https://www.spreaker.com/podcast/financial-fraud-stories--7290095
Each episode reconstructs one ponzi scheme in full, cinematic detail: the founder and the promise, the early investors paid with the money of the late ones, the auditors and regulators waved away, and the week the music stopped. No host chatting between clips, no panel debating finance. Just one complete story, narrated start to finish, built from indictments, investor testimony, and the wreckage of the accounts.

You will watch ponzi schemes swallow retirement funds, charities, and entire towns; operators who kept the lie alive for decades; and the investigators who saw the impossible returns and refused to look away. Some episodes follow a single scheme from first dollar to courtroom; others follow the victims rebuilding after the collapse. All of them treat ponzi schemes as what they really are: trust, weaponized.

If you are drawn to financial true crime that reads like a slow-burning thriller, this is built for you. New episodes drop regularly, each one a self-contained ponzi scheme from birth to collapse. Subscribe now so the next billion dollar lie lands the moment it goes live.]]>enBusinessCopyright OBOMEDIA ENTERTAINMENThttps://d3wo5wojvuv7l.cloudfront.net/t_rss_itunes_square_1400/images.spreaker.com/original/f5e63be2a9bf28aaade593d546305796.jpghttps://www.spreaker.com/podcast/financial-fraud-stories--7290095Thu, 17 Sep 2026 19:18:23 +0000OBOMEDIA ENTERTAINMENTOBOMEDIA ENTERTAINMENTcreators@obomedia.comPonzi schemes only have one ending, and every operator knows it from day one. The genius is not in the math, which never works, but in the performance: the confidence, the exclusivity, the returns too smooth to question. This show tells the true...
Each episode reconstructs one ponzi scheme in full, cinematic detail: the founder and the promise, the early investors paid with the money of the late ones, the auditors and regulators waved away, and the week the music stopped. No host chatting between clips, no panel debating finance. Just one complete story, narrated start to finish, built from indictments, investor testimony, and the wreckage of the accounts.

You will watch ponzi schemes swallow retirement funds, charities, and entire towns; operators who kept the lie alive for decades; and the investigators who saw the impossible returns and refused to look away. Some episodes follow a single scheme from first dollar to courtroom; others follow the victims rebuilding after the collapse. All of them treat ponzi schemes as what they really are: trust, weaponized.

If you are drawn to financial true crime that reads like a slow-burning thriller, this is built for you. New episodes drop regularly, each one a self-contained ponzi scheme from birth to collapse. Subscribe now so the next billion dollar lie lands the moment it goes live.]]>false092d29eb-1d29-5a3b-9c29-e56e10a0df49episodichttps://www.spreaker.com/episode/the-paymaster-shortened-his-name-and-erased-a-family-s-identity--74973400
A Greek goat-herder steps off a ship at Ellis Island in 1901 carrying a name that had survived a village, an ocean and three weeks in a cargo hold. A railroad paymaster decides that name is too long to write twice, and issues a new one as a condition, not a courtesy. What grows from that shortened name, across two generations, changes how an entire country extracts energy from the ground beneath it.

In this episode, we trace the line from an immigrant's forced name change to a Fortune 500 energy company and a forest township built by the same man who cracked open the Barnett Shale, asking how one person can fund a warning about the limits of growth while spending decades pushing past them.

Person: George Phydias Mitchell
Location: Galveston, Texas
Date: 1901
Case: the renaming of Savvas Paraskevopoulos into Mike Mitchell by a railroad paymaster
Status: the name endured across generations, eventually placed on a Texas A&M marine campus by the sea

- Savvas Paraskevopoulos departed Piraeus on February 28, 1901 and arrived at Ellis Island on March 21, 1901 after a crossing that began March 1, 1901
- George Mitchell graduated valedictorian from Texas A&M in 1940 with a petroleum engineering degree and served as captain of the men's tennis team
- Mitchell Energy and Development Corporation participated in roughly 10,000 wells, more than 1,000 of them wildcat wells, before its acquisition by Devon Energy
- The Potential Gas Committee assessed the shale gas breakthrough as unlocking 118 years of U.S. recoverable reserves at then-current production levels
- The Cynthia and George Mitchell Foundation and the couple personally distributed or pledged more than $900 million in grants, with nearly $100 million going to Texas A&M
- Cynthia Mitchell died December 27, 2009; the Giving Pledge announcement describing their "long-held private intent" came on December 7, 2010
- George Mitchell died July 26, 2013, at age 94 in Galveston, survived by 10 children, 23 grandchildren and 5 great-grandchildren

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973400Mon, 07 Sep 2026 16:10:47 +0000OBOMEDIA ENTERTAINMENTThe Paymaster Shortened His Name and Erased a Family's Identity A Greek goat-herder steps off a ship at Ellis Island in 1901 carrying a name that had survived a village, an ocean and three weeks in a cargo hold. A railroad paymaster decides that...
A Greek goat-herder steps off a ship at Ellis Island in 1901 carrying a name that had survived a village, an ocean and three weeks in a cargo hold. A railroad paymaster decides that name is too long to write twice, and issues a new one as a condition, not a courtesy. What grows from that shortened name, across two generations, changes how an entire country extracts energy from the ground beneath it.

In this episode, we trace the line from an immigrant's forced name change to a Fortune 500 energy company and a forest township built by the same man who cracked open the Barnett Shale, asking how one person can fund a warning about the limits of growth while spending decades pushing past them.

Person: George Phydias Mitchell
Location: Galveston, Texas
Date: 1901
Case: the renaming of Savvas Paraskevopoulos into Mike Mitchell by a railroad paymaster
Status: the name endured across generations, eventually placed on a Texas A&M marine campus by the sea

- Savvas Paraskevopoulos departed Piraeus on February 28, 1901 and arrived at Ellis Island on March 21, 1901 after a crossing that began March 1, 1901
- George Mitchell graduated valedictorian from Texas A&M in 1940 with a petroleum engineering degree and served as captain of the men's tennis team
- Mitchell Energy and Development Corporation participated in roughly 10,000 wells, more than 1,000 of them wildcat wells, before its acquisition by Devon Energy
- The Potential Gas Committee assessed the shale gas breakthrough as unlocking 118 years of U.S. recoverable reserves at then-current production levels
- The Cynthia and George Mitchell Foundation and the couple personally distributed or pledged more than $900 million in grants, with nearly $100 million going to Texas A&M
- Cynthia Mitchell died December 27, 2009; the Giving Pledge announcement describing their "long-held private intent" came on December 7, 2010
- George Mitchell died July 26, 2013, at age 94 in Galveston, survived by 10 children, 23 grandchildren and 5 great-grandchildren

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>876falsefullhttps://www.spreaker.com/episode/the-turner-canvas-she-bought-at-record-price-declared-her-rule--74973398
In 1980, at a Sotheby's auction, an Argentine woman raised her hand and paid six point four million dollars for a single canvas — a world record for any painting ever sold at auction. The country she came from was four years into a military dictatorship, still counting its disappeared. Why would the woman who had just inherited a cement company in the darkest year of Argentina's history choose that exact moment to announce herself through a Turner?

