Audiobook Length: 7 hours and 13 minutes
Rating: 5 out of 5 stars
Genre: Nonfiction, True Crime, Business, Finance, White Collar Crime
Published Date: November 7, 2023
Read Start Date: January 25, 2024
Read Finish Date: January 27, 2024
Goodreads’ Synopsis: In Pirate Cove, Richard D. Bailey provides an insider’s chronicle of a white-collar crime whose headline-grabbing elements first appeared on the front pages of The Wall Street Journal. It’s the true, unvarnished, complete, previously untold, and fascinating story of how one honest man helped unravel the massive Southport Lane fraud perpetrated by the author’s former employer, 26-year-old, self-proclaimed financial prodigy Alexander Chatfield Burns. A really smart friend of the author once asked Burns how he got control of four state-regulated insurance companies. With a Cheshire cat grin, Burns cryptically responded, “Jesus with a telescope on Mars couldn’t figure out how I did this.” But the author eventually did. If (and when) Pirate Cove is made into a movie, it’ll stand right alongside such successful dramedies as American Hustle, Can You Ever Forgive Me, Bad Education, White Collar Crime, The Wolf of Wall Street, and Michael Clayton.
My Review: I received this audiobook from Netgalley in exchange for an honest review. I grew up in Westport, CT, and went to Staples High School. Alexander Chatfield Burns, a.k.a. “Lex Burns,” was in the Freshman class of 2001. Although I had already graduated by then, my younger sister remembers him as being “weird,” and that he always thought he was smarter than everyone else. My sister’s memories of him reflect the man described in Pirate Cove. I was simply fascinated by this story.
Richard D. Bailey is a Certified Fraud Examiner. For over 30 years, he has provided actionable and realistic financial, management, and corporate development services to distressed public and private manufacturing, service, and distribution companies. He is brought into Southport Lane by an old friend, and upon investigation, strange exchanges and discrepancies lead him to suspect fraudulent activities at the heart of Southport’s operations.
This book is Bailey’s first-hand account of what he discovered, the ensuing FBI investigation, and the ultimate downfall of Alexander Chatfield Burns and his partner Andrew Scherr.
I found this book captivating and didn’t want to stop listening to it. I probably would have listened to it straight through if I had not had other things to do (like care for my daughter). Pirate Cove is a gripping and well-written account of a real-life financial scandal. Bailey’s insider perspective and willingness to share his experiences make the book even more fascinating. I highly recommend it to anyone interested in true crime or in learning more about financial fraud.
Disclosure of Material Connection: I received this book free from Netgalley. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.
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