American Greed

Joe Mazella’s money pits

Joe Mazella’s money pits

Source: Jesse Ward

Staten Islander Joseph Mazella says he can help friends and neighbors make money turning distressed properties into residential oases. But the $14 million he raises from police officers, fireman, and even the deaf community doesn't go into new buildings, it goes into Mazella's pocket. All his investors have to show for it are a collection of dilapidated rat-traps that don't show the first sign of renovation. 

Some people will do anything for money. All new episodes of "American Greed" CNBC Wednesdays at 9 p.m. ET.

Falsifying investment opportunities

Source: CNBC

Investors believed Joe Mazella had commercial and private real estate properties all over New York and New Jersey making profits. Mazella showed off an impressive artist rendering of Bella Vista, a new building he said was located on Stokes Avenue in Ewing, New Jersey.  In reality, this was the building at that location and Mazella never owned the property. 

Wilted greens in Greenville

Source: FBI

Joe Mazella claimed this run-down property in Greenville, N.Y. was being developed into a golf course and condominium project called Golden Greens.

Empty building, empty promises

Source: FBI

This is the industrial warehouse in Trenton, N.J. that Joseph Mazella told investors he was developing into residential condominium facilities.

CNBC's American Greed examines the dark side of the American dream. Some people will do anything for money!• • •

CNBC's shocking true crime series examines the dark side of the American Dream. Some people will do ANYTHING for MONEY.