In this episode, we trace Amalia Lacroze de Fortabat's path from inheriting Loma Negra in 1976 to building a private empire and a public museum, asking what a person does with accumulated power once they can see its edge approaching.

Person: Amalia Lacroze de Fortabat
Location: Buenos Aires, Argentina
Date: 1980
Case: the record-price purchase of Turner's Juliet and Her Nurse
Status: the painting now hangs in the Fortabat Art Collection, a free public museum in Puerto Madero

- She inherited Loma Negra in 1976, the year of the military coup, becoming its nearly sole owner, president, and chairperson in her mid-fifties
- The Turner purchase of 6.4 million dollars in 1980 set a world record for any painting sold at auction
- In 1992 she acquired a 65 percent stake in the privatized Ferrosur Roca railway and broke ground on Loma Negra's Catalinas Norte headquarters
- In 1997 she publicly objected, via a paid newspaper advertisement, to her own foundation's literary prize winner, The Anatomist by Federico Andahazi, while still paying the 15,000-dollar award
- She sold her 80 percent stake in Loma Negra to Camargo Correa for just over one billion dollars in May 2005, at age 83, and opened the Fortabat Art Collection museum, designed by Rafael Viñoly, in October 2008

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973398Mon, 07 Sep 2026 16:10:43 +0000OBOMEDIA ENTERTAINMENTThe Turner canvas she bought at record price declared her rule In 1980, at a Sotheby's auction, an Argentine woman raised her hand and paid six point four million dollars for a single canvas — a world record for any painting ever sold at auction....
In 1980, at a Sotheby's auction, an Argentine woman raised her hand and paid six point four million dollars for a single canvas — a world record for any painting ever sold at auction. The country she came from was four years into a military dictatorship, still counting its disappeared. Why would the woman who had just inherited a cement company in the darkest year of Argentina's history choose that exact moment to announce herself through a Turner?

In this episode, we trace Amalia Lacroze de Fortabat's path from inheriting Loma Negra in 1976 to building a private empire and a public museum, asking what a person does with accumulated power once they can see its edge approaching.

Person: Amalia Lacroze de Fortabat
Location: Buenos Aires, Argentina
Date: 1980
Case: the record-price purchase of Turner's Juliet and Her Nurse
Status: the painting now hangs in the Fortabat Art Collection, a free public museum in Puerto Madero

- She inherited Loma Negra in 1976, the year of the military coup, becoming its nearly sole owner, president, and chairperson in her mid-fifties
- The Turner purchase of 6.4 million dollars in 1980 set a world record for any painting sold at auction
- In 1992 she acquired a 65 percent stake in the privatized Ferrosur Roca railway and broke ground on Loma Negra's Catalinas Norte headquarters
- In 1997 she publicly objected, via a paid newspaper advertisement, to her own foundation's literary prize winner, The Anatomist by Federico Andahazi, while still paying the 15,000-dollar award
- She sold her 80 percent stake in Loma Negra to Camargo Correa for just over one billion dollars in May 2005, at age 83, and opened the Fortabat Art Collection museum, designed by Rafael Viñoly, in October 2008

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1014falsefullhttps://www.spreaker.com/episode/they-nationalized-their-bank-how-the-rothschilds-rebuilt-an-empire--74973397
To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973397Mon, 07 Sep 2026 16:10:40 +0000OBOMEDIA ENTERTAINMENTNo description available.
To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1180falsefullhttps://www.spreaker.com/episode/the-unsealed-envelope-that-showed-a-social-security-number-to-every-postal-worker--74973394
In December of 2005, an envelope moved through the U.S. postal system with a Social Security number printed on the outside — visible to every carrier and clerk who touched it. The company that sent it had spent fifty years telling Americans it could be trusted with their most sensitive financial details. So how does a company built on that exact promise end up mailing out the one number it was legally bound to protect?

In this episode, we trace H&R Block from a 1946 bookkeeping shop on Main Street in Kansas City to a sprawling financial services company that overstated its own earnings, mishandled its own state taxes, and settled lawsuits over retirement accounts and refund loans — asking whether a company can keep its founding promise while expanding far beyond the expertise that made it trustworthy in the first place.

Person: Henry W. Bloch
Location: Kansas City, Missouri
Date: December 2005
Case: a Social Security number printed on the outside of a mailed envelope
Status: disclosed as affecting less than three percent of mailings, amid a wider pattern of accounting and product failures

- H&R Block was founded in 1946 by Henry and Richard Bloch with $5,000 borrowed capital and a $5 tax-service ad in The Kansas City Star (1955)
- In August 2005, the company disclosed it had overstated earnings by $91.1 million over two years, citing insufficient internal resources for complex tax accounting
- In February 2006, H&R Block announced it had miscalculated its own state income taxes, owing $32 million in back taxes
- New York Attorney General Eliot Spitzer sued over the Express IRA product in March 2006, alleging 85% of account holders lost money after fees; the case settled in 2009 for $11.4–$19.4 million plus $750,000 in costs
- California settled a separate 2009 case over refund anticipation loans for $4.85 million, and H&R Block exited that business entirely in 2011

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973394Mon, 07 Sep 2026 16:10:36 +0000OBOMEDIA ENTERTAINMENTThe unsealed envelope that showed a Social Security number to every postal worker In December of 2005, an envelope moved through the U.S. postal system with a Social Security number printed on the outside — visible to every carrier and clerk who...
In December of 2005, an envelope moved through the U.S. postal system with a Social Security number printed on the outside — visible to every carrier and clerk who touched it. The company that sent it had spent fifty years telling Americans it could be trusted with their most sensitive financial details. So how does a company built on that exact promise end up mailing out the one number it was legally bound to protect?

In this episode, we trace H&R Block from a 1946 bookkeeping shop on Main Street in Kansas City to a sprawling financial services company that overstated its own earnings, mishandled its own state taxes, and settled lawsuits over retirement accounts and refund loans — asking whether a company can keep its founding promise while expanding far beyond the expertise that made it trustworthy in the first place.

Person: Henry W. Bloch
Location: Kansas City, Missouri
Date: December 2005
Case: a Social Security number printed on the outside of a mailed envelope
Status: disclosed as affecting less than three percent of mailings, amid a wider pattern of accounting and product failures

- H&R Block was founded in 1946 by Henry and Richard Bloch with $5,000 borrowed capital and a $5 tax-service ad in The Kansas City Star (1955)
- In August 2005, the company disclosed it had overstated earnings by $91.1 million over two years, citing insufficient internal resources for complex tax accounting
- In February 2006, H&R Block announced it had miscalculated its own state income taxes, owing $32 million in back taxes
- New York Attorney General Eliot Spitzer sued over the Express IRA product in March 2006, alleging 85% of account holders lost money after fees; the case settled in 2009 for $11.4–$19.4 million plus $750,000 in costs
- California settled a separate 2009 case over refund anticipation loans for $4.85 million, and H&R Block exited that business entirely in 2011

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1073falsefullhttps://www.spreaker.com/episode/the-toaster-oven-that-flattened-the-heel-and-rewrote-running-shoes--74973393
In a family shoe store in Orem, Utah, a young clerk takes a pair of scissors to a running shoe, cuts away the padded heel, and reseals it inside a toaster oven. The result is a shoe with no height difference between heel and toe, built on a hunch about how the foot is actually supposed to land. What happens when a company founded on stripping things away from a shoe is later pushed, at the moment it matters most, to start adding things back in?

