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Episode 63: The Mormon Madoff

Case File

The Mormon Madoff
Shawn Merriman was a bishop in the Mormon Church, a family man and the head of a thriving investment business pulling in millions. But unknown to investors, Merriman was living a lie and ripping off his neighbors, friends, even his own mother.

The Mormon Madoff

  • Shawn Merriman was a bishop in the The Church of Jesus Christ of Latter-day Saints and a family man. He started Market Street Advisors, a thriving, lucrative investment business in Aurora, Colorado. Merriman became rich and lived an incredible lifestyle, spending millions on an impressive art collection, cars and vacations. But unknown to clients, the devout money manager was running a Ponzi scheme. Merriman lived a double life for 15 years, deceiving his own family, church and clients…and left a path of destruction in his wake. When the truth came out, dozens of innocent investors wanted to make him pay.
  • American Greed reveals a multi-million dollar tale of deception!

Web Extras

  • Wall Street Jailbirds
    By:
    Wednesday, 20 Jun 2012 | 11:09 AM ET
    The term financial fraud usually brings to mind names like Bernie Madoff, Raj Rajaratnam and Allen Stanford, to name a few. All three men are now doing time in prison for their respective crimes. is serving 150 years for his $50 billion Ponzi scheme. found guilty of insider trading charges, was sentenced to 11 years behind bars. received a 110 year sentence for his $7 billion Ponzi scheme. However, these notorious cases are far from the only ones involving financial crimes. From money managers w

    While not every one of these Wall Street jailbirds had offices in downtown Manhattan, they all dealt in the financial world. Click ahead to see those who have traded in their pinstripes for prison stripes.

  • Shawn Merriman's Lavish Home   Friday, 15 Jun 2012 | 12:00 AM ET

    Take an exclusive look inside the home of Shawn Merriman. In this video shot by federal agents on April 8, 2009, investigators uncover how Merriman spent millions of dollars in stolen investor money on fine art, luxury vehicles, classic cars, taxidermy, sports memorabilia, and antique weapons.

  • American Greed: Shawn Merriman  Friday, 15 Jun 2012 | 12:00 AM ET

    Shawn Merriman was the head of a thriving investment business pulling in millions. But unknown to investors, Merriman was running a Ponzi scheme and ripping off his family and friends. Andrea Merriman was married to Shawn for nearly 20 years. She remembers the day Shawn told her he¿d been running a fraud for 15 years and nearly everything she knew about her marriage was a lie.

  • The Mormon Madoff: How Shawn Merriman Scammed Millions
    By: Jenna Martino|CNBC Associate Producer
    Wednesday, 20 Jun 2012 | 10:45 AM ET
    Shawn Merriman

    Shawn Merriman was head of an investment firm and lay bishop in the Mormon church who persuaded friends, family, and church members to invest with him. It turned out to be a big scam, taking in more than $21 million. Among victims: his own mother.

  • Sally Merriman Letter Wednesday, 15 Aug 2012 | 3:47 PM ET

    Letter from Sally Merriman to Judge Bimmer in regard to her son Shawn’s sentencing. Filed 9/1/10. (Source: Public Record)

  • Merriman Plea Agreement Wednesday, 15 Aug 2012 | 3:35 PM ET

    United States District Court, District of Colorado: Shawn Merriman Plea Agreement and Statement of Relevant Facts filed 12/2/09. (Source: Public Record)

  • "American Greed" is narrated by Stacy Keach. The award-winning actor of stage, film and television is well-known for his portrayals of Detective Mike Hammer and Ernest Hemingway, for which he won a Best Actor Golden Globe.