GO
Loading...

Episode 69: Randy Treadwell: The Wealth Builder Club

Case File

The Wealth Builder Club
He's the son of a preacher who assumes the role of a trust-worthy and successful businessman enticing investors into his scheme with promises of guaranteed returns. The lure of big money fools even the savviest investors.

Randy Treadwell: "The Wealth Builder Club"

  • Randy Treadwell, the son of a preacher, leaves the righteous path- claiming he's a financial wizard, but all he does is take investor money for himself and his crew. He uses his Southern charm to bilk believers out of nearly $65 million. He calls his scams legitimate sounding names like "Learn Waterhouse" and "The Wealth Builders Club" in which Treadwell promises huge returns for short-term investments. But when clients can't withdraw their money, complaints to law enforcement pile up. See how the FBI steps in with a hidden camera investigation to hear all of Treadwell's lies and bring him to justice.


WEB EXCLUSIVES

  • Helping Out the Little Man     Wednesday, 30 Jan 2013 | 12:00 AM ET

    Randy Treadwell and his salesmen take their show on the road to bring in big investors and widen their net -- their sales pitch sounds too good to be true, or too good to pass up. Hundreds take the bait as undercover video reveals the lure.

  • When the Feds Come Knocking     Wednesday, 30 Jan 2013 | 12:00 AM ET

    Randy Treadwell and his crew bilk 1,700 investors across the country out of close to $65 million. They stay a step ahead of law enforcement and angry investors, but their lavish lifestyles lead to the Ponzi scheme's final flameout.

  • Text, Lies and Audio Tape Friday, 8 Feb 2013 | 9:42 AM ET

    In June 2004, FBI agents recorded Randy Treadwell, Rick Sluder, and Larry Saturday discussing their learn Waterhouse scam at length.

  • The Amazing 500% Return Wednesday, 30 Jan 2013 | 11:14 AM ET

    In June 2004, Larry Saturday makes big promises to an FBI informant, including a 500 percent investment return guarantee.

  • Treadwell's Pitches Thursday, 7 Feb 2013 | 3:04 PM ET

    Randy Treadwell’s ventures changed names throughout the years, and so did his pitches. Read how Treadwell enticed the public to invest in Qwest International, Wealth Builders Club and Learn Waterhouse.

  • Learn Waterhouse Keep Quiet Email Thursday, 7 Feb 2013 | 2:53 PM ET

    As word spread that Learn Waterhouse was under investigation, some of its “true believers” called Senior Member Representatives spread the word by email, encouraging investors to stonewall the authorities.

American Greed Showtimes

AMERICAN GREED MARATHON FRIDAY!
Friday, April 18th 12p – 6p ET
12p ET AG #79
The Lady Killer
1p ET AG #82
Young Lust Goes Bust
4p ET AG #81
Murder in Memphis
The Prisoner of Wall Street
Saturday, April 19th 1a, 3a ET/PT
$udden Death/ Hip Hop Hustle
Sunday, April 20th 1a, 3a ET/PT
Check the U.S. TV schedule for additional showtimes.
#AmericanGreed

Most Popular Video

Thursday, 17 Apr 2014 | 4:13 PM ET

Dissecting today's market activity and the current state of financials, with Yra Harris, Praxis Trading partner; Larry Glazer, Mayflower Advisors; CNBC contributor Carol Roth; "Fast Money" Guy Adami and CNBC's Kate Kelly.

Thursday, 17 Apr 2014 | 5:46 PM ET

CNBC voice over talent Jim Birdsall shares the top 5 sayings from traders on "Fast Money" over the years.

Thursday, 17 Apr 2014 | 6:40 PM ET

Mad Money's Jim Cramer reflects on CNBC's evolution over the past 25 years.