Companies with accounting & finance environments that have inadequate policies and procedures and weak internal controls leave themselves open to risks of white collar fraud.

In this episode, a case study is presented of one such environment encountered by Edward and how, when he uncovered a Can of Worms, he was unceremoniously stopped in his tracks.

Listen to Edward's takeaways about the lessons learned and the red flags, and about how investors were taken advantage of by a number of cunning and deceitful promoters of Chinese real estate to foreign investors. Lessons that will hold true and be useful when evaluating real estate investment opportunities, at home and abroad, in the future.

Hear how a group of Irish investors were deceived in an alleged fraud, when they invested a significant amount of money in an overseas residential property investment opportunity in Shanghai, China. As details of the purported fraud came to light, the sheer audacity and brazenness of the fraud and the fraudster were astonishing and the investors were certainly in for a big 'Shanghai Surprise!'

This is a 'must listen' for those who have or are considering investing in property schemes overseas, as valuable lessons can be learned from the red flags in this case file.

Investing in overseas property, in countries like China, creates additional risks for the investor not only because of the geographical distance involved and the different laws and regulations but also because of the increased reliance that is necessarily placed on the promoter and manager of the investment opportunity. This file reveals what happens when the promoter and manager becomes tempted by corruption, engages in unscrupulous and unethical behaviour and takes advantage of credulous and gullible investors back home.

In part two of the episode, you'll hear about the details of the Ponzi fraud, about the trial and the sentencing, and about the impact on the perpetrator and his fall from grace. You'll also hear about red flags to look out for when considering investment opportunities.

I open the files on how one entrepreneur, who I met on a number of occasions, operated a Ponzi scheme in which he defrauded the investors out of millions to fund a lavish lifestyle, until the law finally caught up with him ......

I open the files on how one professional, who I met on a number of occasions, managed to convince a large number of investors to trust him with their money in a property development scheme, and how it cost them dearly when the tide went out ......

Fraud Files Podcast

- The podcast gives you short-form case files on white collar fraud. Told by the man who opens the files and shines the spotlight on the details inside. Episodes drop every Tuesday.