The systems that let it happen.
Moral Hazard covers financial fraud, predatory schemes, political corruption, and institutional failure — at every level. From a federal securities case to a scam running out of a strip mall in New Jersey.
Reported carefully. Explained so anyone can understand it. Held to a journalistic standard, because these stories deserve one.
Fully reported flagship episodes. 35–50 minutes. The mechanism, the harm, the systemic failure. Released every 3–4 weeks.
News-reactive episodes covering active cases as they unfold. 20–25 minutes. Transparent about what's alleged versus proven.
Every episode closes the same way. The specific moments the system could have intervened — and didn't. Named. Listed. Plainly.
A bi-weekly newsletter covering cases in the news that didn't make it to a full episode. Three items. One recommendation. Under 400 words. The gap between what gets reported and what actually happened.
Also available on Substack. No spam. No sponsored content. Unsubscribe at any time.
Securities fraud, Ponzi schemes, accounting manipulation, predatory lending.
Immigration scams, affinity fraud, consumer fraud targeting vulnerable communities.
Campaign finance abuse, pay-to-play contracting, regulatory capture.
Regulatory gaps, oversight failures, systems designed to produce bad outcomes.
Historical deep dives. Frauds that unfolded over decades. The past illuminating the present.
There are two versions of how money works. There's the version in the prospectus — the clean narrative, the projected returns, the risk disclosures written to protect the issuer rather than inform the investor.
And then there's the version in the back office, where T.M. Farah has spent a decade working in fund administration across hedge funds, private equity, and venture capital: reconciling the books, processing the capital calls, watching the gap between presentation and reality up close.
In parallel with that, years working inside political systems — enough time to understand that the mechanics of financial fraud and the mechanics of political corruption are often the same story told in different rooms.
An academic background in history and politics. Disciplines that ask not just what happened, but why the same things keep happening — and who benefits from the fact that they do.
Moral Hazard is where those three things converge. Most of what stays hidden doesn't hide in complexity. It hides in the assumption that you wouldn't understand it if someone explained it properly.
Cases covered on Moral Hazard that remain in active litigation or investigation. Updated as developments occur. We follow up — always.
| Case | Summary | Jurisdiction | Status | Last Updated |
|---|---|---|---|---|
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CM Bufete De Abogados
Immigration Fraud
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Five defendants charged with wire fraud, money laundering, and impersonation of federal officers. Operated a fake immigration law firm targeting Spanish-speaking communities via Facebook. Staged fake court hearings with defendants in costume. Three arrested at Newark Airport attempting to flee to Colombia.
|
E.D.N.Y. Brooklyn Federal Court |
Active | Feb 2026 |
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To Be Added
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Cases covered in future episodes will be tracked here as the show grows. Each entry links to the relevant episode, primary sources, and case docket where available.
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Pending | — |
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