4 ms·

There are 1.9 billion EUR missing, not sure if the implication is that they were stolen or never existed in the first place. I also can't really think of any po

There are 1.9 billion EUR missing, not sure if the implication is that they were stolen or never existed in the first place. I also can't really think of any possible explanation for this to go so far when the banks in question say that the account never existed at all. It doesn't seem believable that anyone seriously investigated the potential fraud in the last months or years, and the scandal has been public for a while now.

jansan 6y ago
You cannot believe how sophisticated fraud can be. There was an amazing fraud scheme in Germany in the 1990s by a company called FlowTex. Their business was selling drilling machines for the oil and gas industry. The amazing part about the fraud was that they sold 3000 drilling machines, but only about 300 actually existed. You would think it should be easy to simply count the existing drilling machines, but they changed the serial number plates and presented the same machines over and over again to investors and auditors. Just unbelievable that this worked for a few years.
- mtmail 6y ago
  https://en.wikipedia.org/wiki/FlowTex https://en.wikipedia.org/wiki/FlowTex Saw a documentary with the founder the other day, served 7 of a 12 year prison sentence.
  - tibbydudeza 6y ago
    Interesting here is a documentary on this https://www.youtube.com/watch?v=fQ5m0Gv-xKM https://www.youtube.com/watch?v=fQ5m0Gv-xKM
  - netsharc 6y ago
    It makes me wonder if a life of white collar crime is worth it... Before MEGA, Kim Dotcom was someone who took investor money and spent it lavishly (his website had a lot of photos of luxury cars, villas and parties), skimming his Wikipedia, it says he only got a suspended sentences from the German courts...