Michael de Guzman

Bre-X Minerals Ltd. was a Canadian company that perpetrated a major fraud when it claimed that there was an enormous gold deposit at its gold mine in Busang, East Kalimantan, Indonesia. However, samples from the mine were "salted" and, in reality, the mine did not contain much gold at all; an estimated 40,000 investors were defrauded and lost their entire investments.