American Greed: The Fugitives Episode 13: Diamonds Aren't Forever | Cover Your Assets

Diamonds aren't forever // Cover your assets

Diamonds Aren't Forever | Cover Your Assets

A financier and real estate developer with a sterling reputation ends up in bankruptcy court. And, a CEO is charged with overseeing accounting fraud to inflate his company's worth to investors while pocketing a fortune.

Video Clips

  • Diamond's aren't forever

    Michael R. Mastro is the focus of one of Seattle's largest forced chapter 7 bankruptcies and is losing every asset he owns. But his wife, Linda refuses to part with her two giant precious stones.

  • His word was his bond

    Son to working-class Italian immigrants, Michael Mastro's beginnings are humble. He works with his father as a ditch digger and by the 1970's he is a self-made millionaire.

  • Have you seen Michael and Linda Mastro?

    If you have any information regarding Michael Mastro or his current assets, call your local FBI office.

  • CEO Dreams

    Before his face is on "Most Wanted" posters, Tomo Razmilovic is exalted in the business press as a hard-charging CEO who gets results.

  • Phony figures and fear

    In 2001 Symbol Technologies claims it has met or exceeded Wall Street predictions for 30 consecutive quarters. The company's new CEO is allegedly determined not to break that streak.

  • Have You Seen Tomo Razmilovic?

    Tomo Razmilovic has been criminally charged with 13 counts of securities fraud in a multi-million dollar accounting scandal.

  • Damaged by 'Friends and Family'

    James Rigby discusses the phone calls he receives from victims of Michael Mastro and his "Friends and Family" investment group.

  • Profits at any cost

    Plaintiffs' attorney Glen DeValerio says Symbol Technologies created fictitious employees in some of its financial schemes.

Case Files

  • By: Source: Public record

    This letter was sent to “Friends and Family” investors by Michael Mastro in Sept. of 2008 to assure them Mastro Properties was still going strong and thriving in a down economy.

  • By: Source: Public record / State of Washington Dept of Financial Institutions

    Charges brought against Michael Mastro by the State of Washington Department of Financial Institutions.

  • By: Source: U.S. Postal Inspection Service

    Tomo Razmilovic is the former CEO of Symbol Technologies. He is accused of carrying out a $200 million fraud scheme.

  • By: Source: Public record

    Indictment from June 2004 against Tomo Razmilovic and other Symbol Technologies employees.


  • By: Celia Watson Seupel, Special to CNBC

    Where would an American fugitive run to flee the long arm of the law? From China to Andorra, CNBC's "American Greed" finds 10 places to hide out.