In this episode, we trace Altra Running from a single modified prototype in a Utah shoe store to a record-breaking treadmill run and a corporate acquisition, asking what a company owes to the idea it was built on once growth, awards, and a buyer start asking for something else.

Person: Golden Harper
Location: Orem, Utah
Date: 2009
Case: the zero-drop running shoe, first modified by hand with scissors and a toaster oven
Status: acquired by VF Corporation in June 2018, later strained by the parent company's financial troubles

- Jacob Puzey ran fifty miles on a treadmill in 4:57:45 in December 2016, beating the previous world record by more than an hour
- Altra Footwear launched in 2009, founded by Golden Harper with Brian Beckstead, Quirl Hansen, and Jeremy Howlett, after major shoe companies declined the Zero Drop concept
- By September 2013, Altra reported 300 percent annual growth

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973393Mon, 07 Sep 2026 16:10:31 +0000OBOMEDIA ENTERTAINMENTThe toaster oven that flattened the heel and rewrote running shoes In a family shoe store in Orem, Utah, a young clerk takes a pair of scissors to a running shoe, cuts away the padded heel, and reseals it inside a toaster oven. The result is a shoe...
In a family shoe store in Orem, Utah, a young clerk takes a pair of scissors to a running shoe, cuts away the padded heel, and reseals it inside a toaster oven. The result is a shoe with no height difference between heel and toe, built on a hunch about how the foot is actually supposed to land. What happens when a company founded on stripping things away from a shoe is later pushed, at the moment it matters most, to start adding things back in?

In this episode, we trace Altra Running from a single modified prototype in a Utah shoe store to a record-breaking treadmill run and a corporate acquisition, asking what a company owes to the idea it was built on once growth, awards, and a buyer start asking for something else.

Person: Golden Harper
Location: Orem, Utah
Date: 2009
Case: the zero-drop running shoe, first modified by hand with scissors and a toaster oven
Status: acquired by VF Corporation in June 2018, later strained by the parent company's financial troubles

- Jacob Puzey ran fifty miles on a treadmill in 4:57:45 in December 2016, beating the previous world record by more than an hour
- Altra Footwear launched in 2009, founded by Golden Harper with Brian Beckstead, Quirl Hansen, and Jeremy Howlett, after major shoe companies declined the Zero Drop concept
- By September 2013, Altra reported 300 percent annual growth

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>934falsefullhttps://www.spreaker.com/episode/the-rewritten-loan-software-that-let-him-borrow-billions-without-anyone-checking--74973389
Somewhere inside a General Motors financing office on Long Island, employees had a nickname for the days when their own systems seemed to bend around a single customer's paperwork. They called them Mac Attacks. What kind of borrower gets an entire lending institution to rewrite its own code just to keep up with him?

In this episode, we trace how one Long Island car dealer built an eleven-year borrowing operation inside General Motors' own financing arm, asking how an institution designed to verify collateral came to never check it at all.

Person: John McNamara
Location: Port Jefferson, Long Island, New York
Date: 1980 to 1990
Case: roughly six billion dollars in GMAC loans against non-existent conversion vans
Status: scheme collapsed in 1990 when GM auditors found no matching vehicle records; McNamara pleaded down to five years in a 1992 Brooklyn federal trial

- McNamara, born in 1940, took over as President of Sales at his father's Pontiac-Buick dealership in Port Jefferson after an earlier Florida business venture ended in bankruptcy
- The scheme used shell entities including Kay Industries Inc. (Indiana), McNamara Pontiac-Buick, and Cydonia Trading CTD (Cyprus), all controlled by McNamara, to cycle fictitious van purchases through GMAC loans
- Annual borrowing rose from $250 million in 1985 to $715 million in 1989 to $1.8 billion in 1990
- GMAC extended McNamara's first-payment window from the standard 30 days to 60 days and modified its loan-processing software to handle his volume
- At peak volume, Kay Industries would have needed to convert 200 to 400 vans a day, exceeding the output of the entire U.S. van conversion industry
- The unpaid balance at collapse was $436 million; GMAC's internal review concluded the case revealed no "systemic problems" with its core business functions
- Assistant U.S. Attorney Loretta Lynch noted McNamara's personal life was largely unchanged before and after his conviction

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973389Mon, 07 Sep 2026 16:10:27 +0000OBOMEDIA ENTERTAINMENTThe rewritten loan software that let him borrow billions without anyone checking Somewhere inside a General Motors financing office on Long Island, employees had a nickname for the days when their own systems seemed to bend around a single...
Somewhere inside a General Motors financing office on Long Island, employees had a nickname for the days when their own systems seemed to bend around a single customer's paperwork. They called them Mac Attacks. What kind of borrower gets an entire lending institution to rewrite its own code just to keep up with him?

In this episode, we trace how one Long Island car dealer built an eleven-year borrowing operation inside General Motors' own financing arm, asking how an institution designed to verify collateral came to never check it at all.

Person: John McNamara
Location: Port Jefferson, Long Island, New York
Date: 1980 to 1990
Case: roughly six billion dollars in GMAC loans against non-existent conversion vans
Status: scheme collapsed in 1990 when GM auditors found no matching vehicle records; McNamara pleaded down to five years in a 1992 Brooklyn federal trial

- McNamara, born in 1940, took over as President of Sales at his father's Pontiac-Buick dealership in Port Jefferson after an earlier Florida business venture ended in bankruptcy
- The scheme used shell entities including Kay Industries Inc. (Indiana), McNamara Pontiac-Buick, and Cydonia Trading CTD (Cyprus), all controlled by McNamara, to cycle fictitious van purchases through GMAC loans
- Annual borrowing rose from $250 million in 1985 to $715 million in 1989 to $1.8 billion in 1990
- GMAC extended McNamara's first-payment window from the standard 30 days to 60 days and modified its loan-processing software to handle his volume
- At peak volume, Kay Industries would have needed to convert 200 to 400 vans a day, exceeding the output of the entire U.S. van conversion industry
- The unpaid balance at collapse was $436 million; GMAC's internal review concluded the case revealed no "systemic problems" with its core business functions
- Assistant U.S. Attorney Loretta Lynch noted McNamara's personal life was largely unchanged before and after his conviction

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1218falsefullhttps://www.spreaker.com/episode/the-five-hundred-impossible-trades-on-his-investor-statements-toppled-his-empire--74973384
Five hundred times, the price printed on an account statement described a trade the market itself never recorded — a stock bought or sold at a number the exchange never touched, on a day when the real trading range was somewhere else entirely. The statements kept arriving anyway, year after year, and the fees kept getting collected. Did the man signing off on them know?

In this episode, we trace the paper trail behind J. Ezra Merkin's decade-long channel of investor money into Bernard Madoff's firm, asking what it means to be paid tens of millions of dollars a year not to check numbers that anyone with a market data terminal could have disproven in under a minute.

