DarkHorse Podcast Exposing Financial Fraud: Forensic Accountant & Whistleblower John McPherson on DarkHorse
Jan 26, 2025
John McPherson, a forensic accountant and whistleblower, sheds light on the alarming state of financial fraud today. He discusses the mechanics of Ponzi schemes, spotlighting the infamous Madoff case and the risks of another market crisis. McPherson highlights the plight of elderly victims in fraudulent investment schemes and critiques the exploitative practices of for-profit colleges. He delves into the systemic failures of financial assistance programs and the damaging 'too big to fail' mentality that fosters corporate irresponsibility.
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Life Partners Ponzi Scheme
- John McPherson discovered a potential Ponzi scheme involving life insurance policies.
- The company used artificially low life expectancies to inflate fees, risking policy lapses.
Intimidation Tactics in Investigations
- Financial investigations often involve intimidation tactics rather than truth-seeking.
- These tactics protect fraud and endanger whistleblowers.
Successful SEC Intervention
- The SEC effectively investigated and recovered over $1 billion for defrauded investors.
- This success contrasts sharply with the initial attempts to cover up the fraud.