The Bre X Fraud

Author : Douglas Goold
Publisher : M&S
ISBN 13 : 9780771033346
Total Pages : 0 pages
Book Rating : 4.46/5 ( download)

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Download or read book The Bre-X Fraud written by Douglas Goold and published by M&S. This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The history books will add the Bre-X saga to other legendary frauds like the South Sea Bubble. When the Bre-X bubble burst, the stock that had soared from fifty cents in 1994 to the equivalent of $286 in 1996 was worth nine cents in May 1997, before trading halted forever. And the Busang deposit, supposedly as much as 200 million ounces of gold, worth about $70 billion U.S. - the biggest gold find in history - was actually the century's biggest fraud. How did this happen, right under the noses of the financial world? In this book the experienced investigative team from "The Globe and Mail's Report on Business that broke the story of Bre-X's troubles has combined forces to answer that question. With literally hundreds of Bre-X interviews behind them, and drawing on resources from several continents, they have been able to explain the twists and turns of this complex tale. The result is a fascinating true story that reads like the wildest fiction.

Author : Jennifer Wells
Publisher : Texere Publishing
ISBN 13 : 9780752813790
Total Pages : 404 pages
Book Rating : 4.9X/5 ( download)

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Download or read book Bre-X written by Jennifer Wells and published by Texere Publishing. This book was released on 1998 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: It was hailed as the biggest gold discovery this century, worth more than u15 billion, but it turned out to be a big mining scandal. This is an account of how, in 1995, Bre-X Minerals, a small Canadian mining company, shot to world fame and fortune after announcing the discovery of 71 million ounces of gold at the Busang site, on the island of Borneo, Indonesia. The value of Bre-X shares soared from $5 to $192.50 within minutes of listing in Toronto in 1996."

Author : Alfred Lenarciak
Publisher : Book Venture Publishing LLC
ISBN 13 : 1946250430
Total Pages : 152 pages
Book Rating : 4.38/5 ( download)

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Download or read book Gold of Bre-X written by Alfred Lenarciak and published by Book Venture Publishing LLC. This book was released on 2016-11-30 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between 1994 and 1997, Canadian company Bre-X Minerals, sponsored and promoted to listings on the TSX and NASDAQ by JPMorgan, Lehman, BMO, and others, was exploring for gold on the Busang property on the Indonesian island of Borneo. Bre-X’s efforts bore the discovery of a lifetime: a mammoth deposit estimated to contain over 200 million ounces of easily extractable gold. The company’s stock exploded from 25 cents to over $270, effectively valuing Bre-X at over $6 billion and attracting the interest of major mining companies. Barrick, Placer Dome, and Freeport McMorran, all the major players at the time, started competing to develop the largest gold deposit ever discovered. In early 1997, Indonesian President Suharto and his government took control of the deposit by force and commissioned Freeport to build a mega mine. In the ensuing months, due diligence revealed that the deposit was a gigantic hoax! There was no gold in Busang. The principals of Bre-X were accused, but never convicted, of salting samples before sending them to labs. Michael de Guzman, a Filipino geologist who served as the project manager, allegedly committed suicide by jumping from a helicopter into the abyss of Borneo’s jungle. Minorca Resources of Toronto were the financial partners of the Haji Sayakarani group of companies that owned Busang; Alfred Lenarciak was the chairman of Minorca at the time. In a strange twist of fate, in February 2012, Alfred had a chance encounter in Rome with a man by the name of Akiro Guzzo, who shared with him an amazing story about the life and death of Michael de Guzman, the creator of a fake gold mega deposit. Is this really a dead man’s story?

Author : Diane Francis
Publisher : Key Porter Books
ISBN 13 : 9781550139136
Total Pages : 0 pages
Book Rating : 4.34/5 ( download)

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Download or read book Bre-X written by Diane Francis and published by Key Porter Books. This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: For 2 years, BRE-X was the darling of the world's stock markets. Millionaires were created over night; until the scam was uncovered.

