How a Polygamist Used Biofuel to Steal $500 Million
Вставка
- Опубліковано 30 тра 2024
- Jacob Kingston, a member of a controversial Mormon offshoot known as "the Order," pleaded guilty to the largest biofuel scam in U.S. history. This is how he was seduced by a flashy L.A. businessman, and how the partnership ultimately led to their downfall.
For more about the biofuel scandal, check out Jesse Hyde and David Voreacos' reporting in Bloomberg Businessweek:
www.bloomberg.com/news/featur...
#TrueCrime #Storylines #BloombergBusinessweek
--------
Like this video? Subscribe: ua-cam.com/users/Bloomberg?sub_...
Become a Quicktake Member for exclusive perks: ua-cam.com/users/bloombergjoin
QuickTake Originals is Bloomberg's official premium video channel. We bring you insights and analysis from business, science, and technology experts who are shaping our future. We’re home to Hello World, Giant Leap, Storylines, and the series powering CityLab, Bloomberg Businessweek, Bloomberg Green, and much more.
Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.
Visit our partner channel QuickTake News for breaking global news and insight in an instant.
For more about the biofuel scandal, check out Jesse Hyde and David Voreacos' reporting in Bloomberg Businessweek:
www.bloomberg.com/news/features/2019-06-24/the-polygamist-who-allegedly-scammed-the-u-s-out-of-a-half-billion-dollars?sref=zU1fOhDr
Now do The Bundy's and their All Mormon Militia traipsing around their Mormon controlled towns inside their imaginary nation of Deseret
Here in Portugal with the BES case (Banco Espírito Santo) in loans and robberies this case is crumbs!
Polygamist + Biofuel + $500M... Never knew you could use them in one sentence.
Yea, i dont get why its relevant that he is polygamist. Who cares?
@@thedude5001 That's illegal too.
@@thedude5001 it's relevant because that polygamy is illegal is the reason why he hates the government and why he cooked up this plan
@@lolhead7127 polygamy 1 guy with multiple wife n still feed their wife n children..? what the difference between a black man impregnate multiple black woman n left them?
@@toytulog576 you didn't need to add black man/woman in this do you? Are you trying to start something?
And to answer your question polygamy also exists in some countries and it is totally upto the people involved in the relationship and the law, and one man leaving women after impregnating them I'll assume there it was consensual here if the woman demands for security and money it is her right and if she can take legal steps, the difference you can understand is one here is marrying people and starting to further their relationship here and the other is consensual coitus and then the end of relationship according to your question
In the end, he did succeed in his mission of costing the government an awful lot of money.
Money doesn't mean much, if the USA government keep the printing press rolling..paper with a number.
Added all these politicians wages combined..... its a drop in the ocean..
Irony, he's still costing government money, for the 30 or however many years he'll served.
I can't believe it !
*_No Chinese criminal gang ? No Chinese spy ring ? No stolen US Intellectual Properties ?_*
No crime would happened in America without links to *_Big Bad China_*_ !_
@@mizzypoo4827 he took from our pockets. We pay taxes every month so guys like thus can have 5 wives and drive 1 million dollar cars... if you think thats okay than i wont argue anymore
@@creatineenjoyer7345 Taxdollars go to all sorts of things none of us like.
Whether it's aid to countries we don't like, or fighting wars we don't support, or buying some mormon we don't like supercars.
I'd be a lot angrier if he was stealing money that wasn't already haphazardly allocated by an incompetent government in a way that makes stealing it easy.
@Rajmund Csombordi Fire departments and roads is theft !
I never know I want to learn about these things, but these videos are extremely well made and I always look forward to them!
I find them so amusing - and mainly because of how much I don't anticipate them.
Once upon a time Bloomberg created a *_news_* accusing China of planting *_listening device_* into every。 single。 computer。 motherboard。
Bloomberg ought to continue that *_extraordinary tradition_* by making videos linking all the crimes committed inside the United States to that *_Big。 Bad。 China。_*
You SHOULD
I'm sure you will wanna hear about billions given away..to think no ID needed..apply & say I have 5 employees..you get 1-3 million
U had PEOPLE using one bedroom as Farm .
