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TRUE

Ep 24 The Pigeon King

TRUE

Imperative Entertainment

True Crime, History, Society & Culture

4.5623 Ratings

🗓️ 15 September 2020

⏱️ 29 minutes

🧾️ Download transcript

Summary

Didn’t know there was big money to be made in pigeons? Yeah, neither did we. In one of the craziest money-making schemes ever, an unlikely mastermind known as the Pigeon King managed to swindle hundreds of millions of dollars from eager investors. Move over Wall Street, the scams are going to the birds! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Oh, that's my prime delivery.

0:01.6

What, already?

0:02.7

Only one thing can match the buzz of Prime's fast delivery.

0:06.2

And that's the buzz of Prime's entertainment.

0:09.0

What are we watching?

0:09.7

Heads of state, that new action comedy with Idris Elber as the Prime Minister,

0:13.3

John Sina as the President and Prianka Chopra Jonas,

0:15.9

as their only hope.

0:17.0

It looks like a blast.

0:18.3

From fast delivery to explosive entertainment, it's on Prime. For only

0:23.0

899 a month, join now. Content includes limited ads, subscription, or to renews. For more information,

0:28.2

go to amazon.com.uk.uk slash prime. This podcast is intended for mature audiences.

0:33.9

Listener discretion is advised.

1:08.0

The Listener discretion is advised. Scams have been around long before recorded history, and have taken form in sometimes silly and sometimes diabolical ways.

1:16.9

As long as there are easy targets out there, there's a scammer plotting to take advantage.

1:23.7

We will probably never know if the first scam ever involved fire insurance for cave people.

1:28.5

But what we do know is that the first scam to make it into the history books occurred in the year 300 BC. According to historians, a Greek ship owner agreed to take on a large cargo

1:36.2

of freshly harvested corn. With weather conditions out at sea being as unpredictable as they are,

1:42.4

the sea merchant wanted to cover his assets,

1:45.2

so he purchased an insurance policy. The way it worked was pretty straightforward,

1:51.0

as it basically operated much like a short-term loan. Prior to setting sail, the ship

1:59.1

owner received money to cover the value of the boat, as well as the cargo it was carrying.

...

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