American Greed is a series on CNBC that chronicles excesses of greed and dishonesty in America. In this episode we learn how Samuel Israel comes from a reputable background and begins a promising career. However his greed and folly gets the better of him, he makes big bets and loses a lot of client money, dipping into client funds to finance his lifestyle and ultimately gets conned himself in the final days of his fund as his increasing desparation sees him fall for a relatively unsophisticated scam. These kind of cases are very interesting, and provide a profound warning to investors to be very careful with their money - you need to very carefully examine where you put your money, because there are foolish and unscrupulous people out there.
Samuel Israel was a big money hedge fund manager desperate to succeed. He lived through the most decadent era in human history, and his hunger for fame and fortune — his greed — ultimately led to a scam that bilked investors out of $300 million.
This is the strange story of a con artist who eventually fell for the ultimate con himself!
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Finance Documentaries: http://www.financedocumentaries.com/2012/06/american-greed-hedge-fund-manager.html