How a Simple Mistake Led to a $20 Million Ponzi Scheme

Could a simple vendor decision cost your company millions? For one bank, it did. This video breaks down the true story of How a Simple Mistake Led to a $20 Million Ponzi Scheme. Anders Lillevik, a 25-year procurement veteran and founder of Focal Point, uses this shocking real-world example to illustrate the critical importance of a structured procurement process. This is a masterclass in corporate risk management. You'll learn the full story of how a seemingly logical vendor choice spiraled into a multi-million dollar disaster, a practical framework for conducting proper due diligence on new suppliers, and why "Excel is not a management tool" for any business that wants to scale safely and efficiently. Check out the company: https://getfocalpoint.comBook a 1-on-1 advisory session with me to apply these principles to your business: https://calendly.com/wltb/advisory👀 CONNECT WITH SEANSubscribe: https://www.youtube.com/@seanweisbrotLinkedIn: https://linkedin.com/in/seanweisbrotInquiries: [email protected]🕒 CHAPTERS00:00 - "Excel is Not a Management Tool": A Procurement Manifesto03:33 - What is Procurement? (A Simple Guide)06:42 - The #1 Mistake That Grinds Businesses to a Halt09:54 - The $20 Million Ponzi Scheme Caused by One Bad Vendor13:06 - A Masterclass in Due Diligence: How to Vet a New Supplier16:06 - The Real Cost of a SOC 2 Certification for a B2B Startup19:16 - How Modern Auditing Finds the Problem25:34 - Inside a $5.5M Seed Round: From Product to Scaling28:41 - Why Our B2B Sales Cycle With One Client Took 14 Months31:45 - Why "One-Size-Fits-All" Software is Obsolete📈 WORK WITH ME▶ Book a Paid Advisory Session: https://calendly.com/wltb/advisory▶ Sponsor the Channel: https://www.welivetobuild.com/collaborate▶ My AI/Automation Agency: https://optimai.aiLeave a Review (it truly helps us grow): https://welivetobuild.com/review Hosted on Acast. See acast.com/privacy for more information.