Scheme

Michael McLaughlin

Scheme is a podcast about accounting fraud.

Not run-of-the-mill fraud like passing $200 of bad checks, but large-scale frauds involving millions of dollars that ruined people’s lives.

All Episodes

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.

Mar 29

9 min 58 sec

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.

Jan 12

10 min 24 sec

Interpublic was forced to restate its financials back to 1997. Had the company committed ANOTHER fraud, right after the first one?

Dec 2020

11 min 41 sec

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...

Nov 2020

6 min 47 sec

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?

Oct 2020

12 min 8 sec

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.

Sep 2020

10 min 25 sec

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.

Aug 2020

12 min 17 sec

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…

Jul 2020

9 min 58 sec

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. 

Jul 2020

9 min 24 sec

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.

Jul 2020

12 min 14 sec