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Overstated

Overstated

By: Shawn Fraine MA
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Billion-dollar lies, and exactly how they were built.

Every company in these stories told the world a number. Most of those numbers were lies. Overstated unpacks the biggest frauds in business history and shows you the mechanics: exactly how each scheme worked, how nobody caught it, and what happened when it all came apart. New stories regularly. Headphones on. Let's get into it.

2026 Shawn Fraine, MA
Episodes
  • The 28-Year-Old Who Broke a 233-Year-Old Bank

    The 28-Year-Old Who Broke a 233-Year-Old Bank
    Jun 22 2026

    The conversation delves into the collapse of Barings Bank, the rise of Nick Leeson, the failure of basic controls, and the lessons learned from this catastrophic event. It explores the deceptive practices, the impact of the Great Hanshin Earthquake, and the aftermath of the collapse. The key takeaways include the failure of basic controls and the danger of allowing one person to mark their own homework.

    Takeaways

    • Failure of basic controls
    • One person allowed to mark their own homework

    Chapters

    • 00:00 The Collapse of Barings Bank
    • 09:06 The Back Office and Segregation of Duties
    • 14:11 The Deception and Forgeries
    • 21:33 The Great Hanshin Earthquake
    • 27:26 The Collapse of Barings Bank
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    31 mins
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