My only complaint was where they put Utah on the map... Way off.
😂😂
The 108 dislikes are from the Kingston family themselves.
yes, one husband and all his wives
I read longform
It was unreal
Pay the small PEOPLE
Cheat them and someone will listen dirty bulk fuel around the world to gain the system
They multiple like rabbits. 151 now
The wives!!
You literally are not wrong XD
"The polygamist underworld" is a phrase that reminds me that truth is stranger than fiction
It’s totally a thing and the Kingston clan are the worst of it
🤣🤣🤣🤣🤣
@@war5561 What about the FLDs that had child marriage.
Booooooooom🍺
This has the makings of a Netflix drama 😜
IF there a SCAM to be had... someone will come up with one, that's more outrages then the next.
It was. I watched the 2 hour show a year ago or so.
@@RSofio I’ll add it to the list then 😊
If you have 7 kids and a third of a husband you might need help from the fed...
lol
Or help from anyone
Government is rarely the solution to any problem - nor is a mob.
If you have 7 kids you need to be spayed like a friggin cat. That should just be automatic. Too many kids, looking for welfare? First you're getting snipped.
😅😅😅👌
These quick take pieces are such great journalism and you tell the story so well. I hope you will continue to make them.
This could not have been more disjointed and uninteresting...
So he had made over $200M before he was caught? Would he have been able to keep the money had he stopped committing the fraud or made the numbers more realistic? If your not satisfied after $100M, idk what to tell you.
you can't even buy your owen satellite its not enough anymore the value of the dollar is going doing wages going up making everything more expensive
Theoretically yes, practically no. Greed is undoubtable a huge part, but stopping is probably harder and less safe than you think. You've built whole departments for your fraud, baked it into processes/accounting throughout, and taught your people to do all these "normal" things. Changing those things would be hard, your fellow fraudsters might not like it, stopping doing those things makes them weird, and risks showing more/new information throughout. It also doesn't reduce risk that much, those processes and paperwork are already on the books, making "more" of the same probably doesn't change the risk of successful investigation as much as you would think. If it didn't raise red flags before, it probably won't moving forward. If it already raised red flags, and started inquiries, doing more of it probably won't change the outcome but gives you more money.
Basically at this scale since you don't know if you're already caught or not you might as well steal more. It doesn't make the crime that much less likely to get caught but makes you massively richer which you can use for significant advantages (legal defense, hiding it, etc).
@@ulysesj-a9659 it's 100 million dollars dude. Lol. That's a lot of money buy any standards. What are you talking about?
Stopping won’t help.
With that many wives dude is selfish.
Definitely need a full multi part documentary on this!
And call it Polydiesal
One of the best journalistic series on youtube
WIRED magazine had a GREAT article on this a few months back. One of the BEST reads I have ever come by. Bloomberg touched on most of the story but I highly suggest reading the WIRED article.
I have not read it but I think it puts poly people in a bad light that has nothing to do with being poly.
@@jungtarcph When and if you do read it... and I REALLY hope you do; it doesn't have any negative connotation to polygamy. It just gives you a background to Jacob's life. His rise and fall. They never mentioned anything in the article negative to poly. It was a totally neutral story about two men that made millions and probably billions and then eventually fell.
@@jungtarcph what makes these polys look bad is their own "bleeding of the beast" hubris.
Don’t stop this phenomenal journalism! I love it
I don't like how much polygamy has been talked about recently, like they're trying to get people to feel like its normal
It is normal . It's just an option we have half the male ancestors as we do female because few men procreate with multiple women. As long as scrooge is consenting and everyone is taken care of I see no issue. Monogamy is rather recent
they are consenting adults. Whatever model for a family/relationship they choose and if the both sides are fine with it - why not? I hear the children grow up to be quite healthy too, as they have a lot of siblings and are cared for.
