Famous scammer Anna Delvey lied about having a $67M trust fund

Read about why America is obsessed with the stories of financial scammers.

In the 1870s, a woman from Boston ran a Ponzi scheme disguised as a bank by women, for women that promised 8% interest.

Read a primer on Elizabeth Holmes, the disgraced founder of biotech startup Theranos who was sentenced to prison for defrauding investors.

Who is wellness scammer Belle Gibson?

A new Netflix drama series called “Apple Cider Vinegar” tells a story inspired by the real-life scandal of Belle Gibson. Gibson falsely claimed to have healed herself of terminal brain cancer through healthy eating. She built a successful wellness empire without any medical background until journalists eventually found inaccuracies in her story. Discover more about the woman who founded a business on deception, how she got caught, and where she is now.

Georgia inmate pulls off $11M heist—from inside his cell

Prisoner Arthur Lee Cofield Jr., 31, allegedly impersonated Sidney Kimmel, the uber-wealthy chairman and CEO of a Los Angeles entertainment company, with the help of contraband cell phones from inside his prison cell.

After an estimated $8B in customer funds were lost through a cryptocurrency scheme likened to a Ponzi scheme, FTX founder Sam Bankman-Fried was sentenced to 25 years in prison.

Read the Forbes 30 Under 30 Hall of Shame, a list of dubious people Forbes honored before their wrongdoings were revealed.

Inside the Sarah Lawrence College sex cult scandal

In late 2010, a middle-aged man, freshly released from prison, moved into his daughter's college dorm and created a group that had all the hallmarks of a cult. Over the decade that followed, he extorted millions of dollars from vulnerable young adults through violence, psychological torture, and forced sex work. Authorities credited his arrest to a magazine article published in 2019 detailing victims' allegations.

The woman who coined the term ‘girlboss’ now has a VC firm called Trust Fund

In 2006, Amoruso founded the clothing company Nasty Gal, then later wrote a memoir called “#Girlboss” about her company’s meteoric rise. Later, she launched other ventures, including her “Business Class” business coaching series and the venture capital fund “Trust Fund.”

The story of a bitcoin loophole that gave one man millions

James Parker discovered a glitch in an Australian cryptocurrency exchange that would allow him to cash in credits worth over $20M and make big gifts to his friends. Like most loopholes, the authorities found out, but not before his life was transformed. The first in a six-part series.

The FBI estimates that $1B is lost to international romance scammers through fake online relationships each year.

Caroline Calloway: The influencer who botched two six-figure book deals

The daughter of a real estate mogul, Caroline Calloway was an Instagram influencer who leveraged her "Cambridge captions"—young adult novel-esque descriptions of college parties—into a six-figure book deal in 2014. After having failed to produce...

Watch a man who counterfeited over $1M explain how to counterfeit money—including information about the materials and processes required to make fake money and how to spot a fake banknote.

One man lost roughly $100K to a con artist—then turned it into a business

The victim of the con now helps other victims of similar crimes. He's also written a book and hosts a podcast on the subject.

What happened at Fyre Festival?

Top supermodels and influencers, including Bella Hadid, promoted Fyre Festival—which was supposed to be a luxury music festival on a secluded island—on their social media feeds. But when the people who had shelled out thousands to attend arrived, they found something closer to a horror movie turned survival situation.

Between 1989 and 2001, a security guard dubbed 'Uncle Jerry' rigged the McDonald's Monopoly sweepstakes by handing out 60 winning pieces worth more than $24M.

The scam factories behind prolific scamming

Scammers are on the rise, and many of those behind them are trapped in so-called scam factories—shadowy organizations tricking honest workers into fraudulent employment.

The quiz show scandals eroded trust in the media

Many viewers were attracted to the shows because they were filled with real people winning real money. After it was exposed that “Dotto,” “Twenty-One,” “The $64,000 Question,” and others had been fixed, the genre struggled to regain viewers’ trust. The government intervened, too: President Eisenhower called the shows’ deception “a terrible thing to do to the American people” and Congress amended the Communications Act in 1960, explicitly outlawing fraudulent game shows.

The 2024 Synapse collapse took $90M of people’s life savings with it

In 2024, a banking middleman called Synapse declared bankruptcy. Unfortunately, it also locked roughly 100,000 Americans out of their own money, which prompted a class action lawsuit.

A deep dive into Enron, one of the largest accounting scandals in history

Investing comes with great opportunities for reward, but it also carries great risk. Investors learned that the hard way when Enron collapsed. Everyone lost money—from the largest institutions on Wall Street to mom-and-pop investors who bought S&P 500 index funds. This series from American Scandal starts with a close-up into an investment manager at Enron who started to unravel the accounting scandal happening behind the scenes. Listen here.

