Podcast Episodes
Back to Search
BCCI 1991 : Jurisdictional Arbitrage & Consolidated Counterparty Risk | GP/LP Analysis - 3 Red Flags| EP30 T2
Season 2 Episode 30
The structure that allowed BCCI to operate for 19 years across 78 jurisdictions is not unusual. A holding company in a low-disclosure jurisdiction. O…
1 month, 3 weeks ago
BCCI 1991 : A Bank in 78 Countries. Audited in Pieces. Supervised by Nobody. $13 Billion Gone | EP30 T1
Season 1 Episode 30
In 1972, Agha Hasan Abedi incorporated a bank in Luxembourg, headquartered in London, with a holding company in the Cayman Islands, a majority shareh…
1 month, 3 weeks ago
Cum-Ex 2012 : Legal Arbitrage vs. Legal Authorization & Dividend Withholding Extraction at Systemic Scale | GP/LP Analysis - 3 Red Flags | EP29 T2
Season 2 Episode 29
The transaction structure was disclosed to tax authorities at the individual transaction level. The aggregate pattern — multiple refund claims on a s…
1 month, 3 weeks ago
Cum-Ex 2012 : The Tax Was Paid Once. The Refund Was Filed Twice. 35 Banks Scaled It. The Courts Called It Criminal — EP29 T1
Season 1 Episode 29
The Cum-Ex scheme was simple in principle: a stock was traded rapidly around the dividend record date between multiple parties in a way that made it …
1 month, 3 weeks ago
Swedbank / Baltic Laundromat 2019 : Compliance Capture Through Revenue Dependence & Correspondent Banking Incentive Failure | GP/LP Analysis - 3 Red Flags | EP28 T2
Season 2 Episode 28
Swedbank's Estonian branch had a functioning compliance department. It identified the risk, wrote the reports, and escalated correctly — for eight ye…
1 month, 3 weeks ago
Swedbank / Baltic Laundromat 2019 : Compliance Saw It. Management Overrode It. €200 Billion Later, the CEO Was Gone — EP28 T1
Season 1 Episode 28
A Swedish retail bank branch in Tallinn with fewer than 200 employees processed €200 billion in suspicious transactions over eight years. The complia…
1 month, 3 weeks ago
ISDS / Micula v. Romania 2026 : BIT Mechanics & Cross-Border Enforcement | GP/LP Analysis - 3 Red Flags | EP27 T2
Season 2 Episode 27
A bilateral investment treaty is not a diplomatic document. It is an irrevocable option the state sells to every covered investor — the right to sue …
1 month, 3 weeks ago
ISDS / Micula v. Romania 2026 : They Signed a Treaty Before They Joined the EU. Then the EU Required Them to Break It -- EP27 T1
Season 1 Episode 27
Romania guaranteed investment incentives in writing. An investor structured an entire operation around them. The EU required Romania to cancel them. …
1 month, 3 weeks ago
Caritas Romania 1994 : Ponzi Mechanics in a Financial Vacuum & Regulatory Capture Through Political Legitimization | GP/LP Analysis - 3 Red Flags | EP26 T2
Season 2 Episode 26
Caritas didn't operate in the shadows. Itoperated in the open — with queues stretching for blocks,transaction volumes exceeding the licensed banking …
1 month, 3 weeks ago
Caritas Romania 1994 : He Promised 8x in 90 Days. Four Million People Believed Him. The Math Never Did — EP26 T1
Season 1 Episode 26
In 1992, a man in Cluj-Napoca announced hecould multiply your money eight times in three months. Four millionRomanians believed him. Teachers. Doctor…
1 month, 3 weeks ago