Mary Martin Booksellers
Mary Martin Booksellers
Mary Martin Booksellers
MaryMartinBooksellers
Back Book Title The Grand Scam

USD 27.50
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The Grand Scam
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- Rob Rose
- South Africa
- Zebra Press, South Africa
- 9781770226210
- 2013
- 272p.;
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From 2005 to 2009, the heir to one of South Africa’s blue-blood families methodically constructed the largest-ever con in South African history. Barry Tannenbaum, the grandson of the founder of one of the country’s biggest pharmaceutical firms, Adcock Ingram, offered investors stratospheric returns of more than 200 per cent a year by investing in the components used to make AIDS drugs. It was nothing more than a lie, which suckered the country’s business elite, including the former CEO of Pick n Pay, the one-time head of the Johannesburg Stock Exchange and the ex-boss of OK Bazaars. After the bubble popped in June 2009, finance minister Pravin Gordhan announced that hundreds of investors in South Africa, Australia and Europe had ploughed more than R12.5 billion into Tannenbaum’s scheme, based on the empty promise of immense riches. Dwarfing the Brett Kebble rip-off, Fidentia and the Krion pyramid scheme, it proved to be the most embarrassing financial disaster in the country’s history, and it exposed holes in a banking and financial system billed as one of the safest in the world.

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