(ALL TIMES ARE IN ET)
Wednesday, June 18, 2014
10:00 PM AMERICAN GREED 88 - EXTREME HOME RIPOFFS//GREEDINGS FROM FLORIDA
1:00 AM AMERICAN GREED 88 - EXTREME HOME RIPOFFS//GREEDINGS FROM FLORIDA
06/18/2014: AMERICAN GREED 88 –"EXTREME HOME RIPOFFS// GREEDINGS FROM FLORIDA"
Two brothers ripped-off millions from homeowners in a remodeling scheme that left customers homeless. And, a real estate investor stole $31 million from clients who believed he was flipping houses in New York City to make them big bucks.
More detailed descriptions for this episode:
"EXTREME HOME RIPOFFS": A pair of scheming brothers, John and Dan Sullivan used home remodeling businesses to rip-off Chicago homeowners of millions. Their plan? For years, using racial profiling, they convinced homeowners to secure home equity loans to pay for remodeling jobs when in reality clients were signing huge new mortgages they were unable to pay off. It left many homeless while the brothers were paid handsomely for work they never completed.
"GREEDINGS FROM FLORIDA": Joseph Greenblatt told Florida retirees that he owned valuable fixer-uppers all around New York that they could invest in, with the promise of huge interest returns. Investors eagerly handed over tens, even hundreds of thousands of dollars, but Greenblatt was a serial scam artist who didn't own all the property he claimed, and had no intention of repairing anything. He used their money to go on wild spending sprees. It all added up to a $31 million scam.
About "American Greed"
CNBC's shocking true crime series examines the dark side of the American Dream. Some people will do ANYTHING for MONEY. For more information, visit: www.americangreed.cnbc.com
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 371 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
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