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Laura Beale
Serhat's new neighbors in West Hollywood definitely had no idea he was wanted by the Turkish police. In 2014, Serhat bought a 1920s bungalow encircled by bushy green hedges. He moved into the three bedroom house with his new American husband, Anderson. They paid $1.2 million for it. The following April, Serhat threw a party. He opened the house's sky blue door and festooned the yard with lights. Among those invited was someone he'd just met from the neighborhood. This man, who asked not to be named, remembers being surprised by the invitation from his charming, super, super fit neighbor. At the party, Serhat came over and suggested they pose for a photo together. Around the same time, Serhat reached out to a wealthy Turkish investor. According to Robert the Hindenburg researcher, Serhat told this investor that he had an amazing real estate opportunity in LA.
Robert (Hindenburg researcher)
He said, Give me $930,000, I'm going to buy this house and I'm going to flip it for it.
Laura Beale
Was the house of his guest from the party. Serhat had escrow papers, bills of sale, all in the name of the unsuspecting man he'd taken a photo with.
Robert (Hindenburg researcher)
The theory from the person I spoke with is so that Sirhat could get his fingerprints and could get pictures with this gentleman and it would aid him in being able to steal his identity.
Laura Beale
The whole scam seems kind of preposterous, but it worked.
Robert (Hindenburg researcher)
He basically sold a house to an overseas investor that he didn't even own in the first place. So he just picked a random house on a street that he lived on like two houses down from him. And he went to this overseas investor and he said, I'm going to flip it for you.
Laura Beale
The Turkish man fell for it. He agreed to buy the house that wasn't even for sale.
Robert (Hindenburg researcher)
I don't know how this guy trusted him or why he trusted him, but he did and he wired the money to Serhat. Sarah didn't use that money to flip a house. He just started having parties.
Laura Beale
It was like Serhat had never heard that saying about not making a mess in your own backyard. And that was nothing compared to his other plans for America.
Nate (Hindenburg)
It was Dr. Serhat coming over to the US and going on a complete fraud spree.
Laura Beale
His ambitions seemed to be growing bigger. The next target he set his sights on the world of high finance and biotech.
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Laura Beale
From wondery. I'm laura beale and this is Dr. Bad magic. This is episode three language of angels. As he built a new life in America, Serhat seemed to move into a world of high finance and science. Just as he'd done in Turkey. Serhat found it easy to impress people with money. But this time he was trying on a new role, the investor. And he had a trick that showed potential investors he wasn't just any financier. At one such meeting, a former business associate said he held a table of dinner guests. Captivated, they were in a bistro in midtown Manhattan. Dishes clanged and waiters rushed by. But the guest's eyes were focused on a spoon lying on the table. The staff stopped and looked as it began to bend, twisting and contorting. Finally, it came to rest, mangled on the table. Serhat's guests looked at each other in amazement, trying to figure out how did he do that. But for his business partners, his tricks weren't all that made him a charming dining companion. Serhat let it be known that he was rich. He said his family owned an asphalt plant in Nigeria and a gold mine in Peru. And it got better. He said he was descended from Turkish aristocracy. The name on his checks even said Prince Serhat D. Gumrukchu. Robert was trying to find a pattern.
Robert (Hindenburg researcher)
Part of what we do, or what I do is I like to understand the mechanics of any fraud that these people have been involved with in the past.
Laura Beale
The sheer number and range of different frauds was a surprise. Time after time, the victims seemed to want to believe him. And especially when it came to the health of someone they loved. According to a lawsuit filed on behalf of a family called the Pavloviches, In
Robert (Hindenburg researcher)
August of 2015, Sarhat arrived in Beaver Falls, Pennsylvania to do a medical evaluation on their son in preparation for treating his cancer.
Laura Beale
The court documents say that Serhat acted as a medical professional. He examined the family's adult son, Asa, and promised he would develop a treatment plan. The next day, Serhat returned with medication. With a needle in Asa's forearm, Serhat started an IV drip.
Robert (Hindenburg researcher)
And this is the really weird thing. His treatment plan includes like mistletoe, B17 and natural killer cell injections.
Laura Beale
The same drugs that Serhat was accused of using on the Turkish patient.
Robert (Hindenburg researcher)
So this starts to reinforce a pattern.
Laura Beale
The so called vitamin B17 known as Laetril is banned in the US and many other countries. The compound breaks down into cyanide and has been linked to poisoning in patients.
Robert (Hindenburg researcher)
He's asking for a lot of money. I mean, they're writing him. I think the first check is for $19,000, and then there's additional checks for
Laura Beale
tens of thousands of dollars, and not just for Asa.
Robert (Hindenburg researcher)
He must have, like, really impressed the family, because on his third or fourth visit to the house, he starts treating the mother, too.
