

Whistleblower on the 28th Floor
10 snips Apr 30, 2021
Delve into the gripping tale of Ray Dirks, who exposed a colossal corporate fraud, only to face the Supreme Court. Explore the moral conflicts faced by whistleblowers against a backdrop of corporate corruption. Discover the struggles of a quality assurance manager revealing danger in pharmaceutical practices and a banking whistleblower tackling money laundering. Uncover why society is often suspicious of those who speak out and discuss the potential incentives that could foster a safer environment for truth-tellers.
AI Snips
Chapters
Books
Transcript
Episode notes
Equity Funding Fraud
- Ray Dirks, an insurance analyst, uncovered a massive fraud at Equity Funding.
- The company fabricated customers and sold their fake life insurance policies.
Whistleblowing Gap
- People often overestimate their willingness to whistleblow in hypothetical scenarios.
- A study revealed a significant gap between intent and action in real-life situations.
The Mechanics of Fraud
- Equity Funding's fraud involved creating fictitious life insurance customers.
- They sold these fake policies to reinsurance companies in a Ponzi-like scheme.