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Episode 74: Windy City Wipeout/Miami Burn

Case File

Windy City Wipeout

In the North Shore of Chicago, business partners Jack Walsh and Charles Martin appear to be getting very rich running a foreign currency trading brokerage, One World Capital. Martin shamelessly flaunts his wealth on the streets of Winnetka, cruising by in a Ferrari, a Bentley, or an Escalade. And then there are the vanity projects: a film production company that invests in a Hollywood flop called "Breaking Point," and numerous junkets to celebrity charity events. But is the money really coming from savvy trades? In 2007, a routine audit reveals some "irregularities" in One World's accounting. But it's not just irregular -- it's outright theft. One World has been pilfering clients' accounts, to the tune of $10 million. Investigators discover that their outrageous spending even includes $1 million dollars of clients' money at a single NYC strip club.

Miami Burn

Talk about a wolf in sheep's clothing. Juan Carlos Rodriguez appeared to be anything but slick or flashy. He ran a one-man CPA firm, working from a tiny one-story office in a gritty Miami neighborhood. He was apparently a regular guy who enjoyed Dolphins football games and hanging out with a group of friends who called themselves "The Dudes." How shocking, then, when the trusted tax advisor lured his best friends into an investment scheme that would bleed The Dudes dry and cause financial ruin.

VIDEOS

  • Fat Rate Guaranteed     Tuesday, 16 Apr 2013 | 12:00 AM ET

    Hernan Mejia cashes out his pension and with his wife Ofelia, decides to invest his money with his buddy Juan Carlos Rodriguez who runs MDN Financial. Juan Carlos scams his close friends, promising unbeatable monthly returns. But he steals their money instead.

  • Lavish Tips     Tuesday, 16 Apr 2013 | 12:00 AM ET

    Partners Charles Martin and Jack Walsh flaunt their wealth in the Chicago suburb of Winnetka. Clients of their currency trading firm One World Capital Group find their spending a sign of success instead of a tip-off to trouble.

WEB EXCLUSIVES

  • Fat Rate Guaranteed     Tuesday, 16 Apr 2013 | 12:00 AM ET

    Hernan Mejia cashes out his pension and with his wife Ofelia, decides to invest his money with his buddy Juan Carlos Rodriguez who runs MDN Financial. Juan Carlos scams his close friends, promising unbeatable monthly returns. But he steals their money instead.

  • Learn More About Forex Trading     Tuesday, 16 Apr 2013 | 12:00 AM ET

    CNBC Power Lunch co-anchor Sue Herera gives the ins and outs of The Foreign Exchange Market.

  • FBI Agent Affidavit Tuesday, 16 Apr 2013 | 4:24 PM ET

    FBI Chicago Special Agent Brent Potter recounts his investigation into One World Capital Group.

  • Juan Carlos Rodriguez’s Sentencing Document Tuesday, 16 Apr 2013 | 4:26 PM ET

    The Sentencing Memorandum issued by the Southern District of California covering their investigation into Juan Carlos Rodriguez. Also contains written statements from friends/victims of Rodriguez.

American Greed Showtimes

AMERICAN GREEDATHON!
Funny Money
Thursday, August 21st 7pm ET/PT
Rapper$ Delight/ Grapes of Greed
Thursday, August 21st 8pm ET/PT
Bank Robbing Broker
Thursday, August 21st 9pm ET/PT
A Most Generous Criminal
Thursday, August 21st 10pm ET/PT
$1.2 Billion Scam: Ft. Frauderdale
Thursday, August 21st 11pm ET/PT
Fool’s Gold
Thursday, August 21st 12am ET/PT
Sholam Weiss
Thursday, August 21st 1am ET/PT
Don't miss any "American Greed" episodes. Check the U.S. TV schedule for additional showtimes.
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