Uncovering the 56,000 Bogus Policies at Equity Funding Corp

In this clip, we dive into the shocking case of Equity Funding Corporation of America, where a massive insurance fraud scheme was uncovered. Indictments were filed against 22 defendants, including top executives, on charges ranging from securities fraud to interstate transportation of counterfeit securities. The company had created over 56,000 fake life insurance policies worth a staggering $2 billion, with millions in non-existent loan receivables and phantom corporate bonds. We explore how the scheme unraveled and the surprising guilty plea from key figure Stanley Goldblum.

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