@@triad6425 yeah modern medicine is quite recent. And so is proper car safety... What's your point?
If homosexuality is normal, if transgenderism is normal, I don't get why Polygamy is where we draw the line. I'd argue its a lot more "normal" than either of those two things, having been an accepted part of many human societies for a long time.
@@simonphoenix3789 i personally dont find any problem with polygamy but the way i have seen it done especially in churches like this i have a problem with like if you have 2 or 3 wives and are able to support them all and be kind to them all without any favoritism (which is basically impossible) thats fine but also if they have kids you need to make sure all of them from each wives actually have a father that dont just visit every few weeks and honestly i have never seen polygamy done the right way so thats probably why its unacceptable
I'd pick these videos over a Netflix subscription.
Shhhhh!
Some more details. Levon not only had regular police working for him but also FBI and CIA agents. Not just agents in the US but also in Turkey, Spain, Belize, Armenia and many other places.
He was also known for giving away a lot money to people here in SoCal
Wow. Very very interesting. Two dudes that did the investigation really did some solid digging. Thank you for the info!
These videos are very well made
great doc i want more
These videos are brilliant
Love these investigative pieces
Polygamist, Biofuel, 500 Million. This is how I want my UA-cam recommendations.
I've been in Utah most my life, never heard of this until today. Fascinating information about these folks. Thanks for sharing.
There are SO MANY thieves out there walking on Earth....
Starting with the government.
He hasn’t done anything worse then most of our sitting Politicians.
Great story!
Greed always take these type of guys out.
Imagine being so thick, that you make a half BILLION dollars, & decide to just keep going until the inevitable letter of the law catches up with you, I mean, that's never work again for 6 lifetimes money......
greed knows no limits...
its not enough to have multiple mansions and 20 companies and a private jet...
its never enough
Anyone else get a 60 second ad with no skip button? Never seen that on yt before
I don't get any ads on youtube.
Nope 30 sec. Is the limit
@@shravansays it was a fedex ad and there was literally no skip button. Refreshed the video and it was fine just never seen that before
If HBO combined Big Love and Bernie Madof into a series.
These Quicktakes are amazing ... actually good content coming from the MSM
"And for whatever reason he chose the latter" bad choice of a verbal filler lol
People are greedy, end of story.
Bloomberg Quicktake FTW
Feel like for a quicktake, this spent ages stressing the "lifestyle of the rich and famous" and none on the scam
Right? I still don't know what that's all about. Bloomberg did a clickbait.
I don’t really need to know how numbers were fudged between numerous companies by a staff of lawyers and accountants- boring! No thanks!
The interest lies in how greed, even more so(!), consumed a polygamist….
@@TheThora17 no you are wrong
Amazing story
if two men can get married, why can't one man marry two women
That title is three punches to the face
👊🏻👊🏻👊🏻
Haha!
As I read the title, I flinched in my head like 3 times!
Shout out to Chris Jones at 13:33 for such great smooth reporting.
Who wouldn’t be seduced by fast cars, private jets, and yachts?! LOL
people who aren't shallow
@@clumsytriangle2436 oh please.. spare us the moral indignation
They look like psychopaths @ 13:49. Fast money is dangerous. People forget to cover their tracks, next thing, back to being broke.
man could have set a deadline to stop their crime. $100M is sufficient enough to run more legtimate companies and surround himself with law-abiding, morally upright, highly educated and highly intelligent management team.
Known him for decades and he said he did nothing wrong so it must be true. Thats the defense? No wonder he was convicted.
Yeah he got the wrong defense lawyer.
One major lesson is that governments should never be allowed to get involved directly with business using taxpayers money. It’s a great way for fraud all over the world and is known as a great fraudulent opportunity by people all over the world.
