By howard schneider washington post foreign service sunday, may 18, 1997. The brex minerals scandal actually happened in the mid1990s. Now i found only archive news or books from journalist who dont pay attention on technical details. The indonesian governments intervention was the beginning of the end of the brex fraud.
Gold has been represented as wealth, status, glory and power for its participating years in the business world. Author alfred lenarciak discusses his fictional book based on a. Goold and i wrote a book on brex and subsequently sold. Gold, as one of the most valuable of the precious metals also had been in relation with frauds for number of years. Brex, the inside story by diane francis pub by key porter books. If you are doing research on bre x and want facts, this is your book. Brexs chief geologist, john felderhof, eventually went on trial in canada but was acquitted of securities fraud in july 2007. Participants include bre x management, investors, the indonesian government, freeportmcmoran, busang villagers and the ontario securities commission.
Apr 28, 2018 bre x minerals ltd one of the biggest mining scams and frauds perpetrated by any company in canada. Bre x minerals acknowledged late sunday that its busang property, which it had touted as the worlds biggest gold discovery, is a worthless piece of land and is a fraud on a scale never seen. This was a very interesting book about sleeze, corruption, culture clash, and outright fraud. After 17 years, brex case finally closes the globe and mail. Author alfred lenarciak discusses his fictional book based on a reallife. However, i was dissapointed in several parts of the book when the author repeated herself in the book. Unlike many mining swindles in years past, the brex fraud has been documented in detail. Brex, the story of scoundrels at work, a litany of unchecked larceny, is laid wide open in this fastpaced presentation of historys biggest gold con.
It starts with a guide to history, focusing on the more recent aspects of the discovery of diamonds in canada to the brex fraud in indonesia. Bre x by wells, jennifer and a great selection of related books, art and collectibles available now at. See all books authored by andrew willis, including the brex fraud, and media studies. Meanwhile, investigations by the rcmp and private investigators continue, as the bre x story illustrates the power and allure of gold on the popular imagination and its getrichquick appeal for ordinary investors. Click download or read online button to get gold of bre x book now. Bre x minerals was formed by former stockbroker david walsh in 1988. Jan 26, 2017 gold misses out on rich story behind reallife brex scandal. Written by the globe and mails investment editor, douglas goold, and columnist andrew willis, the brex fraud is a readable, sharpfocused narrative that recounts the story of brex s catapult from a penny stock to a fraud that rocked the investment community. Jun 11, 20 five signs that your company is fraudulent. From an informational point of view, it was excellent. Bre x s chief geologist, john felderhof, eventually went on trial in canada but was acquitted of securities fraud in july 2007.
The inside story by diane francis and a great selection of related books, art and collectibles available now at. Herman melville, author of the american classic moby dick, once said a book is a place where great mysteries are exposed. It also showed issues of greed and insights into the world of finance and mining. The indonesian governments intervention was the beginning of the end of the bre x fraud. Investors in this category of business must have been making their investment decisions depending on the quality of the gold that a company deals. Brex minerals was the biggest mining fraud of all time, costing shareholders 6 billion. Authored by editor vivian danielson and geologist james whyte of the northern miner in toronto, this sad tale of mining fraud in the jungles of indonesia lies like an open wound on the body of mineral exploration. This chapter explores the 1997 bre x gold mining fraud. Before becoming a oneword synonym for corporate greed and cooking the books, enron was a natural gas company created during a merger in 1985.
The inside story of the worlds biggest mining scam by. The complaint also alleges that bianchini had a strong financial interest in ensuring brexs success. Gold of bre x download ebook pdf, epub, tuebl, mobi. This book provides an international view of the mining and metals industry from a historical perspective of mines and mining to potential problems. Everyday low prices and free delivery on eligible orders. Its often been said that the story of calgarys brex minerals had all the makings of a hollywood script. Setting new standards in the wake of bre x scandal. The insane hoax that inspired matthew mcconaugheys new. A legendary suicide after the brex gold mine scandal gets a remarkable twist in this suspense tale. Numerous and frequentlyupdated resource results are available from this search. Goold, michael and a great selection of related books, art and collectibles available now at. It is out of print but used copies are available on the web.
The company convinced many of the mining experts by then that they owned one of the biggest gold mines ever discovered ro, 2012. Gold today, gone tomorrow, danielson and whyte expose the worlds greatest mining fraud in a drillhole by drillhole chronicle. The top ten most outrageous stock market scams of all time. Goold and willis pull few punches, but there are not new conclusions or updates here. This site is like a library, use search box in the widget to get ebook that you want. The brex fraud, the first of at least five expected books on the brex affair, arrived in stores monday, less than four months after the companys claim of a huge gold find in indonesia was. The history books will add the brex saga to other legendary frauds like the south sea bubble. There are a handful of books written on the great brex minerals.
The brex publishing rush is on, but so far no one solves the mystery. The ruling, issued on wednesday, marks the anticlimactic end of the brex saga, 17 years after proposed classaction lawsuits were filed as a massive fraud. One calgary man is protesting brex corruption in his own unique way. And the bre x fraud was revealed to be the largest gold frauds in hi. As it progressed from stock exchange to stock exchange in north. I am preparing a brex scandal summary and article about brex fraud as am a geologist focusing on geological part with general idea how to avoid this fraud. Of the two, the bre x fraud is clearly the superior.