Ruby Franke is an influencer serving time in jail for child abuse

The story of this parenting influencer is perhaps one of the darkest stories to come out of the creator economy. Ruby Franke previously ran a YouTube channel with millions of followers where she made money by monetizing her controversial parenting advice. Now she’s serving jail time for child abuse.

Estée Lauder was famously evasive about many personal details of her life

While Estée Lauder's name is known worldwide, many details of her life are shrouded in mystery, such as the year she was born. Lauder was criticized for her lifelong "social climb" and her drive to join "high society," which may be why she never shared many particulars about her humble childhood. (Some users may experience a paywall.)

Turning a profit with terminal illness

After Amanda Riley was diagnosed with cancer, her social media followers rallied to raise funds to ensure their favorite religious influencer could afford one miracle after another. As more than $100,000 of donations poured in, Riley shared glimpses into her health struggles, posting evidence as fake as her diagnosis. Pulling from years of journalistic investigation, this eight-episode podcast series dives into Riley's reality.

A look at the biography of Sam Bankman-Fried by author Michael Lewis

Michael Lewis released a book, "Going Infinite," on the day the subject of the book began his high-profile fraud trial. The book delves into the life of Sam Bankman-Fried, a young billionaire in the cryptocurrency world. Find out what the bestselling author discovered over two years and 100 interviews with Bankman-Fried.

After Bernie Madoff's nearly $65B Ponzi scheme was exposed, the Securities and Exchange Commission was widely criticized for being inattentive and overly lax for not having caught the fraud earlier.

The spread of fraudulent stem cell treatments

All the coverage of research into promising (but often unproven) medical treatments involving stem cells has created conditions allowing some people to engage in activities regulators describe as scams. As this news article explains, attorneys general in at least seven states have taken legal action against businesses that promised (costly) stem cell treatments but allegedly engaged in fraud.

Often dubbed the 'king of bank robbers,' George Leonidas Leslie stole an estimated $7M (equivalent to $200M today) and charged other criminals a $20K fee to evaluate their heist plans

Leslie studied architecture and used blueprints of safes and banks to execute meticulously planned bank heists across the Northeast between 1869 and 1878. Although Leslie was an infamous bank robber by night, he posed as a member of high society by day, providing critical intel on the institutions he'd rob and helping conceal his crimes. Months before his largest planned heist, where he planned to turn on his gang, Leslie's body mysteriously washed up along the Hudson River. His killer remains a mystery.

Inside a FIRE follower's money diary

This podcast episode details a few days inside the bank account of a woman in Australia who set out to retire by age 35.

In 2025, American Express paid $230M to settle fraud and deceptive marketing charges

American Express launched a wire payment service targeted at small businesses and falsely touted the service as a tax-deductible business expense in 2018. American Express was also accused of allowing small businesses to open corporate credit cards without the necessary employer identification number (EIN).

A couple was once sent to prison for running a $31.8M extreme couponing fraud scheme

Investigators found fake coupons in “every crevice” of husband and wife duo Pacifico Talens Jr. and Lori Ann Talens’ home. The couple was sent to prison and are serving a combined 19 years.

Shohei Ohtani's interpreter allegedly stole $16M for gambling debts

Ippei Mizuhara first met Shohei Ohtani during the two-way star’s rookie year in Japan. Ten years later, Mizuhara, who had become a trusted friend and confidant to Ohtani, is alleged to have stolen $16M from his employer to repay gambling debts.

A librarian stole $8M worth of rare books from Pittsburgh's Carnegie Library over 25 years

Greg Priore, who managed the library's rare book collection, systematically removed maps and prints and sold them through a local bookseller. He was eventually caught during a routine audit and sentenced to three years of house arrest.

After her arrest, a technicality made it harder for Holiday to perform

The Cabaret Identification Card was required for all performers in New York nightclubs that served liquor. After her arrest and yearlong imprisonment, the New York Police Department revoked Billie Holiday's card, making it extremely difficult for her to earn money. The video features contemporary jazz musician Christian McBride breaking down the history of cabaret cards and how the ban affected Holiday.

Contrary to popular belief, trusts aren’t only for the wealthy

Trust funds can be expensive to set up, given that their establishment often requires paying a lawyer for their time. But for many, that expense might be worth it depending on the complexity of the assets and the ability to specify when, where or how an estate’s assets are used.

A funeral director lied and claimed he discovered a centuries-old Roman brooch

An amateur metal detectorist knowingly deceived thousands into believing he found an 1,800-year-old horse figurine. He received payment for the artifact to be featured in a museum, but he later admitted he bought the brooch online and planted it.

