Episode 16: Yale Med School
Jamie Petrone was in charge of purchasing computer equipment for Yale's school of business. Petrone was making a fortune, until someone noticed she was buying a lot more electronics than the school needed. What was she doing with all those iPads? The feds decided to follow her and find out.
Episode 15: Rollins, Inc.
The largest pest control company in the world, Rollins Inc., was accused of manipulating reserves to boost profits. When Rollins achieved its earnings target by just one penny not once but twice, the SEC smelled a rat.
Episode 14: Contempo
Finding a good controller isn’t easy. You probably don't want someone who embezzled money from their last two employers. “What?!?” you’re probably thinking. "No one would hire someone as controller if they stole millions of dollars from their previous employers.” That’s what I used to think, until I heard the story of Peter Suk Lee.
Episode 13: Puda Coal
Puda Coal raised over $100 million from U.S. investors. But suddenly there was a problem: did Puda actually own the subsidiary Shanxi Coal? Someone claimed Puda’s board chair had secretly transferred the subsidiary to himself. Had Puda’s subsidiary literally been stolen?
Episode 12: Boom Global Media
One of the most difficult things about starting a business is getting clients. You need to work hard to get customers to say “yes”. But what if you didn’t have to get customers to say “yes”? What if you just sent them a bill? “Don’t be ridiculous,” you’re probably thinking, “companies aren’t going to pay you just because you send them a bill." But hold that thought, as I’ve got a story to tell.
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.
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Why am I giving all this away?!?
Because education changed my life.
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.