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Episode 74: Windy City Wipeout/Miami Burn

Case File

Wind City Wipeout/Miami Burn
Currency traders in Chicago steal $10 million from clients to fund a binge on strippers, clothes and fast cars. And a Miami tax advisor steals millions from the people who considered him a friend.

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 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

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