Thu, Feb 26, 2015
In less than four years Claudio Osorio steals more than $40 million from investors and the U.S. government. To draw big money and big names into his con, Osorio casts himself as a wealthy, brilliant international business tycoon. In fact, he is an international crook. His company Inno Vida's financial statements to the SEC in March list more than $35 million in cash. In fact, there is only $185,000 in company accounts. As investments pour in, so do lawsuits. In 2012 Osorio is indicted. He pleads guilty to wire fraud and money laundering, is sentenced to 12 and a half years, and ordered to pay back $24 million.
No investment idea is too exotic for visionary entrepreneur James "The Cash King" Duncan. He sets his sights on strip clubs, real estate, Iraqi currency, diamonds, and even mind control technology. And his over the top lifestyle is a devious facade built with empty promises, costing investors millions.