Kingdom of Fraud – Episode Summary
Podcast: Kingdom of Fraud
Host: iHeartPodcasts
Episode: Introducing: Kingdom Of Fraud
Date: May 5, 2026
Overview
This introductory episode of Kingdom of Fraud sets the stage for an extraordinary true crime story: the unlikely alliance between Jacob Kingston—an awkward, devout member of a secretive Utah polygamist sect ("The Order")—and Levon Termendzhyan, a flamboyant Armenian tycoon in Los Angeles. Together, they orchestrate a multi-billion-dollar tax fraud scheme, unraveling a web of corruption, international intrigue, dirty cops, and high-stakes betrayal. Hosted by veteran investigative journalist Michele McPhee, the series promises a deep dive into how these two opposites joined forces, the impacts on their personal worlds, and the ripple effects on American law enforcement.
Key Discussion Points & Insights
The Unlikeliest Criminal Partners
The Scope and Audacity of the Fraud
-
Magnitude of the Crime:
- Investigators discovered layers of deception: “We found another bank account. And another bank account. And another bank account. Millions and millions of dollars stolen from the United States Treasury.” [00:58]
-
Living the High Life:
- Jacob is “seduced by this lifestyle—trips, money, big house, nice cars.” [01:15–01:17]
The Underworld Connections
- Involvement of “con men and crooked cops, paranoia and revenge” [01:21], painting a classic, cinematic crime saga.
- “It was a scene out of a Hollywood movie.” [01:26]
The Downfall
- The duo’s alliance is fraught; “there’s a reason empires don’t have two kings.” [01:40]
- Tension grows: “Jacob told Levon, you’re ruining my life.” [01:49]
- Escalation leads to the “largest tax investigation in American history.” [01:59]
- Levon is poised to flee: “He’s going to go to Turkey and never come back.” [01:59]
- Themes of betrayal and paranoia:
- “You need to tell me what you know. Is somebody coming after me?” [02:05]
Notable Quotes & Memorable Moments
- On the surreal rise of Jacob Kingston:
- “How does this member of a polygamous organization in Utah who earnestly started a business... go from there to gold, Ferraris, private jets, meeting the president of Turkey?” [00:01]
- On the nature of the conspiracy:
- “In all my years reporting, this must be the strangest conspiracy I’ve ever come across.” – Michele McPhee [00:24]
- On the scale of deception:
- “An empire entirely built on lies.” [00:52]
- On the central partnership:
- “Two men from entirely different worlds united by an ambition to get filthy rich. But there’s a reason empires don’t have two kings.” [01:34–01:40]
- On betrayals:
- “Jacob told Levon, you’re ruining my life.” [01:49]
- On paranoia:
- “You need to tell me what you know. Is somebody coming after me?” [02:05]
Important Timestamps
- 00:01: The premise—how Kingston’s ordinary beginnings lead to global intrigue
- 00:24–00:52: McPhee details the players and the magnitude of their scheme
- 00:58–01:09: Financial revelations—endless bank accounts and millions stolen
- 01:15–01:21: The temptations of criminal luxury and the moral slide
- 01:34–01:40: The fragile alliance and brewing tension
- 01:49: Personal fallout—Kingston confronts Levon
- 01:59: The historic tax investigation and looming escape
- 02:05: Paranoia and doubt at the climax of their downfall
Tone & Style
McPhee’s narration balances investigative rigor with a cinematic flair, emphasizing the “strangest conspiracy” and framing real events as almost movie-like in scope. The episode teases high-stakes drama and extraordinary characters, promising listeners a story that’s as much about personal ambition and greed as it is about organized crime and law enforcement.
Closing Note
This episode invites listeners to follow an unbelievable journey spanning polygamist communes, luxury cars, global money trails, and secretive underworld deals in what’s billed as one of America’s most incredible fraud stories.
