An undercover operation in New York reveals a connection with Tehran.

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An undercover operation in New York reveals a connection with Tehran.
For more from the FT, sign up for the <a href="https://ftedit.onelink.me/Ju3k/uea0bgn7" data-saferedirecturl="https://www.google.com/url?q=https://ftedit.onelink.me/Ju3k/uea0bgn7&amp;source=gmail&amp;ust=1701959522822000&amp;usg=AOvVaw2AfgEHHJ2RnCMThfAwnP4H">FT Edit App</a>. To listen to Hot Money ad free, subscribe to <a href="http://www.pushkin.fm/plus" data-saferedirecturl="https://www.google.com/url?q=http://www.pushkin.fm/plus&amp;source=gmail&amp;ust=1701959522822000&amp;usg=AOvVaw20IgYCeyfuXud-xgxZNBOU">Pushkin+</a>.

In 2020, the Financial Times exposed a €2 billion fraud at Wirecard, a high-flying German fintech. Many thought that was the end of the story. But for reporter Sam Jones, it was just the beginning.

This season on Hot Money: Agent of Chaos, Jones investigates Wirecard’s chief operating officer, who vanished just as Wirecard collapsed. And turned out to also be a Russian spy.

From an Ibizan sting operation to an attempted takeover of the Austrian intelligence service, his reporting spirals into a world of warlords, espionage, and disinformation.

All in an attempt to answer one question: Who is the real Jan Marsalek? And what does his secret life reveal about the powerful forces he serves?

In 2020, the Financial Times exposed a &euro;2 billion fraud at Wirecard, a high-flying German fintech. Many thought that was the end of the story. But for reporter Sam Jones, it was just the beginning.
This season on Hot Money: Agent of Chaos, Jones investigates Wirecard&rsquo;s chief operating officer, who vanished just as Wirecard collapsed. And turned out to also be a Russian spy.
From an Ibizan sting operation to an attempted takeover of the Austrian intelligence service, his reporting spirals into a world of warlords, espionage, and disinformation.
All in an attempt to answer one question: Who is the real Jan Marsalek? And what does his secret life reveal about the powerful forces he serves?

Hot Money: Agent of Chaos

Episode 6 - Ties with Tehran

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/d9d7e6f0-2953-4ad5-a2c3-b0dc01096f7d/transcript

Drilled is a true-crime climate change podcast exposing how corporate corruption and political operatives built decades of climate denial and delay. Hosted and reported by award-winning investigative climate journalists, led by Amy Westervelt, each season unravels new evidence of deception, disinformation, and the power structures keeping real climate solutions out of reach.

In September 2025, a group of Brazilian ministers trekked all the way to chilly North Dakota to see a presentation on a new type of clean energy project, one that promised to help them deliver Brazilian President Lula’s dream of turning Brazil into "the Saudi Arabia of sustainable aviation fuels." It was the latest in a string of projects from Midwest Republican kingmaker and corn ethanol magnate Bruce Rastetter, whose investments in Brazil might just transform him into a global carbon czar, even as his Summit pipeline carbon project faces fierce opposition from Iowa to North Dakota. The problem? It all requires loads of land and none of it does a thing about climate change.

Here's episode 1 of Drilled: Carbon Cowboys. Find Drilled wherever you get podcasts.

<a href="https://apple.co/4eEJ9zA">Drilled</a> is a true-crime climate change podcast exposing how corporate corruption and political operatives built decades of climate denial and delay. Hosted and reported by award-winning investigative climate journalists, led by Amy Westervelt, each season unravels new evidence of deception, disinformation, and the power structures keeping real climate solutions out of reach.
In September 2025, a group of Brazilian ministers trekked all the way to chilly North Dakota to see a presentation on a new type of clean energy project, one that promised to help them deliver Brazilian President Lula&rsquo;s dream of turning Brazil into "the Saudi Arabia of sustainable aviation fuels." It was the latest in a string of projects from Midwest Republican kingmaker and corn ethanol magnate Bruce Rastetter, whose investments in Brazil might just transform him into a global carbon czar, even as his Summit pipeline carbon project faces fierce opposition from Iowa to North Dakota. The problem? It all requires loads of land and none of it does a thing about climate change.
Here's episode 1 of <a href="https://apple.co/4eEJ9zA">Drilled: Carbon Cowboys</a>. Find Drilled wherever you get podcasts.

Introducing Drilled: Carbon Cowboys

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b1867fa1-47a6-4424-abe9-b43a01497c23/transcript

In this special bonus episode from The Financial Times, "The Broker" tells the story of how a failed baseball hopeful and disgraced stockbroker reinvented himself as one of America’s most consequential modern arms dealers.

From a family-run warehouse in Virginia Beach, Will Somerindyke built his company into a crucial conduit in the Pentagon’s covert supply chains — sourcing Soviet-era weapons for wars in Syria and Yemen before emerging as a central player in Ukraine’s fight against Russia.

As artillery shells became the most sought-after commodity of the war, he placed a multimillion-dollar bet on reviving crumbling Cold War factories in the Balkans, transforming himself from middleman to manufacturer.

Based on months of reporting, The Broker traces Somerindyke’s rise through the shadow world of privatized warfare — where geopolitics, profit and personal ambition collide — and reveals how modern conflicts are sustained not only by soldiers on the front lines, but by entrepreneurs who move the weapons behind the scenes.

This piece, written by the FT’s Miles Johnson, host of Hot Money Season 2: The New Narcos, was originally printed in FT Weekend.

In this special bonus episode from The Financial Times, "The Broker" tells the story of how a failed baseball hopeful and disgraced stockbroker reinvented himself as one of America&rsquo;s most consequential modern arms dealers.
From a family-run warehouse in Virginia Beach, Will Somerindyke built his company into a crucial conduit in the Pentagon&rsquo;s covert supply chains &mdash; sourcing Soviet-era weapons for wars in Syria and Yemen before emerging as a central player in Ukraine&rsquo;s fight against Russia.
As artillery shells became the most sought-after commodity of the war, he placed a multimillion-dollar bet on reviving crumbling Cold War factories in the Balkans, transforming himself from middleman to manufacturer.
Based on months of reporting, The Broker traces Somerindyke&rsquo;s rise through the shadow world of privatized warfare &mdash; where geopolitics, profit and personal ambition collide &mdash; and reveals how modern conflicts are sustained not only by soldiers on the front lines, but by entrepreneurs who move the weapons behind the scenes.
This piece, written by&nbsp;the&nbsp;FT&rsquo;s Miles Johnson, host of Hot Money Season 2: The New Narcos, was&nbsp;<a href="https://www.ft.com/content/d7f95899-d634-43c9-adac-da8da67f3cdb">originally printed</a>&nbsp;in FT Weekend.

From The Financial Times: The Broker

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/97ae9962-fbb3-421e-9127-b3f400fba0e2/transcript

In our season finale, Sam discovers a different narrative about Marsalek’s life in Russia. And a tip from long ago resurfaces. 

In our season finale, Sam discovers a different narrative about Marsalek&rsquo;s life in Russia. And a tip from long ago resurfaces.&nbsp;

Episode 8: Matryoshka

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8948f211-365d-4a46-9c2c-b32801784d62/transcript

Episode 6 - Ties with Tehran

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