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'cag[related_primary]' : '' , Shawn Merriman, aka the Mormon Madoff, pleaded guilty to mail fraud in December 2009, earning a twelve-year sentence for Ponzi scheming that allowed him to amass an amazing collection of classic . They say the stock market hasnt worked for them, so they need to try something else. }; Name: Gerald Payne 'cag[template]' : 'special_reports' , 'path' : '/id/47881681' , const OneTrustCategories = { // check for region and redirect if country is in EEARegion 'is_sponsored' : '0' , Amount: $400M mps._queue.adview = mps._queue.adview || []; [Investors] cant go talk to [their] accountant or attorney, because that would violate the secrecy and exclusivity, Coenen said. Amount: $2.8B "":"no-")+"fn-start",[f.now(),r,o],n),o)try{return e.apply(this,arguments)}catch(t){throw c.emit("fn-err",[arguments,this,t],n),t}finally{c.emit("fn-end",[f.now()],n)}}}};a("actionText,setName,setAttribute,save,ignore,onEnd,getContext,end,get".split(","),function(t,e){h[e]=o(l+e)}),newrelic.noticeError=function(t,e){"string"==typeof t&&(t=new Error(t)),i("err",[t,f.now(),!1,e])}},{}],18:[function(t,e,n){e.exports=function(t){if("string"==typeof t&&t.length)return t.length;if("object"==typeof t){if("undefined"!=typeof ArrayBuffer&&t instanceof ArrayBuffer&&t.byteLength)return t.byteLength;if("undefined"!=typeof Blob&&t instanceof Blob&&t.size)return t.size;if(! function isEEARegionCheck() { mps.__timer = Date.now ? Name: Barry Minkow Theranos founder Elizabeth Holmes was sentenced today to more than 11 . The method of operations is simple. Victims: investors of Bright Point Wireless, National Lampoon Inc, and Obsidian Enterprises. return true; Name: Michael Mastramarino Meanwhile, Merriman, a former three-time Pro Bowl linebacker, was positioning himself for his own second act: mixed martial arts fight promoter and league owner. Fund manager & investment adviser Shawn Merriman takes money from investors to fund a lavish lifestyle, including $4 million in fine art, antique cars, and sports memorabilia. console.log('PUB-GDPR-CHECK'); Getting people to part with their money requires trust, Coenen said. mps._queue.adview = mps._queue.adview || []; const blockedCategories = decodeURIComponent(matches[1]) document.forms['formtop']['aff_sub4'].value = window.location ; var _qs = window.location.href; (function() { As part of today's sentence, Merriman was ordered to forfeit to the United States interests in all property constituting and derived from any proceeds that he obtained directly and indirectly as a result of the crime. TARGETED_ADS: 4, mps._queue.mpsloaded = mps._queue.mpsloaded || []; .split(',') Bush) or I'd be a pretty empty . 'cag[type_franchise]' : 'Crime|Investment Fraud|American Greed' , Despite numerous appeals while diverting money to other companies, the actual phone company was suspended and fined for lacking a license to operate VoIP. SummDok.innerHTML = ' More Information about "'+ fullname + '" ⤵ ️' ; Nobody would ever accuse Shawne Merriman of being soft. Scrushy was sued by investors and ordered to pay $2.8 billion, even though he was only convicted of bribery and mail fraud. Amount: $190M Shawne DeAndre Merriman was born on May 25, 1984 in Washington, D.C. If things dont make sense to you and you start questioning the investment, the exclusivity factor will help explain things away.. The Con: Tyco rose to fame in the '70s and '80s as an aggressive acquisition firm, acquiring more than 3,000 companies. const COOKIE_REGEX = /groups=([^&]*)/; document.cookie = "__adblocker=" + (adblocker ? FULL ARTICLE AT WIKIPEDIA.ORG fetch('https://geo.cnbc.com/info/').then(res => res.json()).then(result => { Victims: 800 wealthy investors, including fellow Scientologists and A-list celebrities. We want to hear from you. SummDok.innerHTML = ' Search More Information about "'+ fullname + '" ⤵ ️' ; This disambiguation page lists articles associated with the title Shawn Merriman. . }; Redirecting. Victims: More than 1,000 clients. All were disbarred. Referred to as a "Modern-Day Bodysnatcher", Mastramarino was sentenced up to 58 years in prison; insisting until the day he died that he was "misunderstood. Amount: $300M mps.response.dart.adunits[i].data = ''; Once trust is established, the scam has the potential to spread like wildfire especially at a time when nearly 1 in 4 financial fraud schemes in America are actually cases of affinity fraud, according to a recent report by Marquet International, a professional consultancy. 