American Greed: Scams, Scoundrels and Scandals Season 5 Episode 6 $1.2 Billion Scam: Ft. Frauderdale

In the American Greed: Scams, Scoundrels and Scandals season 5 episode 6 titled "$1.2 Billion Scam: Ft. Frauderdale," viewers are taken on a journey to the sunny city of Fort Lauderdale, Florida, where one man's greed caused unimaginable loss and devastation to countless investors. The episode details the rise and fall of lawyer Scott Rothstein, who managed to pull off one of the largest Ponzi schemes in the history of South Florida.

Scott Rothstein was a lawyer with an insatiable appetite for money and power. He had a reputation as a successful trial lawyer and was known for his flashy lifestyle and expensive tastes. However, it soon became clear that Rothstein's success was built on a foundation of lies and deceit.

Rothstein's scheme involved selling supposedly "safe" investments in structured settlements, which he claimed were settlements awarded in lawsuits that he had settled for a lump sum of cash. He promised his investors a guaranteed return on their investment, which was supposed to come from the monthly payments on these settlements. Rothstein boasted about the success of his investments and even created a lavish lifestyle to help convince investors that he was trustworthy.

The scale of Rothstein's deceit was staggering. He managed to pull in an estimated $1.2 billion from investors over the course of several years. He used the money to fund his extravagant lifestyle, which included a fleet of exotic cars, a private jet, and multiple luxury homes.

However, Rothstein's luck eventually ran out. In 2009, investors began to demand their money back and Rothstein was unable to come up with the funds. In a desperate attempt to keep the scheme going, he began borrowing money from new investors to pay off older ones. But by this point, the jig was up.

The episode details how the scheme unraveled and how Rothstein was eventually caught and brought to justice. Viewers learn about the involvement of the FBI, who launched an investigation into Rothstein's dealings, as well as the role of whistleblower Debra Villegas, Rothstein's former assistant, who decided to come forward and expose the scheme.

The fallout from Rothstein's scheme was devastating. Thousands of investors lost their life savings, and many were left in financial ruin. The episode features interviews with victims of the scheme, who share their harrowing stories of loss and betrayal. One victim, who invested more than $200,000 with Rothstein, describes how the scheme destroyed his family and left him struggling to make ends meet.

Overall, the episode is a cautionary tale about the danger of greed and the devastating impact that financial scams can have on people's lives. It serves as a reminder to always be vigilant when it comes to investing, and to never trust someone simply because of their flashy lifestyle or reputation.