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Season 7 · Episode 11 of 13 Aired Jun 14, 2013

Greedy Groovy Guru/Doomsday Profit

Fri, Jun 14, 2013 · 43 min
Streaming on Prime Video, Peacock, Spectrum On Demand, AppleTV + 2 more
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Next: S7 E12

A New Age evangelist becomes a greedy, groovy, guru telling Florida investors that positive thinking can lead to positive returns in her auto financing business. But this false prophet is returning nothing but false profits in her $113 million scam. She draws in some 2000 victims but when the F.B.I. finds out about Cladek's scam, this greedster doesn't have a prayer. And, civilization is on the verge of collapse, Ronnie Gene Wilson tells his followers, and the only path to a secure future is paved with investment in precious metals. But for a guy who predicts the imminent demise of the dollar, this South Carolinian certainly seems greedy for greenbacks. He takes in $93 million. Over time, investors realize that Wilson isn't investing their money in metal, but using it to build a luxurious doomsday bunker complete with an organic farm.

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Airs

Fri, Jun 14, 2013

43 min

Show

American Greed

228 episodes

Episode

S7 · E11

in American Greed