The Biggest Fraud in History | Antonio Reza

The James Altucher Show

The ABCs of How to Commit Corporate Fraud:

• Step 1: Have high-up government connections.
• Step 2: Deal with a service so complicated that you don't need to explain it.
• Step 3: Transfer balances between your own entities to pump up valuations.
• Step 4: Payoff the accountants (or don't have a CFO at all!).

Enron, WorldCom, Madoff Securities, FTX. All of these companies have had Icarus-like rises and collapses and they all followed the same playbook. Is it a coincidence that the man who returned $20 billion to Enron’s creditors will now oversee FTX through Chapter 11 bankruptcy?

Today, Antonio Reza (Head of Finance for Google Cloud EMEA, ex-Microsoft Azure, ex-GE) joins James to discuss the greatest fall of them all, Enron, and its similarities to the recent plummet of FTX. Antonio's recent thread about Enron is a must-read and his Twitter account is full of similar insights.

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• Visit Notepd.com to read our idea lists & sign up to create your own!
• My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!
• Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.
• I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com

------------

Thank you so much for listening! If you like this episode, please rate, review, and subscribe to “The James Altucher Show” wherever you get your podcasts:

• Apple Podcasts
• iHeart Radio
• Spotify

Follow me on social media:

• YouTube
• Twitter
• Facebook
• LinkedIn