Ep 28. Sticky Fingers//life In The Fraud Lane

In season 10 episode 28 of American Greed, titled "Sticky Fingers//Life In The Fraud Lane," explores two cases of fraud that span over several years. The first case involves Michael Sabo, the CEO of a car dealership who operates a multi-million-dollar loan fraud scam. Sabo takes advantage of the vulnerable and desperate by promising loans with low-interest rates and flexible repayment plans. However, these loans never materialize, and Sabo keeps the money for himself. Sabo's antics catch up with him, and he eventually gets caught.

The second case focuses on a Florida man named David Lozano, who defrauds his clients by operating a series of Ponzi schemes. Through his companies, Lozano promises high returns on investments in various products ranging from solar panels to meat products. However, Lozano instead uses the money to fund his lavish lifestyle, which includes luxury cars, homes, and vacations. Eventually, Lozano gets caught, but the trail of victims he left in his wake is extensive.

The episode explores how both men were able to continue their fraudulent activities for so long without getting caught. Sabo was charming and persuasive, using his charisma to convince people to trust him. His victims also felt pressured to keep silent about their loans in fear of damaging their credit score. Lozano, on the other hand, used a web of lies and deceit to keep his Ponzi schemes afloat. He would use fake financial statements to show his clients that their investments were growing when, in reality, he was just stealing their money.

The episode also delves into the aftermath of these crimes, showing how the victims were affected. Many lost their life savings or found themselves in unmanageable debt, while others struggled with their mental health due to the trauma of being defrauded. The episode highlights the importance of being aware of the signs of fraud and taking steps to protect oneself.

Overall, "Sticky Fingers//Life In The Fraud Lane" is a gripping episode that showcases the devastating effects of financial fraud. It serves as a timely reminder that anyone can be a victim of fraud and that it's crucial to stay vigilant and do thorough research before making any investments or loans. The episode also provides insight into the tactics that fraudsters use to lure in their victims and how they manipulate people's trust and vulnerabilities to carry out their schemes.