Author : Vivian Danielson
Publisher :
ISBN 13 :
Total Pages : 312 pages
Book Rating : 4.05/5 ( download)

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Download or read book Bre-X written by Vivian Danielson and published by . This book was released on 1997 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Dan Davies
Publisher : Scribner
ISBN 13 : 1982114932
Total Pages : 304 pages
Book Rating : 4.30/5 ( download)

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Download or read book Lying for Money written by Dan Davies and published by Scribner. This book was released on 2021-03-09 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: An entertaining, deeply informative explanation of how high-level financial crimes work, written by an industry insider who’s an expert in the field. The way most white-collar crime works is by manipulating institutional psychology. That means creating something that looks as much as possible like a normal set of transactions. The drama comes later, when it all unwinds. Financial crime seems horribly complicated, but there are only so many ways you can con someone out of what’s theirs. In Lying for Money, veteran regulatory economist and market analyst Dan Davies tells the story of fraud through a genealogy of financial malfeasance, including: the Great Salad Oil swindle, the Pigeon King International fraud, the fictional British colony of Poyais in South America, the Boston Ladies’ Deposit Company, the Portuguese Banknote Affair, Theranos, and the Bre-X scam. Davies brings new insights into these schemes and shows how all frauds, current and historical, belong to one of four categories (“long firm,” counterfeiting, control fraud, and market crimes) and operate on the same basic principles. The only elements that change are the victims, the scammers, and the terminology. Davies has years of experience picking the bones out of some of the most famous frauds of the modern age. Now he reveals the big picture that emerges from their labyrinths of deceit and explains how fraud has shaped the entire development of the modern world economy.

Author : Rodney T. Stamler
Publisher : CRC Press
ISBN 13 : 146655455X
Total Pages : 316 pages
Book Rating : 4.59/5 ( download)

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Download or read book Fraud Prevention and Detection written by Rodney T. Stamler and published by CRC Press. This book was released on 2014-03-12 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lessons can be learned from major fraud cases. Whether the victim is a company, public agency, nonprofit, foundation, or charity, there is a high likelihood that many of these frauds could have been prevented or detected sooner if early Red Flag warning signs had been identified and acted upon. Fraud Prevention and Detection: Warning Signs and the

Author : Jennifer Wells
Publisher :
ISBN 13 : 9780752813653
Total Pages : 288 pages
Book Rating : 4.5X/5 ( download)

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Download or read book Bre-X written by Jennifer Wells and published by . This book was released on 1998-08 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: It was hailed as the biggest gold discovery in the world this century, worth more than #15 billion, but it turned out to be the greatest mining scandal of all time. This is the astonishing account of the how Bre-X Minerals shot to fame after announcing the discovery of gold on Borneo.

Author : Tom Ajamie
Publisher : Skyhorse
ISBN 13 : 1629149497
Total Pages : 293 pages
Book Rating : 4.93/5 ( download)

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Download or read book Financial Serial Killers written by Tom Ajamie and published by Skyhorse. This book was released on 2014-10-14 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: By using true tales of thieves, swindlers, and fraudsters at work, Financial Serial Killers illustrates how these perpetrators get their hooks into investors' wallets, savings accounts, and portfolios—and never let go. The worst financial crisis since the great depression revealed that thousands of mom and pop investors had lost millions to so-called Mini-Madoffs. They are the thieves and conmen who had used phony financial acumen to steal investors' money, wipe out savings, and damage lives. Financial Serial Killers reveals the cons—from the grand to picayune—advisers cultivate with their victims—relationships that are essential to the fraud. Take the story of Lillian, the little old lady who invested with Warren Buffett, one of the richest men in the world. After her husband died, she thought her family's treasure of $24 million in stock controlled by Buffett was safe. It was—until a family relative introduced the eighty-nine-year-old grandmother to a pair of unscrupulous insurance agents who convinced her to reinvest her savings in life insurance—decimating her nest egg while padding the agents' pockets. Lillian's story, as well as other accounts of deceit and fraud, is the core of Financial Serial Killers. Readers will learn how to better protect their family's wealth and savings after reading this book.

Author : Diane Francis
Publisher : Seal Books
ISBN 13 : 9780770427870
Total Pages : 326 pages
Book Rating : 4.71/5 ( download)

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Download or read book Bre-X written by Diane Francis and published by Seal Books. This book was released on 1998 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: IT SEEMED TOO GOOD TO BE TRUE--IT WAS It was every investor's dream come true. Bre-X Minerals had made an incredible find in Indonesia; the richest gold mine ever! Almost overnight, Bre-X stock soared through the stratosphere. Then came the fall--literally--as the company's chief geologist tumbled to his death from a helicopter over the Borneo jungle. Soon there was even more shocking news. The Bre-X find was one of the biggest hoaxes in financial history. Best-selling author Diane Francis lays bare the details behind this stunning stock swindle. With revealing, all-new material drawn from a global network of business contacts and confidential sources. Francis exposes the glib promises, shady dealings, backroom manoeuverings, and sheer unadulterated greed behind a gigantic scan--a financial disaster that enriched a select few, ruined many, and sent shockwaves through the business community.