Pyramid of Lies

The Prime Minister, the Banker and the Billion Pound Scandal

By: Duncan Mavin

Narrated by: Duncan Mavin

An epic true story of ambition, greed and hubris that nearly brought down the British government.

'The British version of Bad Blood . . . [but] better' – The Sunday Times

'Terrific' – The Observer, Book of the Week

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.

‘Forensic and riveting’ – The New Statesman

‘Meticulously researched’ – The Daily Telegraph

Critic reviews

Unputdownably delicious . . . the British version of Bad Blood . . . [but] better

Terrific . . . shows the emptiness behind the bombast (Nick Cohen, The Observer, Book of the Week)

A meticulously researched and enjoyably lively account

Forensic and riveting

An incredible book, transforming a complex financial scandal into a rich character drama (Bradley Hope, co-author of New York Times bestseller Billion Dollar Whale)

Quite simply, one of the best books of investigative journalism I have ever read. Duncan Mavin is a natural story-teller and a brilliant sleuth (Matthew d’Ancona, author of Post-Truth)

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)

The extraordinary story of Greensill’s rise and collapse is a microcosm of global finance in the last decade . . . a keen eye for the colourful - and at times absurd - human drama (Peter Thal Larsen, EMEA Editor Reuters Breakingviews)

The definitive account of the Greensill Capital’s rise and spectacular meltdown . . . and a searing inquisition into the political connections that make it all possible (Mary Childs, cohost of NPR's Planet Money and author of The Bond King)

A classic cautionary tale, as fun to read as it is disturbing. Meticulously reported and brilliantly narrated (Katherine Bell, formerly Editor in Chief, Quartz and Barron’s)

Mavin expertly unfolds a searing, unflinching, incisive, and definitively reported narrative on one of the great financial scandals of our time and the wreckage left in its wake . . . a must-read cautionary tale (Sean Silcoff, co-author, Losing the Signal: The Spectacular Rise and Fall of BlackBerry)

A keen eye for the colourful and at times absurd human drama

Powerful

Mavin knows how to keep you hooked . . . gripping

Amazing!!!! Gets deep into the full story with all key players.

The narrator told the story great with a business tonality of a Bloomberg news reader. The story goes into depth about Lex’s childhood in Australia to his rise in the city of London as a banker. Business jargon and financial terminology are explained for listeners who are not from an investment banking background.

Great listen

If you want to learn about supply chain finance and key items to look out for, this is a great listen.

Great Book; Tale as old as Time

Classic story of hubris, greed and bad decisions… then worse decisions trying to fix the original bad ones. Really enjoyed this book.

Could not quite get into it

The writing is good, the narration is good, but the events are just not all that salacious. It is hard to get too fired up about an obscure supply chain finance company you have never heard of.

Enthralling recount of events!

Hard to stop listening towards end, near end, well documented recount of events, amazing web of lies bordering on fraud. Throughly recommend.