Im convinced that this entire video was generated by an AI with the input (polygamist, biofeul, millionaire)
Joseph Smith and Brigham Young would be proud of them
I can't get my mind to understand why polygamy is illegal when all parties agree.
It’s illegal??!!
It is a crime punishable by a fine or imprisonment (according to Google)
@@mnikelonkatazo religion
@@ji-di7zr its a legal problem who gets what in a divorce or a death?
what does polygamy have to do anything with his scam? could have just easily called him the Mormon who stole 500 million dollars
That title is like something from Mad Libs.
biden is your president for 8 more years
Is there a reason why the focus of the lawsuit is focusing on Lev (the migrant) instead of Kingston who got his sentence reduced for cooperation?
Easy rational: AG probably knows it is easier to convince the jurors that this 'foreign' unscrupulous biz man corrupted an All American Mid West.
Seems like someone rolled over.
@@MayorSom Yeah thats what I thought, it shows the racism thats part of the justice system.
He stabbed the guy in the back.
Novice here. Do weird things like polygamy always and only happen in Utah?
I hate that expression - ultimately he paid the ultimate price. Wait, were his organs harvested while he was awake and without anesthetics? Nope - OK I guess her didn't pay the ultimate price. Did the tax payers get all the money back including their own legal fees - nope - didn't think so. Is he paying for his own imprisonment or will taxpayers be on the hook for $40K per year - Yep - thought so.
wait, he got his PhD in engineering, yet they want to scam the system that gave him that degree? ok that's twisted...
He was already a multi-millionaire when he decided to turn into a true scumbag, he was already a scumbag with three wives and 20 kids and had everything any man could want material wise before he wanted the world and that was his downfall, people are greedy and money is the root of all evil and that's just the bottom line.
That title alone is a winner
That stimmy
Awwh comon man... Stop at like $50 million lol
Lately, I've been wondering what Lamborghini is thinking about their brand now that EVERY SINGLE scammer in the world has one.
The last time I was this early Bloomberg had a different logo 🤭🤭
does RICO not apply? Like literally family crime
should be on a "Make It" series
9:20
"he started wearing cologne"
Smelling nice is a flex in the US? I didn't know.
“Starting cut his hair differently”
Not only smelling nice but also looking presentable.
@@FabioTheGreat Such a strange comment to make. You'd think the US is filled with unkempt individuals roaming the streets.
In the American interior west cologne is considered genuinely and bizarrely fancy lol... most men just smell like deodorant for better or worse
@@DarkshadeMusic I believe there are millions of homeless in US. They say only in San Francisco area there may be up to 800 000 of homeless people. Don't think they have presentable look and cologne as their life’s first priority. This is not to say that this is US only problem. There is poverty all around the globe.
🤣
Wait Desertec? That Desertec, of MDR fame?!
So how can they qualify as a third wife if polygamy is illegal to begin with?
Well, they are just "married" in their own little cult world. For the gov they are single mothers which plays nicely into their pockets.
@@fantscher correct! So technically, basing on official govt documents they are not married. As a matter of fact, their ceremony is illegal. So they should be able to claim govt benefits related to being a single mother like childcare subsidy and so on.
@@JunixKuizon Dang it. Actually that makes sense 😂 the only differentiator being, that they share housing costs etc and are not actually taking care of the children all by themselves. So I guess they illegal part would be to not claim that part.
Horrible store tellers man I was falling asleep
Smh they got too greedy 🙄 what’s wrong with just taking a few million and settling down. There was no need in keeping the operation going they got what they deserved tbh
Quitting while you're ahead is not the same as quitting.
The governement sure does not like competition
Isaiah was way too happy 😆
I've seen this on leaving polygamy one of those big cable network's
I get the feeling that known fraud is like known drug smuggling. We catch a very, very , very small percentage of the total fraud. Begs the question, in your life, how often is the hotel, business, commercial real estate, etc payed for and exists because of laundered money.
Just come to Los Angeles and it's non stop business made all for nothing to wash money
Danm and I get caught up for J walking .
