Ep 69. The Wealth Builder Club

The episode "The Wealth Builder Club" of American Greed season 7 follows the story of a financial planner who allegedly led a Ponzi scheme that defrauded investors out of millions of dollars. The financial planner, known as Dawn Bennett, was the founder and CEO of a company called DJBennett.com, which marketed high-end sports apparel. She was also known for her radio show, "Financial Myth Busting with Dawn Bennett," where she touted her financial expertise and encouraged listeners to invest in her Wealth Builder Club.

Bennett promised her investors high returns through investing in a variety of assets, including rare gems and metals, real estate, and private equity. However, it was discovered that Bennett had been using investor funds to pay off earlier investors and finance her lavish lifestyle, including multiple homes, luxury cars, and expensive vacations.

As investigators uncovered the extent of Bennett's scheme, she became increasingly desperate to cover up her fraud. She allegedly falsified account statements and lied to investors, claiming that accounts were frozen due to bank errors or government investigations. Despite her efforts to evade detection, Bennett was ultimately arrested and charged with multiple counts of fraud.

The episode provides interviews with some of Bennett's victims, who speak to the devastating impact her fraud had on their lives and financial futures. It also features commentary from legal experts and investigators who worked on the case, providing insight into the methods used by Ponzi schemers and the challenges of investigating complex financial fraud.

Through the lens of the Wealth Builder Club fraud, the episode explores the wider issue of financial scams and the dangers of blindly putting trust in financial advisors and investment opportunities. It highlights the importance of conducting thorough due diligence and being wary of promises of high returns that seem too good to be true.

Overall, "The Wealth Builder Club" offers a cautionary tale about the dangers of greed and the devastating consequences that financial fraud can have on individuals and communities.