(ALL TIMES ARE IN ET)
Wednesday, July 16, 2014
10:00 PM AMERICAN GREED 90 (P) - LIGHTS! CAMERA! FRAUD!
1:00 AM AMERICAN GREED 90 - LIGHTS! CAMERA! FRAUD!
FOR TV HIGHLIGHTS CONSIDERATION:
07/16/2014: AMERICAN GREED 90 –"LIGHTS! CAMERA! FRAUD!"
An independent film spins out of control into a $28 million fraud when a filmmaker's silent partner and spiritual guru helps himself to investor funds.
More detailed description for this episode:
Filmmaker Mac Parker passes the hat around his home state of Vermont to raise millions of dollars for "The Birth of Innocence," his independent film about spiritual growth. Hundreds of small businesspeople hand over cash, because they trust Parker, and he offers strong returns on investment. But Parker is keeping secrets. He has a silent partner, Lou Soteriou, a former chiropractor turned New Age mystic who "guides" Parker. He even gives Soteriou a book of signed blank checks, to spend movie money on his own lavish lifestyle. When the houselights come on, they reveal that Mac Parker collected $28 million for a film project that cost less than $1 million. It's a tangled web of greed, delusion, and deceit, giving an ironic new meaning to "The Birth of Innocence."
Movie magic turns tragic - http://video.cnbc.com/gallery/?video=3000291130 - Mac Parker pitched his film to friends and neighbors like Pedie and Armond Brisson and convinced them to invest with promises of big returns.
Fraudulent fundraiser - http://video.cnbc.com/gallery/?video=3000291114 -- Mac Parker used his sterling reputation as a folksy storyteller to fund raise for his independent film.
About "American Greed"
CNBC's shocking true crime series examines the dark side of the American Dream. Some people will do ANYTHING for MONEY. For more information, visit: www.americangreed.cnbc.com
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