Wednesday, November 14, 2018
Over the Counter #454
Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood and the World by Tom Wright and Bradley Hope.
From Hachette Books:
"In 2009, with the dust yet to settle on the financial crisis, a mild-mannered Wharton grad set in motion a fraud of unprecedented gall and magnitude–one that would come to symbolize the next great threat to the global financial system. The scandal is known as 1MDB, and the man behind it, Jho Low, is a figure so preposterous he might seem made up.
“An epic tale of white-collar crime on a global scale” (Publishers Weekly, starred review), Billion Dollar Whale reveals how this young social climber pulled off one of the biggest heists in history. Over a half decade, Low siphoned billions from an investment fund–right under the nose of the global financial industry. Low used the money to finance elections, purchase luxury real estate, throw champagne-drenched parties, and even to finance Hollywood films like The Wolf of Wall Street.
Federal agents who helped unravel Bernie Madoff’s Ponzi scheme say the 1MDB affair will become the textbook case of financial fraud in the modern age–and its fallout is already being credited for taking down the prime minister of Malaysia. With his yacht and private jet reportedly seized by authorities and facing money-laundering charges in Malaysia, an Interpol red notice, and an ongoing U.S. Department of Justice Investigation, Low has become an international fugitive.
Billion Dollar Whale will join the ranks of Liar’s Poker, Den of Thieves, and Bad Blood as a classic harrowing parable of the financial world, hubris, and greed."
(Over the Counter is a regular feature at A Bookworm's World. I've sadly come the realization that I cannot physically read every book that catches my interest as it crosses over my counter at the library. But... I can mention them and maybe one of them will catch your eye as well. See if your local library has them on their shelves!)