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American Greed Episode 93: Home Invaders /Nashville's Predator

Case File

Home Invaders / Nashville's Predator

Rivertown Financial's leaseback plan to keep distressed homeowners in their homes was a scam leaving owners foreclosed on and homeless, while the criminals pocketed millions. And an ego driven financial planner reaped millions from clients' accounts and even approached an NHL team in Nashville to buy the naming rights of the arena.

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  • Private Investments, Personal Gain

    Investors put trust and money into the hands of financial advisor Aaron Vallett. But he has different goals in mind - building his fortune on the backs of burned clients.

  • The Advisor's Ulterior Motives

    Aaron Vallett wants to be a superstar financial advisor. His ego-driven talents extend to the local NHL team in Nashville, where his plans include buying the naming rights to the arena. But, who pays for his bold moves?

  • Vallett on the wrong side of the law...again

    John Webb, Deputy Criminal Chief at the U.S. Attorney's Office says investors should have checked Aaron Vallett's history with FINRA. They would have discovered his suspension...

  • Betting the house

    Graham Loomis of the Securities and Exchange Commission discusses how Aaron Vallett tried to keep his fraud alive as it was unraveling.

  • No lawyer needed?

    Times Union Reporter Robert Gavin explains how Rivertown Financial took advantage of homeowners' desperation to trick them into entering home sales unprotected.

  • By: Source: Financial Industry Regulatory Authority

    In 2008, Aaron Vallett was suspended for four months and fined $5,000 by the Financial Industry Regulatory Authority (FINRA). Was this agreement a red flag for investors?