Laura Beale
He took a sample of her blood, which he said was for a stem cell shot. At the time, she was suffering from leg pain and vision problems. Over the next few days, he gave her between 150 and 200 injections in her feet, ankles, and legs. And according to the complaint, he treated her vision problems with another unconventional method, leeches. All of this wasn't cheap.
Robert (Hindenburg researcher)
They continue writing him checks, bigger and bigger checks. You know, they're paying his airfare, and what happens is he asks them to send between 200 and $250,000 for additional treatments that he's going to come and administer. To just give you an idea of how big of a deal it probably was to come up with this sum of money. The family's home was worth about the same amount.
Laura Beale
They sent the money for additional treatments. Asa passed away in December of 2015.
Robert (Hindenburg researcher)
And so the family reach out to Sirhat, and they're like, hey, that 200, $250,000 we wired you for the next visit, can you send that money back? Because you never delivered those services?
Laura Beale
Serhat replied.
Robert (Hindenburg researcher)
He says, yep, I'm going to send the money back. Just, just wait a little longer. It's on the way. It's coming.
Laura Beale
They waited and waited. Serhat didn't send it. To the Hindenburg team. The case was beginning to bring things into focus. What they'd previously found in Turkey wasn't just an isolated instance. It looked like a pattern. Sarah seemed to target terminally ill patients and offer them a dose of false hope at a steep price. By this time, though, Serhat was moving into a completely different scheme, one that stood to make him even more money and put him at even more risk. It started with an email from a businessman named Gregory Gack. Serhat, I need your diplomatic skills. Gak has blue eyes, a cleft chin, and Minnesota charm. He'd heard that Serhat was a Turkish royal and approached him with a business opportunity. A trader in Vermont needed someone to front a large amount of cash for an oil deal. Gak was offering to act as the middleman and he wanted to see if Serhat might be interested in investing.
Thomas (Hindenburg)
Gunruchu out of the blue, says that he's got $22.5 million standing by to finance this oil deal.
Laura Beale
That's Thomas from Hindenburg. The trader from Vermont's name was Greg Davis. Davis was a slim black man with rectangular glasses, a family guy. When Gack told him he'd come up with the money, Davis was excited, but asked for proof that the money was there.
Thomas (Hindenburg)
And so Sirhat provides the other business partners, Gregory Gack and Greg Davis, with a letter from a bank in Cyprus.
Laura Beale
But Davis thought something was off. He looked up the bank's website and it seemed brand new. Not only that, some of the language on the page appeared to have been copied and pasted directly from bank of America.
Thomas (Hindenburg)
Davis and Gack realized that the letter they'd been given is absolutely false. The bank didn't even exist.
Laura Beale
Serhat said he'd been acting in good faith. It was the so called bank that was scamming him. But that wasn't the end of it.
Thomas (Hindenburg)
You know, normal people at that stage would just walk away from a deal, but not these guys.
Laura Beale
After all, there was a lot of money on the line.
Thomas (Hindenburg)
It's like, oh, yeah, okay, we figured out that this bank's not real. Do you have the money? Can you come up with something else? And so that just starts a whole series of cons and fraud, frauds and lies.
Laura Beale
Sarat was running multiple scams at the same time. And for a while, it must have seemed like he was getting away with it. But then, at the start of 2017, his past began to catch up with him. On February 9, a phalanx of FBI agents swarmed a quiet Los Angeles neighborhood. Agents converged on a white bungalow and rushed in. Serhat was out on the sidewalk in handcuffs. He was being charged with 14 felony counts relating to fraud and theft.
Robert (Hindenburg researcher)
Obtaining money, labor or property by false pretenses. Grand theft of personal property, Identity theft.
Laura Beale
The charges touched on every aspect of Serhat's crime spree.
Robert (Hindenburg researcher)
Non sufficient funds, Checks.
Laura Beale
Real estate fraud, Bad checks, Identity theft. The list is long and devastating.
Robert (Hindenburg researcher)
False personation.
Laura Beale
Each of these charges alone call for a possible sentence from 16 months up to three years. But even longer sentences were requested due to the amount of money involved. His bail was set at 6, $625,000.
Robert (Hindenburg researcher)
Aggravated white collar crime.
Laura Beale
The charges threatened to destroy everything Serhat had been building in America. And they landed just as he was on the cusp of pulling off his biggest magic trick yet. An idea he'd been working on with a wealthy businessman, an idea called Enochian.
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Laura Beale
Eight years before he ever met Serhat, Rene Sendlev strode into an upscale restaurant in Copenhagen. He was there to celebrate the greatest success of his life. He'd begun his career as an apprentice in a small jewelry shop. Now he had just helped sell the business. He co founded Pandora to a private equity firm. He was worth over half a billion dollars. One board member called for a toast.
