Ep 8. Confessions of a Con Man

In the second season of American Greed, episode 8 explores the life of a con man who used his charm and investment schemes to swindle millions of dollars from unsuspecting victims. The episode, titled "Confessions of a Con Man," delves into the case of Bill Cooper, a former life insurance salesman turned fraudster.

Cooper's scams began with his involvement in a questionable oil investment opportunity, which evolved into a Ponzi scheme that defrauded investors of millions of dollars. He promised high returns and convinced people to invest by showing them fake financial documents and even going as far as recording bogus phone conversations with high-profile investors.

As the episode unfolds, viewers witness how Cooper's lavish lifestyle led to his undoing. He bought expensive homes, luxury cars, and even used investors' money to pay for a family trip to Disney World. But his ultimate downfall came when the Securities and Exchange Commission (SEC) discovered his fraudulent schemes.

After being indicted, Cooper confessed to his wrongdoing in a recorded statement to the SEC. The episode contains clips of his confession, in which he admits to using investors' money for personal gain and to cover up previous losses.

The episode features interviews with several of Cooper's victims, including a retired schoolteacher who lost her entire life savings to his schemes. It also looks into the legal ramifications of his actions, including the freezing of his assets and the eventual prison sentence he received.

Overall, "Confessions of a Con Man" shines a light on the devastating impact that financial fraud can have on people's lives. The episode offers a cautionary tale for viewers to be wary of investment opportunities that seem too good to be true and to thoroughly research any potential deals before handing over their hard-earned money.