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007Crime Facts
The Ignored Warning
“A whistleblower told the government about the biggest fraud in history. They ignored him.”
Case #007
A WHISTLEBLOWER
TOLD THE
A Wall Street financier ran the largest Ponzi scheme ever recorded — $65 billion in fabricated returns, sustained over decades. Thousands of investors lost everything when it collapsed in 2008.
“A whistleblower told the government about the biggest fraud in history. They ignored him.”
The Turn
A financial analyst had submitted a detailed report to regulators three years before the collapse. He laid out mathematically why the returns were impossible. The regulators did nothing. The report sat in a filing cabinet the entire time.