A new reality show pitting teams of contestants against one another to see who can lose the most money to waste, fraud and corruption will have its premiere on CNBC. Dubbed “Missing Billions,” the show is inspired by news stories of rampant fraud and financial mismanagement across multiple sectors from government, the military, banking, finance and nonprofit organizations.
“The recent FTX scandal shows what’s possible when you put a group of enterprising young people in an apartment together and give them access to billions of dollars. The level of corruption and fraud is astounding. I mean, the company’s founder Sam Bankman Fried loaned himself a billion dollars in walking around money. Leave it to those nutty young people to do something so daring, so nakedly corrupt and stupid,” said the show’s creator Lanny Milken.
Missing Billions’ producers say they will not just limit the pool of contestants to private sector shysters. Teams from government and the public sector will be called upon to put their talent for fraud and abuse on display as well.
“There is a potential emerging scandal coming out of the Pentagon over possible mismanagement of billions in military aid to Ukraine. Of course, we’re all aware of the Pentagon’s ability to disappear billions of dollars in Afghanistan and Iraq. Congressional appropriators and the military are unmatched when it comes to shoveling dough into a black hole. We would be remiss not to showcase their talents on our show,” Milken said.
Missing Billions also plans to feature bad actors from the world of charities and nonprofits.
“Probably the hottest growth area for financial fraud is the nonprofit sector. It was recently revealed that 47 people in Minnesota were charged in a fraud scheme to steal $250 million from a federal program that provides meals to low-income children. Much of the misappropriation of funds involved a nonprofit called Feeding Our Future. Overall, the Department of Justice is investigating more than $8 billion dollars in suspected pandemic fraud. Turns out even the do-gooders are do-badders,” Milken said.
Missing Billions will feature all the secret schemes, dirty tricks and classic corruption. “All will be revealed,” Milken promises. “A wise man once said, ‘You don’t know who’s swimming naked until the tide goes out.’”