Who doesn't want to be friends with a guy called "The Lion"? lol
makes u just raelly hate polygamists. but it's almost like... being a criminal is more of an accurate way to refer to someone instead of their # of wives
You forgot that he probably wears magic underwear, too.
Yeah okay a guy named Lev who looks like that and calls himself the lion did nothing wrong.
Started wearing Cologne lol hahaha 🤣
Got caught
The Salad oil scandal all over again.
the MONSTER called FAME...😂😂🤣
The only thing I'm curious about is if the people that work at Bloomberg actually know where Utah is?
A story of the self-made man we are not asking for
reminds me of the mafia and gass stations
Sezgin Baran Korkmaz için izleyenler?
Trivia du jour: at 11:30, note that "the East coast of Panama" is west of "the West coast of Panama."
The northern and more easterly one, on the Caribbean, is west of the southern and more easterly one, on the Pacific.
grazie
So theoretically they could turn human bodies into B100 fuel
This country is so corrupt
Lmaoooo never fuck with IRS
Teach me Master ...I the student wants to learn
Life in prison for tax evasion big oof
Not tax evasion, more like... tax stealing?
Did Joker escape from the IRS?
exactly..fail only for : it was not big enough in the system....so if you want look at real fraud that going on for more than 400 years.... then check out the deep state instead. . Today 1 family control natural resources, telecommunication and electric power infrastructure in 182 countries...the one who control telecommunication...not only control MSM and Silicon V. Tech´s.... but also.... the global intelligence collective and all there interceptions and activities...and by a coincidence that single Swedish family together with Swedish administration also use the FRA law, most of politicians, Academia, the authorities, central banks, largest companies, Nasdaq and institutions ... when manage the criminality, money laundering and corruption ( like electoral fraud) to educate and lead the global deep state and the global elite...there family motto is operate without being seen and rule by divide. There biggest weapons are mind control... so smart check up Red Bee Media and Dreamscape and then you understand why so many are sleepy domesticated All hidden powers erodes when known...now you also know...then you are part of the resistance. As TRUMP said it´s in your interest to NOT buy Coca Cola, It´s in all individuals interest to know the enemy to them, there country and world.
For whatever reason? It's called lot and lot of moola bro!!
0:44 close your eyes you hear *Howie Stern*
So how much do you guys pay for diesel in the US? 2 dollar subsidies for 1 gallon of bio-fuel. I thought you guys payed about 2 dollars for a gallon of fuel.
This was similar to Crazy Eddies scam.
What does poligamy has to do with his fraud? Why was that even relevant for the article?
The fraud created 20 new wards of the state when moms and dad went to prison? I see your point.
Lev Dermen became rich when he made the movie with Borat Sagdiyev.
Bleed the beast while becoming the beast.💲💰💰💰💲
Mark Geragos, wow
And as always, the greedy bankers always save the day, @14:12
exactly.. it was not big enough in the system....so if you want look at real fraud that going on for more than 400 years.... then check out the deep state instead. . Today 1 family control natural resources, telecommunication and electric power infrastructure in 182 countries...the one who control telecommunication...not only control MSM and Silicon V. Tech´s.... but also.... the global intelligence collective and all there interceptions and activities...and by a coincidence that single Swedish family together with Swedish administration also use the FRA law, most of politicians, Academia, the authorities, central banks, largest companies, Nasdaq and institutions ... when manage the criminality, money laundering and corruption ( like electoral fraud) to educate and lead the global deep state and the global elite...there family motto is operate without being seen and rule by divide. There biggest weapons are mind control... so smart check up Red Bee Media and Dreamscape and then you understand why so many are sleepy domesticated All hidden powers erodes when known...now you also know...then you are part of the resistance. As TRUMP said it´s in your interest to NOT buy Coca Cola, It´s in all individuals interest to know the enemy to them, there country and world.
where all the stimulus went
That's my family LoL