Person: J. Ezra Merkin
Location: New York City (Park Avenue, and the Fifth Avenue Synagogue)
Date: December 2008
Case: five hundred trades on investor account statements priced outside the actual market range
Status: settled for $405 million in 2012, with arbitration panels finding negligence but no court finding of fraud

- Merkin directed more than $1 billion to Bernard Madoff's firm starting in 1992, and collected over $470 million in fees between 1995 and 2007
- Victor Teicher, who managed Merkin's offshore fund, told him directly that Madoff's steady returns were "impossible"
- Trustee Irving Picard's May 7, 2009 complaint alleged Merkin's three funds withdrew at least $494 million from Madoff accounts since 2002
- Institutions tied to Merkin's circle lost heavily: Yeshiva University ($110 million), NYU ($24 million), and the Elie Wiesel Foundation for Humanity ($15.4 million)
- Merkin resigned as GMAC chairman in January 2009 under Federal Reserve pressure, resigned as Fifth Avenue Synagogue president by May 2009, and later sold his 12-painting Rothko collection for $320 million

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973384Mon, 07 Sep 2026 16:10:23 +0000OBOMEDIA ENTERTAINMENTThe five hundred impossible trades on his investor statements toppled his empire Five hundred times, the price printed on an account statement described a trade the market itself never recorded — a stock bought or sold at a number the exchange...
Five hundred times, the price printed on an account statement described a trade the market itself never recorded — a stock bought or sold at a number the exchange never touched, on a day when the real trading range was somewhere else entirely. The statements kept arriving anyway, year after year, and the fees kept getting collected. Did the man signing off on them know?

In this episode, we trace the paper trail behind J. Ezra Merkin's decade-long channel of investor money into Bernard Madoff's firm, asking what it means to be paid tens of millions of dollars a year not to check numbers that anyone with a market data terminal could have disproven in under a minute.

Person: J. Ezra Merkin
Location: New York City (Park Avenue, and the Fifth Avenue Synagogue)
Date: December 2008
Case: five hundred trades on investor account statements priced outside the actual market range
Status: settled for $405 million in 2012, with arbitration panels finding negligence but no court finding of fraud

- Merkin directed more than $1 billion to Bernard Madoff's firm starting in 1992, and collected over $470 million in fees between 1995 and 2007
- Victor Teicher, who managed Merkin's offshore fund, told him directly that Madoff's steady returns were "impossible"
- Trustee Irving Picard's May 7, 2009 complaint alleged Merkin's three funds withdrew at least $494 million from Madoff accounts since 2002
- Institutions tied to Merkin's circle lost heavily: Yeshiva University ($110 million), NYU ($24 million), and the Elie Wiesel Foundation for Humanity ($15.4 million)
- Merkin resigned as GMAC chairman in January 2009 under Federal Reserve pressure, resigned as Fifth Avenue Synagogue president by May 2009, and later sold his 12-painting Rothko collection for $320 million

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1129falsefullhttps://www.spreaker.com/episode/the-check-that-financed-the-party-and-ignited-a-country--74973382
A shoe factory worker's investment scheme was paying depositors one hundred percent interest, and half a country's economy was riding on it. Then, in a single week in January 1997, more than a dozen firms stopped paying at once, and a $550,000 check tied to a ruling political party surfaced in the record. What happens when a government that controls every institution in the country simply chooses to say nothing?

In this episode, we trace Albania's collapse from the warnings the IMF issued in 1995 through the pyramid schemes' failure, the armed uprising, and the international intervention that followed, asking what happens to a society when no institution is left capable of telling the truth.

Person: Sali Berisha
Location: Vlorë, Albania
Date: January 1997
Case: the pyramid investment schemes and their collapse
Status: government resignation, foreign intervention, and elections after months of armed unrest

- A check for $550,000 left the accounts of the firm Gjallica for the Socialist Party of Albania on January 7, 1997; Gjallica declared bankruptcy on February 4, 1997.
- By the end of 1996, pyramid scheme liabilities were estimated at more than one billion dollars, nearly half of Albania's GDP.
- On February 28, 1997, rebels attacked the SHIK intelligence headquarters in Vlorë, killing nine people, six of them intelligence officers.
- The UN Security Council authorized Operation Alba on March 28, 1997; roughly seven thousand troops from Italy, Greece, Romania, Turkey, Austria, France, and other countries deployed starting April 15.
- On June 29, 1997, the Socialist Party won 100 of 151 parliamentary seats with 72.6 percent turnout, and Sali Berisha resigned as president on July 24, 1997.

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973382Mon, 07 Sep 2026 16:10:19 +0000OBOMEDIA ENTERTAINMENTThe check that financed the party and ignited a country A shoe factory worker's investment scheme was paying depositors one hundred percent interest, and half a country's economy was riding on it. Then, in a single week in January 1997, more than a...
A shoe factory worker's investment scheme was paying depositors one hundred percent interest, and half a country's economy was riding on it. Then, in a single week in January 1997, more than a dozen firms stopped paying at once, and a $550,000 check tied to a ruling political party surfaced in the record. What happens when a government that controls every institution in the country simply chooses to say nothing?

In this episode, we trace Albania's collapse from the warnings the IMF issued in 1995 through the pyramid schemes' failure, the armed uprising, and the international intervention that followed, asking what happens to a society when no institution is left capable of telling the truth.

Person: Sali Berisha
Location: Vlorë, Albania
Date: January 1997
Case: the pyramid investment schemes and their collapse
Status: government resignation, foreign intervention, and elections after months of armed unrest

- A check for $550,000 left the accounts of the firm Gjallica for the Socialist Party of Albania on January 7, 1997; Gjallica declared bankruptcy on February 4, 1997.
- By the end of 1996, pyramid scheme liabilities were estimated at more than one billion dollars, nearly half of Albania's GDP.
- On February 28, 1997, rebels attacked the SHIK intelligence headquarters in Vlorë, killing nine people, six of them intelligence officers.
- The UN Security Council authorized Operation Alba on March 28, 1997; roughly seven thousand troops from Italy, Greece, Romania, Turkey, Austria, France, and other countries deployed starting April 15.
- On June 29, 1997, the Socialist Party won 100 of 151 parliamentary seats with 72.6 percent turnout, and Sali Berisha resigned as president on July 24, 1997.

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1146falsefullhttps://www.spreaker.com/episode/the-lawsuit-that-clawed-back-7-2-billion-from-a-widow-s-palm-beach-pool--74973380
On October 25, 2009, sixty-seven-year-old Jeffry Picower was found dead at the bottom of his swimming pool in Palm Beach, Florida — fourteen months before his widow would sign the largest single forfeiture in American judicial history. His accounts at Bernard Madoff's firm had, in some years, returned gains of three hundred percent, a number no legitimate market could explain. What happened between that pool and that signature is a story of lawsuits, feeder funds, and a bank that admitted knowing something was wrong years before it acted?

