3 Examples Of Financial Fraud Throughout History3 Examples Of Financial Fraud Throughout History
Financial fraud has a long and rich history spanning back to 300 B.C. when a Greek merchant called Hegestratos took out an insurance called a bottomry. He then borrowed money and promised to pay up when his cargo of corn was delivered. If the merchant refused to pay up the lender could seize the cargo and the boat that the is used to transport it. Hegestratos had planned to sink the boat carrying the corn, keep the loan and sell the corn. However, his plan failed and he drowned after he sunk the boat. These days we need to be… [...]