Brex minerals, the canadian firm that lured multitudes of investors by boasting the gold find of the century, was headed for oblivion yesterday after outside experts exposed the claim as one of. The history books will add the bre x saga to other legendary frauds. The true culprit of the massive brex fraud is up for debate. Gold misses out on rich story behind reallife brex. The brex fraud by douglas goold and andrew willis, mcclelland and stewart 1997 fools gold. Bdo and bdo natural resources linkedin group this infographic documents the rise and fall of brex. The securities regulation national instrument 43101 was created in the wake of the brex fraud to protect investors from unsubstantiated mineral project disclosures. Apr 02, 2017 fraud examination bre x mineral case study 2 fraud examination bre x mineral case study summary of the key points bre x minerals was supposedly among the most valuable companies in canada. The brex fraud was perpetrated by the simple act of salting core samples with gold.
Reliable information about the coronavirus covid19 is available from the world health organization current situation, international travel. Valuing mining companies covers all aspects of mining, mining company evaluation, and financial valuation. Jan 26, 2017 its often been said that the story of calgarys brex minerals had all the makings of a hollywood script. The inside story, a book written about the brex gold fraud, bianchini personally held one million brex shares.
Andrew willis books list of books by author andrew willis. It began energy trading, and as deregulation became more widespread in the 1990s, became an industry leader. Anatomy of the bussang swindle by vivian danielson and james whyte the northern. It was hailed as the biggest gold discovery this century, worth more than u15 billio. Fraud examination brex mineral case study 4 samples wanted to lure investors that the company was dealing in gold of high quality by fabricating the gold samples from the mine. The bre x minerals scandal actually happened in the mid1990s.
They add an engineering viewpoint to the excellent, dealbydeal analysis, the brex fraud, published earlier this year by globe and mail columnists douglas goold and. Pamela wallin chats with three authors of brex books about the whole scandal. The stock collapsed and went into bankruptcy, sparking many lawsuits and books written about the topic. Between 1994 and 1997, canadianbased brex minerals sponsored and enthusiastically promoted listings on the tsx and nasdaq by jpmorgan, lehman, bmo, scotia as well as others, who were exploring for gold on the busang property on the indonesian island of. The brex fraud douglas goold and andrew willis national. However, this book was not written by storytellers. However, formatting rules can vary widely between applications and fields of interest or study. Basically, brex was a shell of a company with almost nonexistent working capital, said david walsh the real kenny wells in a march 1997 interview. Brex, a minerals exploration company, was founded by walsh in 1989 as a subsidiary of bresea resources, a company that struggled in its early years. I decided to read this book because in an earlier book i read, asian eclipse, mention was made of the brex story and it seemed interesting to me. I like the book because it covered the whole story of bre x and the reading was easy and captivating.
Why links across the corporation often fail and how to make them work british commonwealth, united states, united nations, 1993 by campbell, andrew. Oclcs webjunction has pulled together information and resources to assist library staff as they consider how to handle coronavirus. Jan, 2016 there are a handful of books written on the great bre x minerals gold mining scandal. A well written and comprehensive book on bre x and the busang gold scam is by jennifer wells, the dark mystery of the bre x gold rush fever, published in 1997 viking. The brex mining fraud convinced canadians to regulate professional geology in canada. Brex bought the busang site in march 1993 and in october 1. A shocked journalist discusses the lack of criminal fraud charges for bre x.
The brex fraud by douglas goold and andrew willis, mcclelland and stewart 1997. The real bre x book remains to be written when players like felderhof agree to an interview. Although its producers insist gold is not related to the brex scandal, mcconaugheys character kenny wells could easily be subbed in for one of the storys reallife culprits, david walsh. Brex became the star of investors in the gold industry after it announced a major gold deposit discovery, perhaps the largest ever discovered, in properties it was mining in the busang area on the island of borneo in east kalimantan, indonesia. Bre x minerals was the biggest mining fraud of all time, costing shareholders 6 billion. Available in the national library of australia collection. Written by the globe and mails investment editor, douglas goold, and columnist andrew willis, the bre x fraud is a readable, sharpfocused narrative that recounts the story of bre x s catapult from a penny stock to a fraud that rocked the investment community. Two decades after stockmarket darling was declared.
Brex by wells, jennifer and a great selection of related books, art and collectibles available now at. The brex saga isnt solved, but books are already out wsj. Was david walshs company nearly broke before he found gold in indonesia. If you are doing research on brex and want facts, this is your book. Tells the story of the bre x fraud of the mid 90s, where they grew the resource from a couple million oz gold to 200,000 million oz hold in a matter of two years. Apr 23, 2014 the ruling, issued on wednesday, marks the anticlimactic end of the bre x saga, 17 years after proposed classaction lawsuits were filed as a massive fraud surfaced that cost investors hundreds. Gold today, gone tomorrow by james whyte and vivian danielson. The history books will add the bre x saga to other legendary frauds like the south sea bubble. When the brex bubble burst, the stock that had soared from fifty. As far as i know there was a report of freeport mcmoran who made an independent report.
1450 1452 438 1111 1364 33 386 1371 8 440 39 75 1237 1191 1257 179 417 862 845 1121 1427 129 918 1331 902 1164 255 346 795 587 1056 1442 1351 1350 1188