A Note from James:James Bandolino committed serious financial fraud - started a hedge fund which was a Ponzi scheme - went to jail for nine years, and we really dive into the details of his fraud, the psychology of it. What's critical is that not all frauds have the same flavor - all frauds are bad,  don't get me wrong. It is morally bad to be fraudulent. There's a reason why he went to jail. He wanted to go to jail. He tried to kill himself. It's amazing the story of how he failed to do that. But, before I give too much away we're going to discuss in detail the fraud and then tomorrow I'm going to release the story of him going to jail, what happened there, and how he came out the other side.So,  without further ado, let's dive into the details of the fraud that James Brandolino committed. Episode Description:This episode delves into the life of James Brandolino, a former hedge fund manager who crafted a Ponzi scheme leading to significant financial fraud. Brandolino pleaded guilty to mail fraud in August 2011 and was sentenced to 107 months in prison and ordered to pay $3,865,484 in restitution. It begins with an introduction to Brandolino's fraudulent activities, leading to his nine-year imprisonment. Altucher and Brandolino explore the psychology behind the fraud, emphasizing the gradual and unintentional entry into illegal activities. James Brandolino shares a detailed backstory of his trading career, starting with inspiration from the movie Trading Places and his progression in the financial sector, working at MF Global and creating a futures trading company. Initially, honest intentions led him to a Ponzi scheme when attempts to cover a minor initial loss spiraled out of control. The discussion includes technical aspects of his trading strategies and the choice to commit fraud to escape from admitting failure. In a dramatic turn, James attempts suicide but survives, leading to his voluntary surrender to authorities and incarceration. Episode Summary:00:00 The Intriguing Case of James Brandolino's Financial Fraud01:48 Diving Deep into the Psychology of Fraud02:26 The Early Trading Days and the Birth of a Scheme08:28 The Slippery Slope: From Legitimate Trading to Financial Fraud16:40 The Descent: Amplifying the Fraud and Facing the Consequences20:35 The Personal Toll of Financial Fraud21:18 The Isolation and Stress of Financial Deception24:00 Turning to Criminal Actions for Survival25:25 The High-Risk Attempts to Recover Losses28:05 The Psychological Battle and Trading Strategies36:12 Facing the Consequences and the Brink of Despair40:09 A Failed Suicide Attempt Leads to Redemption ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn