A four‑o'clock timestamp lost a fortune and toppled careers
An anonymous phone call reveals a financial fraud where a four o'clock timestamp loophole drained billions from ordinary Americans' retirement savings.
A four‑o'clock timestamp lost a fortune and toppled careers
This episode explores a sophisticated financial fraud that exploited a timestamp rule in mutual fund trading. It delves into how a seemingly innocuous detail became the foundation for a scheme that cost investors billions.
Person: New York Attorney General Eliot Spitzer
Date: June 2003
Event: Anonymous phone call to Attorney General's office
Rule: Rule 22c-1 (forward pricing rule)…
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