American Greed: Scams, Scoundrels and Scandals Season 2 Episode 2 When Greed and Giving Collide/Confessions of a Con Man

When Greed and Giving Collide/Confessions of a Con Man is the second episode of the second season of American Greed: Scams, Scoundrels and Scandals. The episode is an in-depth look at two separate fraud cases, one of which involves a non-profit organization and the other involving a con artist who defrauded investors out of millions of dollars.

The first case focuses on the story of James Reynolds, who is the founder and CEO of a non-profit organization called 'Gospel for Asia.' The organization claims to provide humanitarian aid to impoverished communities in various parts of the world. However, an investigation discovers that the organization is instead fleecing its donors out of their hard-earned money.

The episode takes viewers through the trials and tribulations of the donors who believed that their money was going towards charitable causes. They recount their shock and horror when they discover that Gospel for Asia had been diverting their donations to purchase lavish estates in the United States. The donors voice their frustrations as they struggle to get answers from the organization's leadership and find out what happened to their money.

The episode also exposes the leadership's attempts to cover-up their activities and use church doctrine to silence those who question what was happening. Additionally, the episode examines the role of financial auditors in detecting these types of fraud schemes and how they should have uncovered these fraudulent activities sooner.

The second case presented in this episode is that of Sam Antar, a notorious former con artist who defrauded investors out of millions of dollars. Antar was the mastermind behind one of the most famous penny stock schemes, Crazy Eddie. The scheme involved a chain of electronics stores that inflated its revenues, lied about its profits, and falsified inventory levels.

Antar is candid about his misdeeds in this episode, recounting how he defrauded investors and the lengths he went to deceive them. The episode sheds light on the motivations behind many Ponzi schemers and how the lure of easy money can lead people down dangerous paths. It also explores the reasons why so many people fall victim to investment scams and how a basic understanding of finance could have helped them avoid becoming a victim.

In conclusion, When Greed and Giving Collide/Confessions of a Con Man episode of American Greed: Scams, Scoundrels and Scandals exposes the murky world of charity fraud and penny stocks scams. The episode enlightens viewers on the dangers of blindly trusting charities and investing, without conducting sufficient due diligence. As such, it is a must-watch for anyone who is interested in understanding the psychology of fraudsters and the reasons why people become victims of investment scams.