In this episode, we trace how court-appointed trustee Irving Picard turned the wreckage of the largest Ponzi scheme in American history into a decade-long campaign of litigation, asking how much of a $65 billion fraud survives because the people around it chose not to look.

Person: Jeffry Picower and Barbara Picower
Location: Palm Beach, Florida
Date: October 25, 2009
Case: the $7.2 billion settlement from Jeffry Picower's estate
Status: settled in December 2010, the largest single forfeiture in American judicial history

- Madoff's Ponzi scheme collapsed in December 2008, leaving a gap of $43.7 billion between what investors believed they owned and what could be recovered
- Trustee Irving Picard told a creditors' meeting in February 2009 that his investigation found no evidence of securities purchased for customers in at least thirteen years
- Picard filed a $5 billion lawsuit against Jeffry Picower on May 12, 2009; his lawyers called it "a paradigm of excess" before his death that October
- JPMorgan Chase had told the UK's Serious Organised Crime Agency in

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973380Mon, 07 Sep 2026 16:10:15 +0000OBOMEDIA ENTERTAINMENTThe lawsuit that clawed back $7.2 billion from a widow's Palm Beach pool On October 25, 2009, sixty-seven-year-old Jeffry Picower was found dead at the bottom of his swimming pool in Palm Beach, Florida — fourteen months before his widow would sign...
On October 25, 2009, sixty-seven-year-old Jeffry Picower was found dead at the bottom of his swimming pool in Palm Beach, Florida — fourteen months before his widow would sign the largest single forfeiture in American judicial history. His accounts at Bernard Madoff's firm had, in some years, returned gains of three hundred percent, a number no legitimate market could explain. What happened between that pool and that signature is a story of lawsuits, feeder funds, and a bank that admitted knowing something was wrong years before it acted?

In this episode, we trace how court-appointed trustee Irving Picard turned the wreckage of the largest Ponzi scheme in American history into a decade-long campaign of litigation, asking how much of a $65 billion fraud survives because the people around it chose not to look.

Person: Jeffry Picower and Barbara Picower
Location: Palm Beach, Florida
Date: October 25, 2009
Case: the $7.2 billion settlement from Jeffry Picower's estate
Status: settled in December 2010, the largest single forfeiture in American judicial history

- Madoff's Ponzi scheme collapsed in December 2008, leaving a gap of $43.7 billion between what investors believed they owned and what could be recovered
- Trustee Irving Picard told a creditors' meeting in February 2009 that his investigation found no evidence of securities purchased for customers in at least thirteen years
- Picard filed a $5 billion lawsuit against Jeffry Picower on May 12, 2009; his lawyers called it "a paradigm of excess" before his death that October
- JPMorgan Chase had told the UK's Serious Organised Crime Agency in

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1079falsefullhttps://www.spreaker.com/episode/the-forged-cheque-signature-that-let-her-walk-away-and-build-a-30m-fraud--74973378
A shoe washes up on a beach on the southern New South Wales coast, five hundred kilometres from a front door in Sydney. Inside it, a decomposed human foot, later DNA-matched to a woman who vanished three months earlier the same morning investigators raided her house. There is no body, no note, no confirmed sighting — only that shoe, and a question the coroner could never close: what actually happened in the hours before dawn?

In this episode, we trace Melissa Caddick's path from a forged signature on a handful of cheques to a decade-long, thirty-million-dollar investment fraud that fooled her own parents, asking how a woman with no real qualifications and no license built and sustained a scheme that fell apart in a single morning.

Person: Melissa Caddick
Location: Dover Heights, Sydney, and Bournda Beach, New South Wales
Date: November 12, 2020
Case: a thirty-million-dollar investment fraud run through fabricated account statements
Status: declared deceased by coroner in May 2023, manner of death undetermined

- Her first recorded offense was forging her boss's signature on cheques at a Sydney investment bank, taking less than $2,000; the firm let her resign rather than involve police
- She operated through 37 separate bank accounts between October 2012 and November 2020, funneling client funds while issuing fabricated CommSec portfolio statements
- A November 2021 court judgment found she ran the scheme through her company Maliver without a required financial services license for the full eight years
- Her parents alone transferred $1,030,000 to her, believing it secured them an apartment and life tenancy in Edgecliff; they later filed a Federal Court statement calling it fraud
- Seventy-two clients claimed more than $23 million owed; the eventual house sale and auction of her belongings recovered $9.8 million and $860,000 respectively

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973378Mon, 07 Sep 2026 16:10:11 +0000OBOMEDIA ENTERTAINMENTThe forged cheque signature that let her walk away and build a $30M fraud A shoe washes up on a beach on the southern New South Wales coast, five hundred kilometres from a front door in Sydney. Inside it, a decomposed human foot, later DNA-matched...
A shoe washes up on a beach on the southern New South Wales coast, five hundred kilometres from a front door in Sydney. Inside it, a decomposed human foot, later DNA-matched to a woman who vanished three months earlier the same morning investigators raided her house. There is no body, no note, no confirmed sighting — only that shoe, and a question the coroner could never close: what actually happened in the hours before dawn?

In this episode, we trace Melissa Caddick's path from a forged signature on a handful of cheques to a decade-long, thirty-million-dollar investment fraud that fooled her own parents, asking how a woman with no real qualifications and no license built and sustained a scheme that fell apart in a single morning.

Person: Melissa Caddick
Location: Dover Heights, Sydney, and Bournda Beach, New South Wales
Date: November 12, 2020
Case: a thirty-million-dollar investment fraud run through fabricated account statements
Status: declared deceased by coroner in May 2023, manner of death undetermined

- Her first recorded offense was forging her boss's signature on cheques at a Sydney investment bank, taking less than $2,000; the firm let her resign rather than involve police
- She operated through 37 separate bank accounts between October 2012 and November 2020, funneling client funds while issuing fabricated CommSec portfolio statements
- A November 2021 court judgment found she ran the scheme through her company Maliver without a required financial services license for the full eight years
- Her parents alone transferred $1,030,000 to her, believing it secured them an apartment and life tenancy in Edgecliff; they later filed a Federal Court statement calling it fraud
- Seventy-two clients claimed more than $23 million owed; the eventual house sale and auction of her belongings recovered $9.8 million and $860,000 respectively

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1020falsefullhttps://www.spreaker.com/episode/the-email-that-promised-cover-and-triggered-a-billion-dollar-collapse--74973374
On a Sunday morning in March 2008, an email lands describing a $116 million hole in a single client's account, and the reply that comes back contains four words prosecutors will later read aloud in a criminal court: "one for all for one." Behind that exchange sits a paper architecture built share by share, account by account, inside a stockbroking firm that looked like a functioning business until the morning it wasn't. Who inside Opes Prime Group understood exactly what they were building, and when?

In this episode, we trace the five-year construction of Opes Prime Group's collapse, from a single 2006 share transfer through the boardroom warnings that went unheeded to the courtroom verdicts that followed, asking how three men who understood securities lending better than almost anyone let a system of their own design compound until it broke.

