Browse Frauds
6 results
Africrypt: South Africa's $3.6 Billion Vanishing Act
- Present
In the space between South Africa’s crypto boom and its regulatory blind spots, two young brothers built a company that looked like a future—and, according to investigators and creditors, became a vanishing act measured in billions. What was Africrypt: a breakthrough, a confidence game, or both at once?
Mirror Trading International: South Africa's $1.7B Bot Scam
- Present
Mirror Trading International sold the fantasy of a machine that could trade for you while you slept; in reality, the bot was a prop, and the only engine that worked was the one that pulled new money in behind the old.
Mozambique's Tuna Bond Scandal: $2 Billion in Secret Debt
- Present
Mozambique was told it was buying security for its coast and jobs for its young state; instead, it signed secret guarantees that turned fishing dreams into a billion-dollar deception. When the paper trail finally surfaced, the debt had already been fished out of the dark and the bill was heading straight for the public.
Steinhoff International: The South African Retail Fraud Hidden for Decades
- Present
For years, Steinhoff looked like a model of post-apartheid corporate ambition — a global retail machine built in plain sight — until the paper empire cracked and revealed that much of its prosperity had been manufactured on the ledger, not in the stores.
The Libyan Investment Authority Fraud: Sovereign Funds as Prey
- Present
A sovereign wealth fund was supposed to buy Libya influence, access, and modern finance. Instead, it walked into a Wall Street relationship that, according to later litigation, left billions in notional exposure and a trail of ruinous losses.
The Zimbabwe Sovereign Looting: When a Central Bank Enables the Fraud
- Present
Zimbabwe did not merely suffer a stolen state; it was taught to finance its own plunder through a central bank that printed, diverted, and rationed money while the currency burned around it.