Ole Hall / Raza Jaffrey
So he stands up and then he says, okay, it's incredible that we are standing here tonight.
Laura Beale
Journalist Ole hall spoke to those who were there that night.
Ole Hall / Raza Jaffrey
Who would have thought that this company would actually be a success? We don't even know what we did. We just did it. And then it just happened that we got very successful. It's incredible. And people are clapping and laughing and they're just having a very nice evening. But Rene, he found that speech so incredibly insulting.
Laura Beale
For Rene, the success of his company was not a coincidence.
Ole Hall / Raza Jaffrey
It was the exact result of a strategy and a vision and a plan.
Laura Beale
To Rene. The thing that made Pandora such a big success was expanding into America. But his colleagues didn't give him the credit. Olay says that Rene was convinced that it was his plan that had made them all rich. And that lack of acknowledgment drove him crazy.
Ole Hall / Raza Jaffrey
I Think he was just hungry, hungry for more. He was convinced that he could build up something that was bigger than the company he had left.
Laura Beale
Rene found his next challenge inside of the Symbion Science Park, a low slung modern building near the center center of Copenhagen. The complex is packed with startups that work in software, gaming and biotech. The company was called Dandrut. It was working on a groundbreaking new treatment, a vaccine for colon cancer. Even though his expertise was in the jewelry business, Rene was excited to invest in such a promising industry. By the spring of 2006, in 2016, Rene was the second largest shareholder in the company. Just in time for the stock to crash. Dandert's researchers had failed to find the blockbuster they'd hoped for. By the end of the year, Rene's shares had lost around 70% of their value. If Rene's goal was to create something bigger and more successful than his first venture, the opposite was happening. Rene had an ailing pharmaceutical company that needed a lifeline. And that's when he met Serhat. They were introduced by a nutritionist who promotes a program called Sexy Juicing. And soon, Renee became Serhat's patient.
Thomas (Hindenburg)
Rene had got some skin growth, what he believed might be skin cancer. And so Sirhat comes along and says, hey, I'll take a swab of that, I'll take a sample of it, I'll get it sent off to some people that I know and we'll take it from there. We'll see what kind of treatment you need.
Laura Beale
When the results came back, Rene received some difficult news. He had cancer. But then Serhat took a look at it, and according to Nate from Hindenburg,
Nate (Hindenburg)
Serhat had actually treated it and removed a potential cancerous growth. And that after Serhat's procedure, this cancer hasn't relapsed ever since.
Laura Beale
Serhat had seemingly made his cancer disappear.
Nate (Hindenburg)
And so we were wondering like, well, that's interesting because he's not actually a doctor and he's not licensed to practice.
Laura Beale
Rene may have been a rich businessman, but when he met Serhat, he was in the same boat as the other patients in Turkey and Pennsylvania. Someone seeking help. Once he was better, he began to wonder if Serhat might not be able to solve his other problem, the company with the failed vaccine. Pretty soon, Serhat met the leaders of Dandrit too. Serhat recalls that first meeting when he was on the Fancy Lab Coat Guild podcast.
Nate (Hindenburg)
They're from Denmark. They flew to la and we had these meetings and I looked into their technology and I said, this is promising. It's a very old technology. It hasn't been. Science is advanced, but their technology hasn't.
Laura Beale
Serhat offered his help.
Nate (Hindenburg)
I told them that I can make their vaccine work better. And it would take about three months.
Laura Beale
He was hired as a consultant, but Serhat said they got to be friends. And the more they worked together, the more Serhat shared his own ideas.
Nate (Hindenburg)
They were like, what are you doing in your research? And I talked about the HIV research that we're doing.
Laura Beale
As Rene and his team worked with Serhat, an idea began to form.
Nate (Hindenburg)
So they're like, why don't we merge
Laura Beale
our companies together with Dandret, they would form a new firm, one that would be named after the mythical language spoken by angels. Enochian. Rene believed that he'd found the visionary he and his company needed.
Thomas (Hindenburg)
He wanted a guru, he wanted a confidant. He wanted a magician. He wanted this mystical figure that could solve all the problems he felt that he'd got in Sirhan.
Laura Beale
In the summer of 2017, papers for the Enochian merger were getting finalized. If the deal went through, it would take Serhat to another level of prestige and wealth. But he was facing some serious threats. He was still facing the charges from his arrest a few months earlier. And as the clock ticked down to the merger, another problem became more and more urgent. His business dealings with Greg Davis. The messages from the middleman were getting more troubling.
Thomas (Hindenburg)
I'm getting nasty grams from a Greg Davis. Anything I can tell him? Greg is going ballistic and I don't know if I can control him anymore. Our friend is all over me. Greg wants to see a path forward. I believe he's on the road to prosecution.
