Episode 11: DHB Industries
David Brooks had taken a small company on the verge of bankruptcy and turned it into one of the world’s largest manufacturers of bulletproof vests. Those vests were used by U.S. soldiers, so Brooks was hailed as an American hero. But, problems with the company’s accounting for inventory was just the tip of the iceberg.
Episode 10: Take-Two Interactive Software
Take-Two Interactive was forced to restate its financials 3 times in a span of just 5 years. Each time you thought it was over, Take-Two ended up in the news again. And the company’s founder was right in the middle of it.
Episode 9: Cobalt Family 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.
Episode 8: Interpublic Group
Interpublic was forced to restate its financials back to 1997. Had the company committed ANOTHER fraud, right after the first one?
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...
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?
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.
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.
Episode 3: Electronic Game Card
Electronic Game Card had created an innovative new product. Sales were growing and the company was profitable. But there was something not quite right about the company…
Episode 2: Adelphia Communications
In March of 2002, Adelphia was the 6th largest cable TV provider in the U.S. But then the company made one tiny financial disclosure…and within 3 months it was bankrupt.
Episode 1: Homex
In 2013, Homex was the largest real estate development company in Mexico. But just one year later Homex was bankrupt, and under investigation by the SEC.
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I’m an award-winning university professor who came from humble beginnings. Homeless at the age of seventeen, I dreamed of one day going to college. I was fortunate to achieve my dream, obtaining my PhD from Washington University in St. Louis and becoming a licensed CPA. I’m privileged to have a nice home, plenty of food, and an amazing spouse. Thus, I’ve dedicated my life to making education more accessible and helping others achieve their dreams.