Person: Julian Smith, Laurie Emini, Anthony Blumberg
Location: Melbourne, Australia
Date: March 27, 2008
Case: the receivership of Opes Prime Group Limited
Status: liquidated, with creditors receiving 37 cents per dollar owed

- On June 27, 2006, Laurie Emini used $17.4 million worth of Norm Seckold's pledged shares to support the margin position of Riqueza Holdings, a Singapore-domiciled entity tied to the firm's three directors
- By early March 2008, $95 million of Seckold's holding in Coeur d'Alene Mines had passed through Riqueza and sat with ANZ Bank as collateral
- Opes Prime entered receivership on March 27, 2008, with secured debt exceeding $1 billion Australian dollars, including $650 million owed to ANZ Bank
- Justice David Beach sentenced Emini to two years' jail and Blumberg to one year on July 27, 2011, after both pleaded guilty; Julian Smith was found not guilty on September 6, 2013
- Liquidators, aided by Blumberg's cooperation, recovered $226 million from ANZ Bank and Merrill Lynch, and the court approved a scheme of arrangement on August 4, 2009, paying creditors 37 cents per dollar

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973374Mon, 07 Sep 2026 16:10:07 +0000OBOMEDIA ENTERTAINMENTThe Email That Promised Cover—and Triggered a Billion‑Dollar Collapse On a Sunday morning in March 2008, an email lands describing a $116 million hole in a single client's account, and the reply that comes back contains four words prosecutors will...
On a Sunday morning in March 2008, an email lands describing a $116 million hole in a single client's account, and the reply that comes back contains four words prosecutors will later read aloud in a criminal court: "one for all for one." Behind that exchange sits a paper architecture built share by share, account by account, inside a stockbroking firm that looked like a functioning business until the morning it wasn't. Who inside Opes Prime Group understood exactly what they were building, and when?

In this episode, we trace the five-year construction of Opes Prime Group's collapse, from a single 2006 share transfer through the boardroom warnings that went unheeded to the courtroom verdicts that followed, asking how three men who understood securities lending better than almost anyone let a system of their own design compound until it broke.

Person: Julian Smith, Laurie Emini, Anthony Blumberg
Location: Melbourne, Australia
Date: March 27, 2008
Case: the receivership of Opes Prime Group Limited
Status: liquidated, with creditors receiving 37 cents per dollar owed

- On June 27, 2006, Laurie Emini used $17.4 million worth of Norm Seckold's pledged shares to support the margin position of Riqueza Holdings, a Singapore-domiciled entity tied to the firm's three directors
- By early March 2008, $95 million of Seckold's holding in Coeur d'Alene Mines had passed through Riqueza and sat with ANZ Bank as collateral
- Opes Prime entered receivership on March 27, 2008, with secured debt exceeding $1 billion Australian dollars, including $650 million owed to ANZ Bank
- Justice David Beach sentenced Emini to two years' jail and Blumberg to one year on July 27, 2011, after both pleaded guilty; Julian Smith was found not guilty on September 6, 2013
- Liquidators, aided by Blumberg's cooperation, recovered $226 million from ANZ Bank and Merrill Lynch, and the court approved a scheme of arrangement on August 4, 2009, paying creditors 37 cents per dollar

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1139falsefullhttps://www.spreaker.com/episode/the-men-who-pinned-hundred-dollar-bills-to-their-lapels-drew-crowds-that-paid-to-join--74973370
A man walks onstage with a hundred-dollar bill pinned to his lapel, sometimes a thousand-dollar bill, and the crowd watching him reaches for their checkbooks. Five thousand dollars buys the right to stand on that same stage someday and do the same thing. What happens when everyone in the room is selling and no one is left to buy?

In this episode, we trace Glenn Wesley's rise from a South Carolina tobacco farm to a three-hundred-million-dollar motivational empire, asking how a rags-to-riches biography became the product itself — and what happened when the recruiting pool ran dry.

Person: Glenn Wesley Wesley
Location: Lake Maitland and Bear Gulley Lake, near Orlando, Florida
Date: August 1967 (founding of Koscot Interplanetary, Inc.)
Case: the multi-level distributorship scheme built through Koscot Interplanetary and Dare to Be Great
Status: collapsed under lawsuits and federal charges; Wesley later imprisoned; the unfinished castle still stands on Bear Gulley Lake

- Koscot Interplanetary, Inc. was founded in August 1967; Dare to Be Great followed in 1969
- At its peak the network employed an estimated 60,000 people across 40 states and Canada, with around 500,000 participants
- Distributorships cost $5,000, supervisorships $2,000, and directorships $5,400
- In 1971 the FTC sued Koscot for restraint of trade; in 1972 Wesley faced 86 counts of selling unregistered securities
- F. Lee Bailey was indicted alongside Wesley in 1973 in a Pittsburgh mail fraud case that ended in a hung jury
- More than 1,000 lawsuits were consolidated into a class action seeking over $900 million
- After bankruptcy, accountants found Koscot had generated $169 million in revenue while owing $33 million to creditors
- The FTC's ruling in the Koscot matter became a lasting legal standard still cited to distinguish legal multi-level marketing from illegal pyramid schemes

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973370Mon, 07 Sep 2026 16:10:03 +0000OBOMEDIA ENTERTAINMENTThe men who pinned hundred‑dollar bills to their lapels drew crowds that paid to join A man walks onstage with a hundred-dollar bill pinned to his lapel, sometimes a thousand-dollar bill, and the crowd watching him reaches for their checkbooks....
A man walks onstage with a hundred-dollar bill pinned to his lapel, sometimes a thousand-dollar bill, and the crowd watching him reaches for their checkbooks. Five thousand dollars buys the right to stand on that same stage someday and do the same thing. What happens when everyone in the room is selling and no one is left to buy?

In this episode, we trace Glenn Wesley's rise from a South Carolina tobacco farm to a three-hundred-million-dollar motivational empire, asking how a rags-to-riches biography became the product itself — and what happened when the recruiting pool ran dry.

Person: Glenn Wesley Wesley
Location: Lake Maitland and Bear Gulley Lake, near Orlando, Florida
Date: August 1967 (founding of Koscot Interplanetary, Inc.)
Case: the multi-level distributorship scheme built through Koscot Interplanetary and Dare to Be Great
Status: collapsed under lawsuits and federal charges; Wesley later imprisoned; the unfinished castle still stands on Bear Gulley Lake

- Koscot Interplanetary, Inc. was founded in August 1967; Dare to Be Great followed in 1969
- At its peak the network employed an estimated 60,000 people across 40 states and Canada, with around 500,000 participants
- Distributorships cost $5,000, supervisorships $2,000, and directorships $5,400
- In 1971 the FTC sued Koscot for restraint of trade; in 1972 Wesley faced 86 counts of selling unregistered securities
- F. Lee Bailey was indicted alongside Wesley in 1973 in a Pittsburgh mail fraud case that ended in a hung jury
- More than 1,000 lawsuits were consolidated into a class action seeking over $900 million
- After bankruptcy, accountants found Koscot had generated $169 million in revenue while owing $33 million to creditors
- The FTC's ruling in the Koscot matter became a lasting legal standard still cited to distinguish legal multi-level marketing from illegal pyramid schemes

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>822falsefullhttps://www.spreaker.com/episode/the-mailbox-that-posed-as-a-building-sold-zzzz-best-fifteen-million-dollars--74973368
An accountant drives out to the San Fernando Valley in 1986 to check an address on a company report. He finds a mailbox — not a building, not a repair crew, nothing under construction. That mailbox, along with a handful of others scattered across the valley, was the entire physical reality behind a division reporting eighty-six percent of a public company's revenue. How does an empty address hold up a two-hundred-eighty-million-dollar valuation?

