Uncovering Wall Streets BIGGEST Scam: Notorious Ponzi Scheme Criminal Exposes His $1 Billion Fraud

The Connect- with Johnny Mitchell

Johnny Mitchell

True Crime

4.3 • 563 Ratings

🗓️ 27 April 2024

⏱️ 141 minutes

🔗️ Recording | iTunes | RSS

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Summary

Barry Minkow is one of the most infamous financial scam artists in American History. By the age of 21 he was running a ponzi scheme worth a billion dollars. He made history by being the youngest person to take a company public with his carpet cleaning business. But what people didn't know was that Barry was using money from the mafia to help fund this business. He ran bank and wire fraud, embezzled money from investors, and much more. Barry was so committed to running scams that he's been convicted more than once- one of these convictions came down WHILE he was helping the feds in fraud cases. He ended serving time in federal prison and turned his life around. He works now with the federal government go after companies that are committing fraud just like he used to. Join The Patreon For Bonus Content! https://www.patreon.com/theconnectshow Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	What I've dedicated my life to is revenge.
0:04.0	A brand new drama based on the best-selling novel.
0:07.0	They think they're better than us.
0:08.0	Who do you think you are?
0:10.0	I'm going to prove to them that they're wrong.
0:12.0	She's punishing me.
0:13.0	You destroyed my family.
0:14.0	I will not rest until I've destroyed yours.
0:17.0	A woman of substance on Channel 4 starts tonight at 9.
0:20.0	The decisions I made were selfish and evil.
0:24.9	Cold evil.
0:27.0	So I was prepared to lie, cheat, and steal to keep that money flowing.
0:30.2	It's not a manner of if you're going to get caught.
0:33.8	It's a manner of when and how many get destroyed in the process.
0:37.7	Barry Minko is one of the most infamous white-collar criminals in American history.
0:42.1	By the time he was 21 years old, he was running a Ponzi scheme worth billions of dollars.
0:47.5	He was the youngest person in American financial history to ever take a company public.
0:51.7	His carpet cleaning empire, Z carpet, went public through the help of money raised by the
0:57.6	mafia and quickly became a darling of Wall Street.
1:01.1	It was all a lie.
1:02.6	He soon got taken down and Barry was sentenced to 25 years in federal prison for bank and wire
1:08.1	fraud, running a Ponzi scheme, an investor embezzlement.
	...

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