Laura Beale
By late December of 2017, Davis was asking for $980,000 to drop the matter. His message ended with a warning. If Sirhat didn't fulfill his part of the deal, their relationship will end in a series of indictments clearly bearing civil and criminal repercussions. Davis made it clear, pay up or he'd take Serhat to court. Now it was up to Serhat. They are in control of how it ends, but it is the end. Finally, on January 12, 2018, the merger was agreed to. Despite not being a doctor, despite his history of unscientific cures, Serhat had become a co founder of Enochian biosciences. Somehow, he would manage to make each and every threat disappear. The criminal charges, the millions in debt, all gone. And there would be no more threats from Greg Davis, because six days before the merger went through, a man disguised as a US Marshal had shown up at his house in Vermont, driven him away in handcuffs and shot him dead. From Wondery. This is episode three of five of doctor Bad Magic. I'm your host, Laura Beale. This series is written by Benjamin Gray. Producer is Nikka Singh Senior producer is Russell Finch Story editor is Alison Weintraub Senior editor is Rachel B. Doyle Fact checking by Jacqueline Colletti Additional reporting by Gulsan Harman Production assistants by Mariah Dennis and Emily Locke Sound design and mixing by Erin May Senior managing producer is Lata Pandya Coordinating producer is Heather Baloga Produced by Storyforce Music supervisor is Scott Falaskas for Frison Sync. Special thanks to Ali Dashti and Guy Rotkin of the Fancy Lab Coat Guild podcast and to Nate Anderson and the staff at Hindenburg Research for use of their reporting. Executive producers are Bly Pagan Faust and Corey Shepard Stern. For Storyforce, our executive producers are George Lavender, Marshall Louie and Jen Sargent. For wondering,
Ole Hall / Raza Jaffrey
I'm Raza Jaffrey and In the new season of the Spy who we open the file on Benedict Arnold, the Spy who Betrayed the American Revolution. America is fighting to free itself from the British Empire and one of its foremost generals is Benedict Arnold. He's a smuggler turned battlefield hero and admired for his aggressive tactics. But when a war wound, a new wife, debts and politics test his loyalty to the mags, he turns spy and devises a plot to shatter the revolution and help Britain capture rebel commander in chief General George Washington. And that plot would make him the most infamous traitor in U.S. history. Follow the Spy who Now Wherever you listen to podcasts, you can also listen to the full season of the Spy who Betrayed the American Revolution early and ad free on audible.
This riveting episode continues to unravel the fascinating and deeply troubling story of Serhat Gumrukcu—a man who arrived in the U.S. projecting the charisma of a self-styled medical genius and financial magnate. The episode reveals Serhat's escalating ambition, the mechanics of his elaborate cons, and the trail of devastation he left among patients, business associates, and investors. The episode ends on a chilling cliffhanger, marking how Serhat's “magic tricks” grow darker and more dangerous as he positions himself at the center of a major biotech merger.
(00:08 – 02:33)
“He basically sold a house to an overseas investor that he didn’t even own in the first place.”
— Robert/ Hindenburg Researcher (01:54)
(02:33 – 05:38)
(05:38 – 08:44)
“He took a sample of her blood, which he said was for a stem cell shot... Over the next few days, he gave her between 150 and 200 injections... and treated her vision problems with another unconventional method: leeches.”
— Laura Beale (07:28)
(09:07 – 12:44)
“Davis and Gack realized that the letter they’d been given is absolutely false. The bank didn’t even exist.”
— Thomas/ Hindenburg Researcher (11:20)
(17:45 – 21:05)
(21:05 – 24:04)
(22:54 – 25:00)
“He wanted a guru, he wanted a confidant. He wanted a magician...”
— Thomas/ Hindenburg Researcher, on Rene’s fascination with Serhat (23:48)
(25:01 – 27:20)
“Somehow, he would manage to make each and every threat disappear. The criminal charges, the millions in debt—all gone. And there would be no more threats from Greg Davis, because six days before the merger went through, a man disguised as a U.S. Marshal had shown up at his house in Vermont, driven him away in handcuffs and shot him dead.”
— Laura Beale (27:07)
Laura Beale’s narration is sober and investigative, piecing together interviews, legal documents, and journalistic reports. Guests from Hindenburg Research and other journalists appear throughout, adding expert context delivered in plain, analytical language. Occasional dark humor and incredulity punctuate their astonishment at the sheer audacity of Serhat’s schemes.
This episode chillingly illustrates how Serhat Gumrukcu exploited personal charm, medical desperation, and financial ambition on an escalating scale—from fake real estate to terminal patient cons, ultimately tying his fate to very rich and powerful players. The segment closes with harrowing implications, as the lines between con artistry, biotech entrepreneurship, and violence blur, leaving listeners eager—and anxious—for answers in the coming episodes.