Mr Johncock vs Bank of America: New podcast gives case update
Highlighting the lack of transparency in financial services
A new podcast digs into the case of a CIO who lost his life savings to a scammer, and the failings of the regulator and industry that should have protected him.
In 2018, Wayne Johncock met Rajesh Ghedia. Eighteen months later, the former CIO had lost £180,000 to the scammer, who was jailed in 2022.
Bank of America, where Ghedia was employed and whose name and IT infrastructure he used to sell his lie, has refused to take any responsibility.
Computing has been covering the story for years now, first in a 2023 feature and later following up with the Information Commissioner’s Office – where we found discrepancies between what the regulator said in relation to this case and what it was willing to admit in a live chat.
Wayne also joined us at the Cybersecurity Festival 2024, agreeing to be interviewed live on stage and answer questions from IT leaders in the audience – a session delegates noted for both its honesty and its concerning subject.
The latest update on the case will be discussed in a new podcast on 25th February hosted by Transparency Task Force, which aims to raise awareness around the lack of transparency in financial services.
Wayne will join TTF founder Andy Agathangelou to go over the history of the case: how Ghedia committed his crime, how he remained hidden from law enforcement, and how he exploited security weaknesses within Bank of America.
It will also look at how Wayne was able to expose those crimes, the fallout from having done so - including legal threats and bankruptcy – and the treatment of whistleblowers in the finance industry.
Finally, the podcast will review where the case is now, and how interested parties can help.
Click here to listen to the podcast on 25th February, and here to watch more about the story in documentary series The Big Swindle.