In this episode, we trace how a teenage carpet-cleaning business became a publicly traded fraud, and how its founder rebuilt his credibility twice more after prison, asking what it takes for banks, auditors, journalists, and a congregation to keep believing a story that was never true.

Person: Barry Minkow
Location: San Fernando Valley, California
Date: 1986
Case: the fabricated insurance restoration division behind ZZZZ Best's public offering
Status: convicted on all charges, sentenced to 25 years, with restitution obligations across his later crimes reaching $612 million

- Minkow founded ZZZZ Best at sixteen out of his parents' garage, with three employees and four phones
- Claims adjuster Tom Padgett helped forge documents for a fake insurance restoration division verified through a company called Interstate Appraisal Services
- ZZZZ Best went public on NASDAQ in January 1986 and was valued at $280 million after the offering
- Judge Dickran Tevrizian sentenced Minkow to 25 years in prison on March 27, 1989, and ordered $26 million in restitution
- After his release, Minkow founded the Fraud Discovery Institute and appeared on CBS's

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973368Mon, 07 Sep 2026 16:10:01 +0000OBOMEDIA ENTERTAINMENTThe mailbox that posed as a building sold ZZZZ Best fifteen million dollars An accountant drives out to the San Fernando Valley in 1986 to check an address on a company report. He finds a mailbox — not a building, not a repair crew, nothing under...
An accountant drives out to the San Fernando Valley in 1986 to check an address on a company report. He finds a mailbox — not a building, not a repair crew, nothing under construction. That mailbox, along with a handful of others scattered across the valley, was the entire physical reality behind a division reporting eighty-six percent of a public company's revenue. How does an empty address hold up a two-hundred-eighty-million-dollar valuation?

In this episode, we trace how a teenage carpet-cleaning business became a publicly traded fraud, and how its founder rebuilt his credibility twice more after prison, asking what it takes for banks, auditors, journalists, and a congregation to keep believing a story that was never true.

Person: Barry Minkow
Location: San Fernando Valley, California
Date: 1986
Case: the fabricated insurance restoration division behind ZZZZ Best's public offering
Status: convicted on all charges, sentenced to 25 years, with restitution obligations across his later crimes reaching $612 million

- Minkow founded ZZZZ Best at sixteen out of his parents' garage, with three employees and four phones
- Claims adjuster Tom Padgett helped forge documents for a fake insurance restoration division verified through a company called Interstate Appraisal Services
- ZZZZ Best went public on NASDAQ in January 1986 and was valued at $280 million after the offering
- Judge Dickran Tevrizian sentenced Minkow to 25 years in prison on March 27, 1989, and ordered $26 million in restitution
- After his release, Minkow founded the Fraud Discovery Institute and appeared on CBS's

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1186falsefullhttps://www.spreaker.com/episode/the-tv-ad-manlion-who-sold-three-thousand-percent-returns-and-filled-the-rooms-with-cash--74973366
By the spring of 1994, several rooms inside an ordinary Moscow office building had become impassable — not from furniture or construction, but from stacks of cash so dense the rooms simply could not hold any more. Between five and ten million people had put their money into the company that filled those rooms, and contemporary reports at the time suggested many of them already suspected it was a fraud. So why did they hand over their savings anyway?

In this episode, we trace how a Soviet-era computer import cooperative became one of the largest financial frauds in modern history, and how its founder turned a collapsed scheme into a seat in Russia's parliament, asking how a country convinced itself to walk into a lie with its eyes open.

Person: Sergei Mavrodi
Location: Moscow, Russia
Date: 1994
Case: the MMM Ponzi scheme and its television advertising campaign
Status: convicted of fraud in 2007, served most of his sentence in pretrial detention, later relaunched the scheme abroad before dying in 2018

- MMM was founded in 1989 by Sergei Mavrodi, his brother Vyacheslav, and Olga Melnikova, originally as a computer import business
- In March 1994 alone, the company spent 330 million rubles on television advertising, promising annual returns of up to 3,000 percent
- On July 22, 1994, the Ministry of Finance declared MMM's securities illegally issued and unregistered, and the company stopped operating within a day
- MMM's share price fell from 115,000 rubles to 1,000 rubles, with estimated investor debt ranging between 100 billion and 3 trillion rubles
- Mavr

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973366Mon, 07 Sep 2026 16:09:55 +0000OBOMEDIA ENTERTAINMENTThe TV ad manlion who sold three‑thousand‑percent returns and filled the rooms with cash By the spring of 1994, several rooms inside an ordinary Moscow office building had become impassable — not from furniture or construction, but from stacks of...
By the spring of 1994, several rooms inside an ordinary Moscow office building had become impassable — not from furniture or construction, but from stacks of cash so dense the rooms simply could not hold any more. Between five and ten million people had put their money into the company that filled those rooms, and contemporary reports at the time suggested many of them already suspected it was a fraud. So why did they hand over their savings anyway?

In this episode, we trace how a Soviet-era computer import cooperative became one of the largest financial frauds in modern history, and how its founder turned a collapsed scheme into a seat in Russia's parliament, asking how a country convinced itself to walk into a lie with its eyes open.

Person: Sergei Mavrodi
Location: Moscow, Russia
Date: 1994
Case: the MMM Ponzi scheme and its television advertising campaign
Status: convicted of fraud in 2007, served most of his sentence in pretrial detention, later relaunched the scheme abroad before dying in 2018

- MMM was founded in 1989 by Sergei Mavrodi, his brother Vyacheslav, and Olga Melnikova, originally as a computer import business
- In March 1994 alone, the company spent 330 million rubles on television advertising, promising annual returns of up to 3,000 percent
- On July 22, 1994, the Ministry of Finance declared MMM's securities illegally issued and unregistered, and the company stopped operating within a day
- MMM's share price fell from 115,000 rubles to 1,000 rubles, with estimated investor debt ranging between 100 billion and 3 trillion rubles
- Mavr

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>944falsefullhttps://www.spreaker.com/episode/the-village-crowd-broke-the-depot-and-blew-twenty-two-dead--74973364
A crowd of villagers walks to the edge of their own community, breaks open an unguarded arms depot, and within seconds twenty-two of them are dead — most from the same family. Nobody had been guarding that depot for weeks. The question is how an ordinary Balkan village came to have an army arsenal sitting at its edge with no one watching it at all.

In this episode, we trace Albania's 1997 collapse from the first fraudulent investment schemes of the early 1990s through the looting of state armories and the arrival of a UN-authorized foreign force, asking how a financial fraud scaled into a nationwide armed collapse that left roughly two thousand people dead.

