Fools' Gold

Fools' Gold

The Making of A Global Market Fraud

Book - 1998
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The Making of a Global Market Fraud and Why it Could Happen Again Canada's wild new business frontier is the global mining industry and its players are among the best in the world - and sometimes the most corrupt. This is an extraordinary tale of human exploitation, fraudulent financial practices, and a stock market collapse that led to the loss of billions, with - scandalously - no word of an inquiry, no serious calls for a re-evaluation of Canada's market practices, no reform to Canada's regulatory system and no justice for the ordinary investors who lost everything. And Canadian Business Senior Writer Brian Hutchinson shows how it could easily happen again. The Canadian mining business is sick; the financial instruments used by many companies to raise money have been seriously abused; and an industry-wide conspiracy of silence culminated in the Bre-X debacle. Exploring deep into the industry's practices, Hutchinson provides the context to explain how and why the biggest fraud ever perpetrated by a Canadian company was allowed to happen. He was the first reporter on the scene in Indonesia in 1996 as the Bre-X story began to unfold, and now he pulls together all the strands of this complex and disturbing saga - combining his insider knowledge of the business world with direct access to the major players in Canada, the U.S., and Indonesia. This hard-hitting, brilliantly written account will be acclaimed as much for its storytelling power as for its business acumen.
Publisher: Toronto, Ont. : Alfred A. Knopf Canada, 1998.
Edition: 1st ed.
ISBN: 9780676970982
0676970982
Branch Call Number: 338/.2741/09/598/Hut 3588a4 1
Characteristics: xvii, 266 p. : map.

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