Breaking News
1. More than 200 arrested in Kenya protests over proposed tax hikes in finance bill      2. South Korea orders doctors who joined protracted strike over medical school plan to return to work      3. Putin in North Korea to boost defence ties      4. Mumbai-bound IndiGo flight from Chennai receives bomb threat message      5. Russia's drone attack on Lviv region injures one, Ukraine's official says      6. PM Modi to inaugurate Nalanda University campus in Bihar today      7. Delhi’s peak power crosses 8000 MW, highest ever in history of national capital      8. PM Modi insugurates PM-Kisan scheme      9. I consider farmers, women, as strong pillars of Viksit Bharat: PM Modi in Varanasi      10. Over 30,000 support groups receive Krishi Sakhi, says PM Modi      11. Maharashtra core team held meeting with central leadership      12. Rahul Gandhi resigns from Wayanad      13. After the accident, Kanchanjunga Express arrives at Sealdah station; food and medical assistance provided.      14. PM Modi to visit Varanasi today, release 17th PM-Kisan instalment      15. Two key Democrats in US Congress approve major arms sale to Israel, Washington Post reports      16. Nikhil Gupta will now face justice in American courtroom, says US attorney general      17. Judge orders railway to pay Washington tribe nearly $400 million for trespassing with oil trains      18. Australian PM flags 'concern' over Chinese actions at media event      19. ‘Good players, but not good as team’: Babar unfiltered on reason for T20 WC exit      20. Kichcha Sudeep reacts to Kannada actor Darshan's arrest in murder case     

Billion Dollar Gold Scam: A New Podcast Looks Into The Mysterious Death Of A Geologist Hired To The Mining Industry

  • Posted on May 19, 2024
  • News

A new podcast reinvestigates the death of geologist Michael de Guzman and the billion-dollar Bre-X gold mining fraud in Indonesia, raising doubts he committed suicide.


A podcast series is launched, exploring one of the biggest corporate fraud cases that took place recently - the gold mine scandal by Bre-X which caused a stir in the mining world back in the late 1990s.

In 1993, a small Canadian company named Bre-X Minerals said that a gold deposit with the largest size was discovered them in a jungle area in Borneo, Indonesia. Over the years and with the constant warnings of a rich gold mine ahead, investors kept on coming, and at the end of 1997, Bre-X's evaluation rose to a huge $6 billion. 

It turned out to be a farce, however. In the first place, there was no gold, and the samples of the rock had been tampered with by adding a tiny amount of gold dust to make the investors believe. However, the scam was discovered towards the end of 1997 when the larger mining company brought in to mine the deposit and could not find any gold.

The scandal revolved around the main geologist of the Bre-X, who was Michael de Guzman, who had supported the gold deposit and pinpointed where to drill according to a "dream. " When the fraud was finally unveiled in March 1997, de Guzman died in a mysterious accident after he fell from a helicopter on the way to the mine.

The coroner found that the death was a suicide, but the BBC’s new podcast may be casting a shadow of doubt on the official version of the narrative. The clues provided, tell a story of what possibly happened to De Guzman, such as getting killed or even faking his death and still being alive until now.

Also Read: Entrepreneur of Bengaluru Issues Alert about SMS Scam, Shares the Way of Escaping the Scheme

There are six episodes to the series based on the new interviews and evidence collected by journalist Suzanne Wilton who as a journalist has been haunted by the case for years. Although the billion-dollar gold scam planners were never truly punished for their misdeeds, the podcast aspires to eventually reveal the truth behind de Guzman’s disappearance and whether he met an untimely death or if he was a part of the plan to commit the greatest corporate crime in history.

No Image

You May Also Like