HUNDREDS OF VICTIMS SWINDLED COURTESY OF THE BONNIE & CLYDE OF MORTGAGE FRAUD - CNBC PRESENTS SEASON PREMIERE OF "AMERICAN GREED" WEDNESDAY, JANUARY 7 AT 9PM ET
ENGLEWOOD CLIFFS, N.J., January 6, 2009 - He was a master of ID theft who made his way through Florida, Georgia, South Carolina, Texas and Tennessee with a female companion in tow, swindling major banks and hard-working people out of millions of dollars along the way. In the season premiere of CNBC's "AMERICAN GREED," airing WEDNESDAY, JANUARY 7th at 9PM ET, the tangled story of Matt Cox and his $12 million mortgage fraud scheme is exposed, including interviews with victims, accomplices and the villain himself.
CNBC's "American Greed" reveals how this devious lothario used fraudulent real-estate dealings that provided him with fast cars, a grand house, and plenty of cash, which in turn helped him attract a steady stream of young, beautiful female companions. Once he roped in a beautiful new girlfriend, usually a down-on-her-luck single mother, they would engage in a scheme that used stolen identities to take out mortgage loans on properties that he didn't own, enabling him to pocket the cash.
Shortly after Cox's first accomplice takes her newly acquired false identity to a mortgage refinance meeting and walks out with a check for $117,000, he asks her to leave her home and young son in Tampa to go on the run. When she refuses, he dumps her and finds another "Bonnie," to his Clyde, who is willing to comply. The pair take their scheme on the road to Georgia, South Carolina and Texas as they make – and spend –
Meanwhile, a reporter from the St. Petersburg Times is hot on the trail, dozens of people whose identities have been stolen and credit ruined become vocal, and law enforcement officials step up their investigation. As Cox feels his scheme collapsing around him he flees his current residence in Houston and heads to Nashville. There, a strange set of circumstances puts an end to his crime spree.
"American Greed" is produced by Kurtis Productions. Sharon Barrett is the Executive Producer and Mike West is the producer for Kurtis Productions. Charles Schaeffer is the Executive Producer for CNBC of "American Greed." Jonathan Wald is the Senior Vice President, Business News at CNBC.
For more information including web extras and extended video clips, log onto americangreed.cnbc.com.
CNBC is the recognized world leader in business news, providing real-time financial market coverage and business information to more than 340 million homes worldwide, including more than 95 million households in the United States and Canada. The network's Business Day programming (weekdays from 5:00 a.m.-7:00 p.m. ET) is produced at CNBC's headquarters in Englewood Cliffs, N.J., and also includes reports from CNBC news bureaus worldwide. Additionally, CNBC viewers can manage their individual investment portfolios and gain additional in-depth information from on-air reports by accessing http://www.cnbc.com.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://nbcumv.com/cnbc/.