Schrödinger's Spy: Businessman, Fraud, or Russian Agent? - with Sam Jones
Cautionary Tales with Tim Harford
Pushkin Industries
4.7 • 6.4K Ratings
🗓️ 10 October 2025
⏱️ 62 minutes
🧾️ Download transcript
Summary
When the Financial Times uncovered the billion-dollar Wirecard fraud, it seemed like the story was over. But then the company’s Chief Operating Officer, Jan Marsalek, vanished - leaving behind clues that pointed to a double life as a secret agent.
In his new podcast Hot Money: Agent of Chaos, FT journalist Sam Jones follows Marsalek’s trail through a globe-spanning world of spies, secrets, and corruption. Sam joins Tim to take him behind the scenes of the hunt for Marsalek, share his insights on the future of Russian espionage, and explore what modern spy stories tell us about ourselves.
Find Hot Money: Agent of Chaos wherever you get your podcasts.
See omnystudio.com/listener for privacy information.
Transcript
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| 0:00.0 | Pushkin. |
| 0:10.8 | Audiences have always loved a spy story, be it the third man, the born identity, |
| 0:18.0 | or of course, James Bond, espionage as a recipe for a box office hit. |
| 0:24.0 | And I've recently been enjoying an excellent spy thriller, |
| 0:26.9 | but unlike those examples, this one is completely true, |
| 0:31.3 | and the spy at the centre of the story is certainly no James Bond. |
| 0:36.4 | My Financial Times colleague Sam Jones has been on the trail of |
| 0:40.5 | an Austrian financial fraudster who ran intelligence networks across Europe for Russia. |
| 0:47.5 | The result is the fantastic podcast, Hot Money, Agent of Chaos. I have loved listening to it. I think you will too, but before we play |
| 0:56.4 | you the very first episode on the Cautionary Tales feed, I've got Sam Jones himself with me to |
| 1:02.5 | wet your appetite. Hello, Sam. Hey, Tim. Nice to be here. Well, it's great to have you. And we should |
| 1:07.3 | start by covering your role at the Financial Times. I can't remember the actual job title. |
| 1:12.3 | You're basically the spy correspondent, aren't you? |
| 1:14.1 | I mean, that's a fair description. The cover description is European security correspondent, but yeah. |
| 1:20.4 | Oh, yes. |
| 1:21.0 | Covering intelligence and espionage. |
| 1:23.0 | Are there any spy stories you can briefly share that do not involve the subject of agents of chaos? |
| 1:31.1 | Yeah, a few. I mean, I properly used to cover security and defense for the FT sort of 2013 to 18, which was an interesting period. |
| 1:41.5 | Obviously, that's when Russia first invaded Ukraine, and also |
| 1:45.3 | when the crisis in the Middle East with the civil war in Syria blew up. So there was a lot going |
| 1:50.6 | on, especially with Ukraine, that felt like the moment where, you know, the whole kind of geopolitical |
| 1:56.0 | saga we're now right in the kind of center of began to first play out, began to first unspool. |
... |
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