Unmasking Fool's Gold: 6 Astounding Aspects of the Bre-X Mining Scandal

2. The Players

Key players in the Bre-X scandal included David Walsh, the founder of Bre-X, and geologist Michael de Guzman. This section explores their roles in the scandal and their ultimate fates. David Walsh, a stockbroker turned mining entrepreneur, founded Bre-X in 1989. He was the driving force behind the company, leading it to its supposed gold discovery. However, when the scandal broke, Walsh denied any knowledge of the fraud, claiming he was as surprised as anyone. Michael de Guzman was the mastermind behind the gold salting operation. He committed suicide in 1997, just days before the fraud was exposed, jumping from a helicopter in the Indonesian jungle.