This story about a billion dollar scam to build an undersea Arctic cable is wild

Photo: Bloomberg Businessweek

Last year, the CEO of Quintillion, an Alaskan company trying to build a trans-Arctic undersea cable, was charged with wire fraud after forging contracts to help raise more than $250 million from investors. This week, Bloomberg posted a captivating feature about how that CEO nearly pulled off the scam of a lifetime. It’s a fascinating story of how someone tried to fake it ‘til they almost made it — but also a cautionary tale about big ambitions can push people to make disastrous decisions.

Elizabeth Pierce apparently had huge ambitions to build an undersea cable to give Alaskans (and eventually, parts of Japan, the Pacific Northwest, Greenland, Iceland, and London) better internet access. It was a noble cause. Internet for much of rural…

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