9 episodes
Scheme Michael McLaughlin
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- Business
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5.0 • 23 Ratings
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Scheme is a podcast about accounting fraud. Not run-of-the-mill fraud like passing $200 of bad checks, but large-scale frauds involving millions of dollars that ruined people's lives. Each episode discusses how a fraud was carried out, and what we can learn from it. Scheme is created and produced by Michael McLaughlin, an accounting professor and creator of Edspira.
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Episode 9: Cobalt Multifamily Investors
The story of Cobalt involves a former associate of the Wolf of Wall Street, and a Ponzi scheme run by a convicted fraudster. Then, Donald Trump got involved.
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Episode 8: Interpublic
Interpublic was forced to restate its financials back to 1997. Had the company committed ANOTHER fraud, right after the first one?
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Episode 7: Capitol Investments
Nevin Shapiro was living the high life, and people assumed his high-roller lifestyle was funded by his business, Capitol Investments. But Shapiro’s business hadn’t conducted operations in years...
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Episode 6: Harvey, Illinois
Satish Gabhawala convinced the city of Harvey to raise $14 million from bond issuances to construct a hotel and 24-hour diner. However, 5 years later the buildings were never finished. Where had the 14 million gone?
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Episode 5: Equity Funding Corporation
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.
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Episode 4: American Bank Note Holographics
Just 6 months after American Bank Note Holographics' IPO, the company said it needed to restate its financials…A company that had been created to prevent fraud had lied about its revenue.
Customer Reviews
Absolutely incredible
Micheal’s work has always been of the highest quality and caliber — this podcast is no different. So impressed by his ability to dig through intense data and turn his findings into captivating stories