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fraud

6 thinkers, books, and ideas connected to this field.

Thinker

Billy McFarland

American entrepreneur and convicted fraudster who organized Fyre Festival in 2017 — the disastrously fraudulent luxury music festival in the Bahamas — which became a case study in influencer-driven marketing, entrepreneurial fraud, and the gap between brand promise and reality.

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Thinker

Charles Ponzi

Italian-American fraudster who defrauded investors in Boston in 1919–1920 by promising 50% returns in 90 days through international postal reply coupon arbitrage — which was impossible at scale — creating the scheme that now bears his name.

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Institution

Fyre Festival

The 2017 fraudulent luxury music festival in the Bahamas organized by Billy McFarland and Ja Rule — which collapsed catastrophically on its opening day, stranding thousands of ticket holders without food, accommodation, or performances — and which generated two major documentaries.

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Institution

HealthSouth

American rehabilitation hospital chain founded by Richard Scrushy in 1984 — which became the largest US provider of rehabilitation services — before a massive accounting fraud scandal in 2003 revealed that Scrushy had orchestrated a $2.7B fraud.

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Thinker

Ivar Kreuger

Swedish entrepreneur who built the world's largest match monopoly — controlling two-thirds of global match production — and who financed his empire through fraudulent bonds sold to American investors, creating history's most sophisticated financial fraud before dying (suicide or murder) in 1932 as the scheme collapsed.

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Book

The Match King

Frank Partnoy's 2009 biography of Ivar Kreuger — tracing his rise from Swedish match factory to global monopolist to the world's most sophisticated fraudster — and his role in inspiring New Deal securities regulation.

financefraudbusiness biography20th century history
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