The Biggest Financial Scandal You’ve Never Heard Of!

Award-winning financial crime reporter, New York Times editor, and author David Enrich held our Corporate Directors Forum audience spellbound! In a room of over 200 attendees at the CDF event – in partnership with University of San Diego Law School – Enrich regaled us with insider information on his terrific book The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Financial History.

With unprecedented access to Tom Hayes, the unlikely mastermind behind one of the biggest financial crime scandals ever discovered, Enrich reveals the story about Libor manipulation by some of the world’s largest financial institutions. The Spider Network begins with how math genius and British trader, Hayes, figured out how to change an obscure interest rate in order to benefit his employers – to the tune of hundreds of millions of dollars – in plain sight of his bosses, with an alliance from his team and big bonuses to boot!

Besides being a terrific read, The Spider Network raises a larger question of the culture of dishonesty in powerful financial institutions and the pecking order which tends to throw the little guy under the bus. Hayes maintains that his criminal activity was condoned and encouraged by his superiors and yet, no one else was convicted.

Being an Executive Coach, my question for our Directors and High-Level Leaders is:

“What do you have in place to prevent internal fraud and discover it before it becomes a bestselling novel?”

David Enrich currently serves as the New York Times Finance Editor. He is the former Financial Enterprise Editor at the Wall Street Journal and is the recipient of numerous journalism awards, including the George Polk Award for covering insider trading, and the Overseas Press Club Award in 2012 for coverage of the European Debt Crisis.

His book is available for purchase on Amazon. Follow him on Twitter @davidenrich

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on pinterest
Pinterest
Share on linkedin
LinkedIn

Comments are closed.

On Key

Related Posts

Guest: Dylan James

The NASDAQ Way: Reimagine and Deliver the Future Now Since its launch as the world’s first fully electronic stock exchange 50 years ago, NASDAQ has kept growth and innovation at the forefront as critical metrics of success. And that continues today. With many of the

Guest: Carin Canale

Alignment Takes Effort Start with a Targeted Communications Plan In our current, work from home, hybrid world, communications from inside and outside of work are increasingly slowing down people’s productivity. With emails in the hundreds and distractions endless, (WiFi issues, kids learning in the next

Guest: Mick Farrell with ResMed

ResMed’s Planning Delivers Epic Results Long before any news was reported on Covid-19, ResMed, a world leader producing and innovating cloud connected devices for people with sleep apnea, COPD and chronic respiratory conditions, observed an unusual trend. Reports coming from their subsidiaries all over the

How Strategic Intelligence Gives Histogen a Leading Edge

Well before COVID-19 became front page news, Richard Pascoe, CEO and President of Histogen, heard about unusual disruptions in materials being delivered by key suppliers in Wuhan, China.   He quickly reached out to his industry connections and across the globe to ask if they

Zombie Computer Armies Target Your Work from Home Employees

https://vimeo.com/476172521 According to the FBI, reported cyberattacks have increased 300% since COVID forced employees to work from home. While you are working, sleeping and everything in between, malicious botnets (networks of computers), and hackers are relentlessly testing for vulnerabilities that will give access to your