Beyond the Fraud Triangle

When I was first introduced to Minkow through the ZZZZ Best scam, I thought I had him figured out. He was a business owner who was borrowing more than he was making, in order to keep his business alive. However, if he wanted to keep borrowing money, investors would need valid reasons, so he decided to make some up. As terrible of an act that it was, at least for me, it’s one I can wrap my head around; even if I can’t understand how he actually went through with it, I understand why.

His later scams, involving Lennar and the members of his church, however, make me rethink any notions I had earlier. At this point, I no longer believe Minkow was in it for the money, if he ever even really was. Where I used to believe Minkow’s perceived pressure most likely played the largest role in his fraudulent activities, these cases made me realize that any pressures Minkow faced were likely from within him, rather than without. For Minkow, lying and deceit seemed to be tools, something he could bring out any time he “needed” them.