The Pyramid of Lies
An epic true story about ambition, greed and hubris, updated for the 21st Century.
In March 2021, an obscure financial technology company called Greensill Capital collapsed, going into administration. As it unravelled, a multibillion-dollar scandal emerged that would shake the very foundations of the British political system, drawing in swiss bankers, global CEOs, and world leaders, including former British Prime Minister, David Cameron. At the centre was an Australian financier named Lex Greensill.
Pyramid of Lies charts the meteoric rise and spectacular downfall of Greensill and his company. He had a simple idea – democratising supply chain finance – and disrupted a trillion dollar industry in the process. But a staid business model concealed dubious practices as Greensill made increasingly risky loans to fraudulent companies using other people’s money.
Financial journalist Duncan Mavin, who has reported on the scandal for over three years, tells the incredible story of how a former sugar-cane farmer would go on to put tens of thousands of jobs at risk and gain unfettered access to the inner workings of the British government. With a globe-circling narrative full of scandal and intrigue, Pyramid of Lies reveals how the grubby world of shadow banking really operates.
An incredible book, transforming a complex financial scandal into a rich character drama. The details bringing you inside the room as this improbable tower of deceit comes toppling down are what makes it worth reading to the end
Bradley Hope, co-author of New York Times bestseller Billion Dollar Whale
The complete inside story of Greensill’s rise and fall. Pyramid of Lies leaves little doubt that much is indeed wrong in the excessively close relationship between some financiers and politicians . . . [who] stood to gain millions of pounds
Simon Clark, author of The Key Man
Mavin expertly demystifies the rise and fall of Greensill Capital and weaves an intriguing tale at the cross section of sleaze, power and greed at the heart of UK politics and global finance. A fascinating - and prescient - read
Karl Holbrook, Executive Editor, Daily Express