US adds 'Cryptoqueen' to most-wanted list over alleged US$4b fraud [Malay Mail / Reuters]

Cryptoqueen: How this Woman Scammed the World, then Vanished [BBC]

A cryptocurrency ponzi scheme is finally unraveling [Quartz]

Is OneCoin the biggest financial fraud in history? [Fortune]

The 'Cryptoqueen' who made FBI's most wanted after $4 billion heist was rumored killed—but evidence leaves more questions than answers [Fortune]

The Outrageous Case of OneCoin, the Billion Dollar Scam Sold as a "Bitcoin Killer" [Bitrates]

The OneCoin Scam: the Dazzling Story of the Biggest Crypto Ponzi in History [CoinMarketCap]

Ruja Ignatova: The Crypto Mogul Scam Artist Who Vanished into Thin Air [CrimeReads]

The Missing Cryptoqueen Details the Rise and Fall of Ruja Ignatova's OneCoin Con [Reason]

Subpoenaed emails reveal OneCoin was fraudulent from inception [BehindMLM]

OneCoin literally a relaunch of the BigCoin Ponzi scheme [BehindMLM]

OneCoin investment packages approach a quarter million Euros [BehindMLM]

OneCoin debut €118,000 EUR investment package [BehindMLM]

OneCoin under regulatory investigation in Germany [BehindMLM]

Fourteen OneCoin promoters indicted in Italy [BehindMLM]

Konstantin Ignatov receives time served for OneCoin fraud [BehindMLM]

OneCoin's Ruja Ignatova indicted in Germany [BehindMLM]

OneCoin Research Paper: Islamic Ruling [Islamic Portal]

Cryptoqueen's brother is freed after 3 years jail over OneCoin scheme: Report [Cointelegraph]

Cryptoqueen's Brother Gets Time Served for Leading OneCoin Scam [Bloomberg]

OneCoin co-founder Greenwood gets 20 years in US jail for fraud, money laundering [Investing.com / Cointelegraph]

Fugitive 'cryptoqueen' accomplice is jailed for 20 years for $4bn global scam [The Independent / AOL]

US boosts reward for info on 'Missing Cryptoqueen' Ruja Ignatova to $5 million [The Record]

Missing 'Cryptoqueen' Ruja Ignatova 'May Be Hiding in Russia' [Decrypt]

OneCoin fraudster Ruja Ignatova reportedly hiding in Russia to avoid arrest [Invezz]

Crypto Queen Ruja Ignatova, OneCoin's $4 Billion Fraud Mastermind, Is Alive And In South Africa, German Police Suspects [Benzinga]

A serial entrepreneur sets out to transform the trucking industry.

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SOURCES

• Trevor Milton [Wikipedia]
• Nikola Corporation [Wikipedia]
• Hydrogen Fuel Cell Electric Vehicle Availability [DOE]
• Trevor Milton Sentenced to Four Years in Prison for Securities Fraud Scheme [U.S. Department of Justice]
• Former Nikola Corporation CEO Trevor Milton Charged in Securities Fraud Scheme [U.S. Department of Justice]
• Trump Pardons Nikola Founder Trevor Milton in Securities Fraud Case [CNBC]
• Nikola Founder Trevor Milton Sentenced to Four Years in Prison for Fraud [CNBC]
• Nikola Founder Trevor Milton Sentenced to 4 Years in Jail for Fraudulent Claims [ABC News]
• Nikola Founder Trevor Milton Sentenced to Four Years in Prison for Defrauding Investors [CNN]
• Nikola: How to Parlay An Ocean of Lies Into a Partnership With the Largest Auto OEM in America [Hindenburg Research]
• Nikola Admits Semi Truck Prototype Rolled Downhill in Promo [Futurism]
• Prosecutor Calls Nikola Founder a 'Con Man' in Closing Argument [FreightWaves]
• Prosecution Rests in Nikola Founder Trevor Milton's Fraud Trial [FreightWaves]
• Nikola Founder Trevor Milton Won't Testify in His Fraud Trial [Transport Topics]
• Nikola Founder Trevor Milton Stands Trial on Fraud Charges [CNBC]
• For Trevor Milton's Business Partners, Warning Signs Emerged Years Before Nikola Downfall [CNN]
• The Rise and Fall of Nikola Founder Trevor Milton [MEL Magazine]
• Nikola's Trevor Milton Left a Trail of Bitterness on His Way to Founding the Electric-Truck Startup [Yahoo Finance]
• Nikola's Trevor Milton Has $7.4 Billion Fortune on Free Truck Orders [Transport Topics]
• The Nikola Scandal Is a Cautionary Tale About Green Tech's Gauzy Promises [The New Republic]
• For Trevor Milton's business partners, warning signs emerged years before Nikola downfall [CNN Business]
• Trevor Milton and Nikola Just Another Page in Trucking History [Commercial Carrier Journal]
• How Much Are You Spending on Fuel Compared to Other Owner-Operators? [ATBS]
• California Hydrogen Highway [Wikipedia]
• Nikola Founder Trevor Milton Details Call With Trump Ahead of Pardon [WSJ News via YouTube]
• Nikola founder says $2 million in political donations to Trump had nothing to do with pardon [12 News via YouTube]

Caleb and Zach discuss the classic Mel Brooks satire, "The Producers."

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