He Fell From A Helicopter Before Questioning...

Bre-X was one of the biggest gold mining frauds in history: a $70 billion gold discovery, a Canadian penny stock, Michael de Guzman, and a mysterious helicopter fall. In the 1990s, Bre-X Minerals claimed to have discovered what could become the largest gold deposit ever found, buried deep in the Indonesian jungle at Busang. The company went from obscure penny stock to a multi-billion-dollar market sensation. Major mining companies wanted in. The Indonesian government wanted control. Canadian pension funds bought the stock. Tens of thousands of investors believed they were watching the discovery of a lifetime. Then Freeport-McMoRan drilled the same ground. The gold wasn’t there. Investigators eventually concluded that Bre-X samples had been “salted” with outside gold, including river-worn gold that could never have come from the rock being tested. But before the fraud was fully exposed, geologist Michael de Guzman, one of the men at the centre of Bre-X, disappeared from a helicopter over the Borneo jungle while travelling to answer questions about the drilling results. Days later, a badly decomposed body was recovered. What happened next left behind one of the strangest unanswered questions in Canadian financial history. Was Michael de Guzman really dead? Was his fall suicide? Could he have staged his disappearance? And how did a supposed gold deposit worth more than $70 billion pass through mining companies, regulators, stock exchanges and institutional investors without anyone independently proving the gold was actually there? This is the story of Bre-X, the Busang gold fraud, the collapse of Bre-X Minerals, and the mystery surrounding Michael de Guzman. Because the most disturbing part of Bre-X isn’t simply that the gold was fake. It’s how many powerful institutions had the ability to check, and didn’t. #BreX #GoldFraud #MichaelDeGuzman #MiningFraud #Busang #CanadianHistory #FinancialFraud #StockMarket #GoldMining #businessdocumentary ━━━━━━━━━━━━━━━━━━ 📩 Power & Ruin Collapse Playbook Investigating 200+ Companies with Bonus Theranos Case File : → news.powerandruin.com/subscribe ━━━━━━━━━━━━━━━━━━ About Power & Ruin Power & Ruin investigates the psychology behind companies, movements, and belief systems that reshaped the world, and why their collapse was inevitable. Cinematic deep-dives into fraud, corporate failure, and the psychology of power. ━━━━━━━━━━━━━━━━━━ CHAPTERS 0:00 Bre-X: The Helicopter Landed Empty 1:47 How Bre-X Found Gold at Busang 4:26 The Locked Hut: How the Samples Were Salted 7:01 How Pension Funds Were Forced to Buy Bre-X 9:40 Suharto's Family Moves In on Busang 12:30 Michael de Guzman's Helicopter Fall 13:20 Was the Body Really Michael de Guzman? 17:55 The Bre-X Collapse: No Gold at Busang 21:30 Is Michael de Guzman Still Alive? 25:00 The Real Lesson of the Bre-X Scandal