Pyramid of Lies

The Prime Minister, the Banker and the Billion Pound Scandal

Duncan Mavin

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English

Macmillan
26 July 2022

Biography; True crime; Reportage & collected journalism; Corporate crime; Banking

The Pyramid of Lies by international financial journalist

Duncan Mavin, is the true story of Lex Greensill, the Australian farmer

who became a hi-flying billionaire banker before crashing back down to

earth, exposing a tangled network of flawed financiers, politicians and

industrialists.

Lex Greensill had a simple,

billion-dollar idea - democratising supply chain finance. Suppliers want

to get their invoices paid as soon as possible. Companies want to hold

off as long as they can. Greensill bridged the two, it's mundane, boring

even, but he saw an opportunity to profit. However, margins are thin

and Lex, ever the risk taker, made lucrative loans with other people's

money: to a Russian cargo plane linked to Vladmir Putin, to former

Special Forces who ran a private army, and crucially to companies that

were fraudulent or had no revenue.

When the company finally

collapsed it exposed the revolving door between Westminster and big

business and how David Cameron was allowed to lobby ministers for cash

that would save Greensill's doomed business. Instead, Credit Suisse and

Japan's SoftBank are nursing billions of dollars in losses, a German

bank is under criminal investigation, and thousands of jobs are at risk.

What Bad Blood did for Silicon Valley and The Smartest Guys in the Room did for Wall Street, The Pyramid of Lies

will do for the world of shadow banking and supply chain finance. It is

a world populated with some of the most outlandish characters in

business and some of the most outrageous examples of excess. It is a

story of greed and ambition that shines a light on the murky

intersection between politics and business, where lavish fortunes can be

made and lost.

By: Duncan Mavin
Imprint: Macmillan
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 153mm, Spine: 34mm
Weight: 438g
ISBN: 9781529088892
ISBN 10: 1529088895
Pages: 352
Publication Date: 26 July 2022
Recommended Age: From 18 years
Audience: General/trade , College/higher education , Professional and scholarly , ELT Advanced , Primary
Format: Paperback
Publisher's Status: Active

Author Website: https://twitter.com/dumav

Duncan Mavin is a seasoned international financial journalist. Born and raised near Newcastle, he studied history at Durham University and spent a decade as a chartered accountant in the City and in Toronto. He then became a financial reporter and foreign correspondent for Canada's National Post. Since 2009, he has been a reporter and editor for Dow Jones publications including the Wall Street Journal, based in Hong Kong, London and New York. Duncan wrote and edited the Journal's influential Heard on the Street column for several years, and was the Journal's Financial Editor for Europe, the Middle East and Africa. He was also the Managing Editor for Barron's Group. His writing has also appeared in Barron's, Financial News and on Bloomberg News. He lives with his wife and three sons in the UK, and is a long-suffering fan of Sunderland football club.