How Fraud Became A Winning Strategy

Weakened fraud enforcement and asymmetric penalties have made fraud a rationally profitable strategy across sports, finance, and government.

• Manchester City ruling: Found guilty on 114 counts of financial fraud, misrepresenting finances by roughly £900 million via sham contracts since 2009, calling into question eight Premier League titles.
• Sports fraud spreads: LA Clippers owner Steve Ballmer faked endorsements to pay players illegally; Atlanta Hawks finance chief admitted a $3.7M fraud; a sports-club investor was indicted for $500M fraud.

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