Economist Podcasts Trailer: Scam Inc
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Jan 30, 2025 Dive into the murky waters of a burgeoning scam economy that rivals the illicit drug trade. Uncover the shocking banking scandal where $47 million vanished in a small Kansas town due to reckless cryptocurrency maneuvers. Explore the global reach of scams, highlighting the grim realities of human trafficking and corruption. This riveting journey reveals the complexities of modern financial fraud and raises critical questions about trust and financial stability in today's world.
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Kansas Bank Collapse
- $47 million went missing from a small-town Kansas bank after the CEO made a bad cryptocurrency investment.
- The CEO, Shane Haynes, had been scammed, leading to the bank's collapse.
Sophisticated Scam Industry
- This scam was not a typical Nigerian Prince con but something more sophisticated and ruthless.
- It involves a global industry, bigger than the illegal drug trade, built on forced labor, corruption, and intrigue.
Forced Labor and Slogans
- The criminal underworld includes forced labor where people are held captive and exploited.
- Captives describe being forced to chant slogans like 'Kripo the US and the European economy'.