Person: villagers of Selitë, near Burrel
Location: Albania (Selitë, Vlorë, Lushnjë, Tirana)
Date: April 29, 1997
Case: the explosion at the Selitë arms depot
Status: twenty-two dead, most from one family, amid a nationwide collapse of state authority

- Pyramid schemes including Sudja (run by Maksude Kadëna, offering 100 percent interest) and Xhaferri accumulated liabilities exceeding one billion US dollars, close to half of Albania's GDP, by the end of 1996
- On January 24, 1997, an unarmed crowd in Lushnjë overwhelmed police and burned the city hall and adjoining cinema within an hour
- The "opening of the depots" saw an estimated 656,000 weapons, 1.5 billion rounds of ammunition, 3.5 million hand grenades, and 1 million land mines leave state stockpiles
- Local Salvation Committees and gangs, including groups led by Albert Shyti and a strongman known as Zani, effectively governed Vlorë, with the city functioning only between 10 a.m. and 1 p.m.
- Operation Alba, a UN-authorized multinational force of roughly 7,000 soldiers, began landing at Durrës on April 15, 1997, and withdrew on August 11, 1997

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973364Mon, 07 Sep 2026 16:09:50 +0000OBOMEDIA ENTERTAINMENTThe Village Crowd Broke the Depot and Blew Twenty-Two Dead A crowd of villagers walks to the edge of their own community, breaks open an unguarded arms depot, and within seconds twenty-two of them are dead — most from the same family. Nobody had...
A crowd of villagers walks to the edge of their own community, breaks open an unguarded arms depot, and within seconds twenty-two of them are dead — most from the same family. Nobody had been guarding that depot for weeks. The question is how an ordinary Balkan village came to have an army arsenal sitting at its edge with no one watching it at all.

In this episode, we trace Albania's 1997 collapse from the first fraudulent investment schemes of the early 1990s through the looting of state armories and the arrival of a UN-authorized foreign force, asking how a financial fraud scaled into a nationwide armed collapse that left roughly two thousand people dead.

Person: villagers of Selitë, near Burrel
Location: Albania (Selitë, Vlorë, Lushnjë, Tirana)
Date: April 29, 1997
Case: the explosion at the Selitë arms depot
Status: twenty-two dead, most from one family, amid a nationwide collapse of state authority

- Pyramid schemes including Sudja (run by Maksude Kadëna, offering 100 percent interest) and Xhaferri accumulated liabilities exceeding one billion US dollars, close to half of Albania's GDP, by the end of 1996
- On January 24, 1997, an unarmed crowd in Lushnjë overwhelmed police and burned the city hall and adjoining cinema within an hour
- The "opening of the depots" saw an estimated 656,000 weapons, 1.5 billion rounds of ammunition, 3.5 million hand grenades, and 1 million land mines leave state stockpiles
- Local Salvation Committees and gangs, including groups led by Albert Shyti and a strongman known as Zani, effectively governed Vlorë, with the city functioning only between 10 a.m. and 1 p.m.
- Operation Alba, a UN-authorized multinational force of roughly 7,000 soldiers, began landing at Durrës on April 15, 1997, and withdrew on August 11, 1997

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1089falsefullhttps://www.spreaker.com/episode/the-postal-coupon-count-that-blew-open-ponzi-s-scheme--74973359
A pale blue coupon the size of a playing card was supposed to be backing the greatest investment opportunity in Boston history. When a financial journalist finally sat down to count what would be needed to make the promise real, the number he arrived at was so vast it barely fit on a page. Why did a line of investors grow longer the very morning the newspaper published that number?

In this episode, we trace the arc from Carlo Ponzi's arrival in Boston with two dollars and fifty cents to the moment a coupon count exposed the fraud beyond argument, following the earlier Montreal scheme he had watched firsthand and the mechanics of belief that let his operation outrun its own arithmetic. What let a scheme built on almost nothing move so fast through a city full of people who were not stupid?

Person: Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi
Location: Boston, Massachusetts
Date: summer of 1920
Case: the postal reply coupon count showing 160,000,000 needed against 27,000 in existence
Status: convicted of mail fraud, sentenced to five years, later deported to Italy and died in a Rio de Janeiro charity ward with $75 to his name

- Clarence W. Barron, head of Dow Jones and Company, calculated that Ponzi would have needed 160,000,000 international postal reply coupons to back his promised returns, while the U.S. Post Office confirmed only about 27,000 existed worldwide.
- Ponzi arrived in Boston on November 15, 1903, aboard the S.S. Vancouver with $2.50 in cash.
- Working at Banco Zarossi in Montreal in 1907, Ponzi observed the bank paying 6% interest by using new deposits to pay old depositors.
- Between February and June 1920, investments in Ponzi's Securities Exchange Company rose from $5,000 to $2,500,000 in a single month.
- Publicist William McMasters reported to The Boston Post on August 2, 1920, that Ponzi's bookkeeping consisted only of index cards and that he was actually millions of dollars in debt rather than holding the $7,000,000 he claimed.

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>https://api.spreaker.com/episode/74973359Mon, 07 Sep 2026 16:09:47 +0000OBOMEDIA ENTERTAINMENTThe Postal Coupon Count That Blew Open Ponzi's Scheme A pale blue coupon the size of a playing card was supposed to be backing the greatest investment opportunity in Boston history. When a financial journalist finally sat down to count what would...
A pale blue coupon the size of a playing card was supposed to be backing the greatest investment opportunity in Boston history. When a financial journalist finally sat down to count what would be needed to make the promise real, the number he arrived at was so vast it barely fit on a page. Why did a line of investors grow longer the very morning the newspaper published that number?

In this episode, we trace the arc from Carlo Ponzi's arrival in Boston with two dollars and fifty cents to the moment a coupon count exposed the fraud beyond argument, following the earlier Montreal scheme he had watched firsthand and the mechanics of belief that let his operation outrun its own arithmetic. What let a scheme built on almost nothing move so fast through a city full of people who were not stupid?

Person: Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi
Location: Boston, Massachusetts
Date: summer of 1920
Case: the postal reply coupon count showing 160,000,000 needed against 27,000 in existence
Status: convicted of mail fraud, sentenced to five years, later deported to Italy and died in a Rio de Janeiro charity ward with $75 to his name

- Clarence W. Barron, head of Dow Jones and Company, calculated that Ponzi would have needed 160,000,000 international postal reply coupons to back his promised returns, while the U.S. Post Office confirmed only about 27,000 existed worldwide.
- Ponzi arrived in Boston on November 15, 1903, aboard the S.S. Vancouver with $2.50 in cash.
- Working at Banco Zarossi in Montreal in 1907, Ponzi observed the bank paying 6% interest by using new deposits to pay old depositors.
- Between February and June 1920, investments in Ponzi's Securities Exchange Company rose from $5,000 to $2,500,000 in a single month.
- Publicist William McMasters reported to The Boston Post on August 2, 1920, that Ponzi's bookkeeping consisted only of index cards and that he was actually millions of dollars in debt rather than holding the $7,000,000 he claimed.

To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com.

© 2026 OBOMEDIA. All rights reserved.
This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: business@obomedia.com.]]>1119falsefull