The Six Billion Dollar Gold Scam
It was the biggest gold discovery in history…until it wasn’t. In 1995, Canadian mining company Bre-X announced to the world it had found a significant amount of gold deep in the jungles of Indonesia. Stock prices soared as investors worldwide fought to stake their claim. But when Bre-X’s chief geologist mysteriously fell from a helicopter over the jungle, the story of the billion dollar discovery began to unravel. Nearly three decades later, no one has ever been held accountable. Now, host Suzanne Wilton takes listeners from the jungles of Indonesia to small town Alberta, Canada, to investigate what really happened and find out more about the man behind the biggest goldmine fraud of all time. Produced for the BBC World Service and CBC by BBC Scotland Productions. Please note, this series contains references to suicide and has some graphic content.
Episodes
It was the biggest gold mine fraud of all time – a scam that devastated countless lives. But what really happened? Suzanne Wilton revisits the story that she just couldn’t let go of, to find answers about how the scam was perpetrated… and about the mysterious death of a geologist in the jungle. Released from 19 May 2024.
From the BBC World Service and CBC.
Bre-X geologist Michael de Guzman is the man of the hour. He’s responsible for one of the biggest gold discoveries in the world, deep in the Indonesian jungle. It’s a find that sends Bre-X stock prices soaring to stratospheric heights. So his apparent death — a dramatic fall from a helicopter flying to the gold site — sends shockwaves around the world. Did he jump? Was he pushed? But the days following his death will prove even mor...
It’s gold fever. Estimates put the Bre-X discovery at four times the size of the biggest known gold deposit — and investors are trying to cash in. A small Canadian town is swept up in the gold rush. But others are asking questions, including a hedge fund manager who goes to extraordinary lengths to get inside the Indonesia gold site. Since this episode was recorded, John McBeth has sadly passed away. We are very grateful for his c...
As the value of the Indonesian gold discovery skyrockets, it’s not just everyday investors who want in. Powerful players are drawn into the fight for the gold in Busang. But Bre-X, a small company, has only ever traded as a penny stock. Can it stand up to powerful rivals and play in the big leagues?
Bre-X’s new partners visit the Indonesian gold exploration site and make a shocking discovery. It will result in a reckoning half a world away at the mining industry’s party of the year — the Prospector and Developers Association Convention. Is the dream of a billion-dollar gold mine about to shatter?
On the ground at the Busang exploration site, the dream is collapsing and Bre-X geologist Michael de Guzman is needed for some major questioning. But where is he? As the hours tick by and he fails to arrive at Bre-X's site, news of a tragedy spreads. Those involved in the gold discovery need to get out of Indonesia and fast. Since this episode was recorded, John McBeth has sadly passed away. We are very grateful for his contributio...
With Bre-X stock halted on the financial markets, the company goes into meltdown. A terrible truth emerges and a scam on an epic scale is revealed. Investors are set to lose millions and entire pension funds will be wiped out. A golden dream turns into a waking nightmare.
Please note, this episode contains difficult subject matter, including references to suicide, and contains some graphic content.
The hunt to discover who was behind the six billion dollar gold scam begins, and Suzanne brings new information to light on how it was perpetrated. But who was to blame and will anyone be held to account?
Please note, this episode contains difficult subject matter, including references to suicide and death.
Did geologist Michael de Guzman really jump to his death from a helicopter? New information on his last day alive comes to light. And Suzanne tracks down details of his autopsy. Were there other forces at work? Was de Guzman’s death collateral in a larger cover up? Since this episode was recorded, John McBeth has sadly passed away. We are very grateful for his contribution to this story.
Please note, this episode contains difficult...
A new witness comes forward with important new evidence over the fate of Bre-X geologist Michael de Guzman. The investigation takes a dramatic turn. Could Suzanne finally be close to finding out what really happened? Did de Guzman take his own life to free himself of the scam, was he murdered or did he hatch an elaborate escape? Since this episode was recorded, John McBeth has sadly passed away. We are very grateful for his contri...
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