How Sam Bankman-Fried Lost $32 Billion in Customer Funds in Just 72 Hours
FTX collapsed in under 72 hours after $8 billion in customer funds were secretly transferred to Alameda Research. Here’s the full inside story of how it happened.
Financial Scandals
Deep dives into the biggest financial scandals in modern history.
How the Abraaj Group Stole Millions From a Fund Built to Fight Poverty
Abraaj raised $14 billion marketing itself as ethical private equity. Here’s how its founder secretly diverted funds meant for healthcare in the developing world — and how it all unraveled.
Wells Fargo Fake Accounts: How a Culture of Fear Created 3.5 Million Unauthorized Accounts
Wells Fargo employees opened accounts customers never asked for to hit impossible sales targets. Here’s how the bank’s toxic culture created one of America’s biggest banking scandals.
The AIG Bailout: How Derivatives in a London Office Nearly Collapsed the Global Economy
AIG’s London office wrote $440 billion in credit default swaps with no capital backing. When markets turned, the US government spent $185 billion to bail it out.
How Valeant Pharmaceuticals Bought Drug Companies, Hiked Prices 500%, and Called It Business
Valeant didn’t develop drugs — it bought them and immediately raised prices up to 500%. Here’s how a $90 billion pharma company turned price-gouging into a business model.
The CEO Who Billed a $6,000 Shower Curtain to Shareholders: The Full Tyco Story
Tyco CEO Dennis Kozlowski used company funds for a $6,000 shower curtain, a $2 million birthday party, and $400 million in unauthorized pay from shareholders.
The $65 Billion Lie: How Bernie Madoff Fooled Wall Street, Banks, and the SEC for 17 Years
The largest Ponzi scheme in history ran inside a legitimate brokerage for 17 years. Bernie Madoff fooled every major bank and passed multiple SEC inspections.
The $11 Billion WorldCom Accounting Fraud: How It Was Hidden in Plain Sight
WorldCom’s CFO reclassified $3.8 billion in operating expenses as capital expenditures to inflate profits. Here’s exactly how the accounting fraud was constructed and exposed.
Volkswagen Dieselgate: How VW Programmed 11 Million Cars to Lie About Emissions
VW installed defeat device software in 11 million cars that passed emissions tests in labs but polluted 40x the legal limit on roads. Here’s the full Dieselgate story.
How Boeing’s 737 MAX Software Killed 346 People in Two Preventable Crashes
Boeing’s MCAS anti-stall system was inadequately tested and pilots weren’t trained on it. When it failed in two crashes, 346 people died. Here’s the full story.