About Roddy Boyd

I’ve been doing investigative journalism to promote corporate accountability for several decades. (Before that, I had a stint on Wall Street.)

My career path included Institutional Investor News, The New York Sun, the New York Post’s business desk, and Fortune Magazine. In 2011, I wrote Fatal Risk, a book about AIG’s collapse during the global financial crisis.

Most recently, between 2011 and 2021, I founded and ran the Foundation for Financial Journalism, a non-profit journalism organization.

A tab on FFJ’s homepage archived a few interviews I did over the years about this work. My favorite is a 2017 interview with the Nieman Foundation’s NiemanLab.

Despite its modest size, FFJ did some vital work: A series of articles I wrote on Valeant Pharmaceuticals International and Insys Therapeutics were the first to flag issues that became the centerpiece of the Department of Justice’s indictments against executives at both companies. (In both cases, the DOJ obtained convictions, and these executives were sentenced to prison.)

Many other FFJ investigations were notable for the highly detailed reporting that illuminated the troubling business practices of publicly traded companies that, with some regularity, culminated in regulatory or shareholder litigation.

Examples include a four-article series on Wirecard in 2018-2019, a pair of articles in 2020 and 2021 on Freedom Holding, a 2020 investigation of Penumbra, a 2019 investigation into Corcept Therapeutics, the four articles published between 2018 and 2021 about Canadian financier Newton Glassman, a pair of 2017 articles on Synchronoss Technologies, and a trio of articles between 2014 and 2016 on the Karfunkel Brothers — the founders of AmTrust Financial Services — and their questionable use of philanthropies.

(To be sure, while my reporting was critical on many of these articles, other reporters did excellent work on these companies. For example, The Globe and Mail’s Kimberley Noble’s brilliant work on Brookfield’s corporate predecessor, Edper Investments. More recently, The Financial Times’ Dan McCrum and his defining work on Wirecard.)

However, despite the publication of reporting that puts a company’s dubious conduct into stark relief, sometimes nothing happens. Regardless, my 2017 reporting on DaVita speaks for itself. FFJ’s series of articles on Brookfield Asset Management, over 15 months between 2013 and 2014, was groundbreaking because it pulled apart one of the world’s most opaque corporate control structures.

A word of disclosure: Between February 2022 and April 2023, I used a so-called balance sheet partner to finance a series of investigations. Since April 2023, I have had no connection to short-selling. Those four articles will soon be hosted under the “Prior Investigations” tab.

Below, I’ve selected some representative articles from earlier in my career. I broke some of these stories. In others, like Refco, my reporting perhaps reframed the conversation. Note that some of these publication’s archives were spotty or even nonexistent, so the articles were retrieved elsewhere.

Biovail: The corporate predecessor of Valeant Pharmaceuticals. Its business model was apparently “issuer retaliation.” Trash Stalkers, N.Y. Post, March 3, 2006 and Biovail’s Hubris Exposed, Fortune, May 20, 2008

Fairfax Financial Holdings: The OG tax and regulatory jurisdiction arbitrageurs. Island Hoppers, N.Y. Post July 22, 2006, Fairfax Discreet Sheet, August 8, 2006, and Odyssey Tax Deal, August 31, 2006

Morgan Stanley’s chief technical officer’s Breach of Ethics. N.Y. Post, January 27, 2006, and his Batty Requests, January 31, 2006

Refco: The CFO of Refco’s undisclosed $46 million departure payment. N.Y. Post, October 18, 2005

Optionable Inc.: A chronicle of the hidden sleaziness of a publicly traded futures brokerage. It’s All in the Family, N.Y. Post, April 16, 2007, Bank’s $400 Million Loss on Gas Bets, April 28, 2007

Rudy Giuliani: “America’s mayor” caught playing in the capital markets trash can. N.Y. Post, February 27, 2006

Arthrocare: A once high-flying surgical device maker nailed for inflating revenues. N.Y. Post, December 11, 2007, and battles the short sellers, Fortune, February 6, 2008

Bear StearnsThe Last Days of Bear Stearns, Fortune, March 31, 2008

Lehman BrothersHow Lehman Lost its Way, Fortune, July 2, 2008

AIG: Hank’s Last Stand, Fortune, October 7, 2008

China MediaExpress: One of the all-time great Chinese reverse merger frauds, which is saying a great deal. Fiction’s End, The Financial Investigator, March 13, 2011

Spongetech: One of the most amusing, NYC-centric frauds ever. Spongetech is All Wet, The Big Money (Slate.com), September 30, 2009, and The Dirty Sponge Men and Their Magical Share Issuance Machine, The Financial Investigator, June 3, 2010

Overstock.com: Before former CEO Patrick Byrne bankrolled overturning the 2020 election or his admission of a fling with a woman who would later be accused as a Russian spy, he spat venom at those who wrote critically of his struggling closeout retailer. America’s Nastiest CEO, The Big Money (Slate.com), January 20, 2010