10 min
Episode 5: Equity Funding Corporation Scheme
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- Business
Equity Funding Corporation of America reported strong growth for nearly a decade, culminating in a record profit in 1973. But just a few weeks later the firm imploded. It seems the company wrote insurance policies for people who didn’t even exist.
Equity Funding Corporation of America reported strong growth for nearly a decade, culminating in a record profit in 1973. But just a few weeks later the firm imploded. It seems the company wrote insurance policies for people who didn’t even exist.
10 min