American Greed: Scams, Scoundrels and Scandals Season 14 Episode 12 A Father's Fraud

American Greed: Scams, Scoundrels and Scandals is a true crime television series that airs on CNBC. Season 14 episode 12, titled "A Father's Fraud," tells the story of a man named Stephen Day who embezzled millions of dollars from his employer, a pharmaceutical company called Lotus Pharm.

Day had worked for Lotus Pharm for over a decade as the company's head of finance. In that role, he was responsible for managing the company's budget and ensuring that it stayed profitable. However, Day was also struggling with a gambling addiction, and he began to steal money from his employer to pay off his debts.

Over the course of several years, Day embezzled over $20 million from Lotus Pharm. He did this in a variety of ways, including falsifying expense reports, making fraudulent wire transfers, and creating fake suppliers. Day also forged signatures on checks and even took out a loan in the name of the company.

As his crime spree continued, Day became increasingly brazen. He used the embezzled funds to buy a yacht, a luxury car, and a home in the Hamptons. He also gave his children lavish gifts and paid for their private school tuition. Day's family had no idea where the money was coming from and assumed he had made a smart investment.

Eventually, the scheme came to light when Lotus Pharm's CEO became suspicious of Day's behavior. After conducting an internal investigation, the company discovered that Day had been stealing from them for years. They immediately fired him and reported the theft to the authorities.

Day was eventually arrested and charged with multiple counts of fraud and embezzlement. He pleaded guilty to the charges and was sentenced to 10 years in federal prison. The episode explores the impact that Day's crime had on Lotus Pharm, his family, and the victims who were affected by his actions.

American Greed: Scams, Scoundrels and Scandals has been praised for its in-depth reporting and compelling storytelling. The show has tackled a wide range of white-collar crimes, from Ponzi schemes to insider trading to identity theft. Each episode features interviews with the key players in the case, as well as experts who provide analysis and insight into the crime.

Overall, "A Father's Fraud" is a gripping episode of American Greed: Scams, Scoundrels and Scandals that highlights the devastating impact that financial crimes can have on individuals and companies alike. It serves as a reminder of the importance of accountability and transparency in the business world, and the need to remain vigilant against fraud and corruption.