American Greed: Scams, Scoundrels and Scandals Season 9 Episode 2 The Playboy of Indiana

The episode titled "The Playboy of Indiana" from season 9 of American Greed: Scams, Scoundrels, and Scandals focuses on the story of Tim Durham, a successful businessman from Indiana who seemed to have it all. But as the episode begins, we quickly learn that his success came from fraudulent and unethical practices.

Durham's story is a classic case of greed gone unchecked. He began his career as a securities broker, but quickly moved on to bigger and riskier ventures. In the late 1990s, he joined forces with Jim Cochran and a private equity fund called Obsidian Enterprises. Obsidian claimed to specialize in "distressed" businesses, buying them up and turning them around for a profit. Durham quickly rose through the ranks to become the CEO of Obsidian, and it seemed like there was no stopping him.

But hidden behind this façade of success was a web of lies and deceit. Durham and his associates began a practice called "loan stacking," where they would take out multiple loans on the same asset in order to keep the money flowing. They used these loans to finance their lavish lifestyles, which included buying expensive cars, boats, and houses. Durham himself was known for his love of fast cars and beautiful women, and he spent his ill-gotten gains on partying and extravagance.

The episode goes into detail about the specific schemes Durham used to defraud investors and banks. He would often create fake financial documents, exaggerating the value of the businesses he was investing in. He also promised investors that their money was secure, but instead of investing it into real businesses, he used it to fund his personal spending. When investors began to ask questions about the legitimacy of Obsidian's investments, Durham and Cochran told them that they had to remain quiet in order to avoid drawing attention from the SEC.

Eventually, Durham's schemes fell apart. In 2009, the FBI raided Obsidian's offices and Durham was arrested. He was charged with 12 counts of wire fraud, securities fraud, and conspiracy, and in 2012 he was sentenced to 50 years in prison. Durham's sentencing was a monumental moment in the fight against financial fraud, and serves as a cautionary tale for those who think they can get away with unethical behavior.

Overall, "The Playboy of Indiana" is a gripping and disturbing episode of American Greed. It exposes the dark side of the American dream, where greed and corruption can lead to ruin. The show offers a sobering perspective on the lengths people will go to in order to achieve success, and the devastating consequences that can result from such behavior. It's a must-watch for anyone interested in true crime or the psychology of white-collar criminals.