James Frey's 'A Million Little Pieces' was marketed as memoir but revealed as fiction

The addiction book became a huge success after being added to Oprah Winfrey's book club. After it was revealed to be fiction in 2005, Oprah invited Frey on her show and criticized him for deceiving her and his readers.

Soybean oil fraud almost decimated American Express in 1963

A New York commodities trader who had defrauded the American government over uninspected meat for school lunches, Anthony "Tino" De Angelis, used American Express warehouses to sell soybean oil. However, Angelis had actually filled the tanks with water and placed just enough soybean oil on top of the tanks to pass inspection. American Express was liable for many of the tanks and its stock faced a huge downturn, opening the door for a then 33-year-old Warren Buffett to make his first purchase in the company.

Families of true crime victims deal with added pain when their stories are publicized

True crime enthusiasts have never asked Annie Nichol to consent to public recountings of her sister's murder. For decades, Nichol has been inundated with gruesome dramatizations of one of life's greatest losses by people who profit from such productions. She has, however, been asked to share memories of her sister, though such memories "are all that I have left of her that haven't been exploited for public consumption."

How Martha Stewart became the first self-made billionaire woman

Through her cooking shows, cookware, and media empire, Martha Stewart ascended to billionaire status in 1999, becoming America's first woman to achieve that number on her own. Despite a conviction in 2004 and time spent in prison, Stewart rebounded and continues to develop product lines and media, with an estimated net worth of $200M. Read more about her story here.

A former financial crime investigator says Hollywood has done a pretty good job depicting money laundering

A former financial crime investigator says "Narcos" and "Ozark" have pretty realistic scenes, but other well-known financial crime depictions like "The Wolf of Wall Street" are off base. Some of the main inconsistencies include overly dramatic gunfights and unrealistic cash amounts.

'The Fund' exposed culture problems and scandals at Bridgewater Associates

In 2023, Rob Copeland—who covered Bridgewater Associates for The Wall Street Journal for 10 years before moving to The New York Times—wrote a book that drew from interviews, company documents, and meeting recordings. "The Fund" highlighted sexual harassment scandals, a company contract to hire strippers, and a toxic company culture. Dalio has criticized the author for being sensational and a gossip.

Sophia Amoruso's company Nasty Gal was worth $100M at its peak

In 2006, Sophia Amoruso started an eBay shop that would later transform into the clothing company Nasty Gal. However, Amoruso’s rags-to-riches success with Nasty Gal didn’t last. After multiple rounds of layoffs and employee complaints, the company filed for bankruptcy in 2016.

Consumers reported losing more than $126M to Social Security scams in 2023

This article includes tips on how to spot a Social Security scam, including information about what the real Social Security Administration will and will not do. For instance, the Social Security Administration will never threaten someone with benefits suspension or bank account seizure if they do not comply with a request.

Largely considered to be the inspiration for Gordon Gekko in the movie 'Wall Street,' Ivan Boesky was one of the most high-profile white-collar criminals and faced a $100M fine for insider trading in 1986.

Weight Watchers founder Jean Nidetch had a gambling problem, burning through the $7M she made from the company's sale to Heinz after moving to Las Vegas.

How a 19th-century aristocrat scammed the rich to buy fake Caribbean land

Nearly 200 years ago, Gregor MacGregor pulled off one of the most brazen real estate scams in history. A disgraced military leader, MacGregor sold plots of land in what is today Honduras, touting the country of Poyais as a new major region in South America. But no building was taking place, and instead of investing the proceeds of bond sales in construction, MacGregor was lining his pockets. Read the unbelievable story of MacGregor's exploits here.

A post-game interview with Sophia Amoruso directly after her 2016 Forbes cover

This article from 2016 is a time capsule of sorts. It includes an interview with the person who coined the term “girlboss,” Nasty Gal founder Sophia Amoruso, that took place just after she appeared on the cover of Forbes magazine. We now know that her company would go on to file for bankruptcy the next year.

A Chinese-Mexican alliance marked one of history's largest nonviolent money laundering schemes

In 2019, Chinese-American gangster Xizhi Li was arrested for an expansive money laundering scheme spanning four continents. Li reportedly laundered hundreds of millions of dollars for cartel members, wealthy Chinese Americans, and other foreign countries.

The strange, unsolved story of Filippo Bernardini and the stolen book manuscripts

Over the last five years, a mysterious figure has been stealing manuscripts, often unpublished, from individuals and organizations in the publishing industry across three continents. The scammer, later identified as Filippo Bernardini, was an...

Former LuLaRoe vendors have accused the clothing multilevel marketing company of operating a pyramid scheme, resulting in more than 50 lawsuits and a $4.75M settlement.