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  • Pyramid of Lies

  • The Prime Minister, the Banker and the Billion Pound Scandal
  • By: Duncan Mavin
  • Narrated by: Duncan Mavin
  • Length: 10 hrs and 59 mins
  • 4.6 out of 5 stars (117 ratings)
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Pyramid of Lies

By: Duncan Mavin
Narrated by: Duncan Mavin
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Summary

An epic true story of ambition, greed and hubris that nearly brought down the British government.

In March 2021, an obscure financial technology company called Greensill Capital collapsed, going into administration. As it unravelled, a multibillion-dollar scandal emerged that would shake the very foundations of the British political system, drawing in swiss bankers, global CEOs, and world leaders, including former British Prime Minister, David Cameron. At the centre was an Australian financier named Lex Greensill.

Pyramid of Lies charts the meteoric rise and spectacular downfall of Greensill and his company. He had a simple idea—democratising supply chain finance—and disrupted a trillion dollar industry in the process. But a staid business model concealed dubious practices as Greensill made increasingly risky loans to fraudulent companies using other people’s money.

Financial journalist Duncan Mavin, who has reported on the scandal for over three years, tells the incredible story of how a former sugar-cane farmer would go on to put tens of thousands of jobs at risk and gain unfettered access to the inner workings of the British government. With a globe-circling narrative full of scandal and intrigue, Pyramid of Lies reveals how the grubby world of shadow banking really operates.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2022 Duncan Mavin (P)2022 Macmillan Publishers International Limited

What listeners say about Pyramid of Lies

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Brilliant Summary of Events

As a former Greensill VP of Product for KYC and onboarding Automation.
I enjoyed this story. Thanks

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    5 out of 5 stars
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Excellent narration and story

Excellent explanation of the scandal. I think there should a next audiobook on the Gupta family group of companies.

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  • Overall
    5 out of 5 stars
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Too big to jail. Fraudster who is untouchable

Very well written. Sad these people will always get away with it. Fraudster who had government in his pocket

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Sounds like Deutsche Bank and the derivatives sham

Title says enough and yet it seems the UK legal framework happily protects Lex and yet chases after the Corner shop vat return

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Pyramid of Lies, brilliant

well researched, engaging and well written. very interesting from start to finish. it could have been such a dry topic but I just could not believe what they were doing and how they were getting away with it, so I had to keep going. What I thought might be a bit of an educational but dry book turned into a bit of a page turner.

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Brilliant from beginning to end

Wow! Brilliantly researched, well written and engagingly narrated by Duncan Mavin. It is one of those rare pieces of work that are both entertaining for anyone interested and instructive for those working in risk management.

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  • MS
  • 11-03-23

Lex pitched me three times, never a sound investment

Lex pitched me a few times with a large number of CS bankers, that started the alarm bells but what really hurt his firm was that the it’s economics weren’t that compelling. This is story of what good sales and self belief can achieve versus creating value and substance.

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Incisive and compelling

A great piece of investigative financial journalism. Reads like a thriller. Should be on the reading lists of all MBAs.

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  • Overall
    4 out of 5 stars
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The strange world of Lex Greensill

Investigative reporter Duncan Mavin reveals the story of Lex Greensill, the Australian farmer who quickly built a surprisingly profitable empire on supply chain finance. But all was not as it seemed. As Geeensill’s sales skills duped the likes of Credit Suisse, SoftBank and former UK Prime Minister David Cameron (who comes out of this looking very shabby indeed) into thinking he was a fintech entrepreneur with the Midas touch, the reality was that his business was built on lies and greed. Indeed, it was little more than a Ponzi scheme that was doomed to fail, wiping out investors, closing businesses and leading to huge job losses. Despite intimidation from powerful interests, Mavin kept chipping away at the evidence of malpractice that so many others ignored - until even those close to Greensill could see the scale of his duplicity.
I really enjoyed this book - well narrated by the author - which I think would appeal to both finance experts and (people like myself) who have little financial knowledge but are interested in how big business works (or in this case doesn’t).

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2 people found this helpful

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Listen to it for a good tale, linger over what it

Mavin's book is well researched, well written and shines a light on general problems - nepotism and gullibility in British politics and financial markets - through the lens of a scandal that is being kicked into the long grass as we speak.

Greensill was Britain's Enron or theranos - all style, no substance enriching charismatic charlatans who will change the world (they all did, but not as planned!). It will be interesting to see how the criminal justice system deals with it.

Listen to it for a good tale, linger over what it tells us about Britain

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