'stitle' : 'The Mormon Madoff: American Greed 63' , document.forms['form2']['fn'].value = name1; Victims, including his own mother, received 16 cents on the dollar threeyears after. Shawn Merriman's victims will begin receiving disbursements totaling about 16.5 cents on the dollar for their losses in Merriman's 2023 CNBC LLC. Shawn Merriman ran a $20 million Ponzi scheme before turning himself in during . @fubosports. Updated Sep 15, 2010, 9:25am MDT. Name: Bernard Madoff 'pubdate' : '1340203524' , 'is_sponsored' : '0' , TARGETED_ADS: 4, }); American Greed has the story of the money manager, the stripper and a multi-million dollar Ponzi scheme. mps._queue.refreshads = mps._queue.refreshads || []; script.setAttribute("src", "//www.npttech.com/advertising.js"); McClung stated that he had software to make automated trades on the foreign currency market, but he did not actually trade their money. Feb 2007 - Mar 20092 years 2 months. All Rights Reserved. 'cag[configuration_franchise]' : 'American Greed' , Shawn Merriman was sentenced to 12 and a half years in prison and $20.1 million in restitution for cheating at least 67 investors out of more than $20 million. It all came to a head in 2006. mps._queue.gptloaded.push(function() { if (typeof window === 'undefined') return; var script = document.createElement("script"); 'cag[type_cnbcteam]' : 'CNBC US Team' , mps._log('**** LOADED: cnbc-cms-header-insert'); It wasnt until Sylvester Stallone sued him that he was even discovered. 443.8K Followers. } else { if (!oneTrustCookie) return true; CG Boerner. mps._queue.gptloaded = mps._queue.gptloaded || []; Acting on behalf of the victims in the suit, these crooked legal eagles negotiated millions of dollars in attorneys fees from their unknowing client. if (!oneTrustCookie) return true; mps._queue.adload = mps._queue.adload || []; Pearlman enjoyed the lifestyle of a promoter while scamming on the downlow. 'adunits' : 'Default' , By: Jenna Martino|CNBC Associate Producer, The Mormon Madoff: How Shawn Merriman Scammed Millions. Victims: Numerous well-known investment funds, including ties to Israeli investors. Payne maintains his innocence from behind bars, saying he was supporting Christian causes in a gifting program. 10:45 AM ET Wed, 20 June 2012. Multiple inquiries into his shady business practices yielded nothing,and Madoff often bragged that the SEC wasnt "asking the right questions"or checking his records. if (!_qs) { fetch('https://geo.cnbc.com/info/').then(res => res.json()).then(result => { 'node_brand' : '2' , The Con: An ordained Scientology minister, Slatkin raised money from investors and scientologists by claiming to have devised a system to "beat the market." 'site' : 'cnbc.com-relaunch' , } cStart = cStart + name.length + 1; What folks didnt know was the "unbelievable returns"being tracked from the hedge fund werein fact thatunbelievable. As a result, Shawne was primarily raised by his mother, Gloria Williams, in a single parent home. isEEARegionCheck(); Name: Stan Chesley, attorney at law 'keywords' : '~' , 'template' : 'story_ng_2column' , Shawne DeAndre Merriman (born May 25, 1984), nicknamed "Lights Out", is an American former professional football player who was a linebacker in the National Football League (NFL). Working out of his garage, Slatkin sold phony investments in what was considered one of the largest Ponzi schemes since Charles Ponzi. } "host" : 'mps.cnbc.com', (function() { 'subtype' : 'primetime_show' , } Amount: $900M Hal Bjorklund, a Castle Rock businessman, met Merriman at a car show in the 1990s and ultimately entrusted $3 million with Merriman . cEnd = document.cookie.length; // script.setAttribute("onload", "setAdblockerCookie(false);"); cEnd = document.cookie.length; var SummDok = document.getElementById('Summ'); })(); Shawne Merriman is a three-time Pro Bowler and a two-time All-Pro as an outside linebacker for the San Diego Chargers. window.location.hash= '#form2'; (function(){ console.log('PUB-GDPR-CHECK oneTrustCookie matches: ', matches); } (Oh Mr. Greenfield, you so do not know me) the former Linebacker posted this today: Please DO show us your beauty and cool Merriman, we would absolutely LOVE to see! var postLoadFunctions = {}; American Greed Podcast podcast on demand - CNBC's longest-running primetime original series, "American Greed" takes you inside the amazing real-life stories of how some people will do anything for money. // var SummDok = document.getElementById('Summ1'); Jeff Risdon. "true" : "false") + "; expires=" + d.toUTCString() + "; path=/"; })(); Merriman pleaded guilty to mail fraud, and is currently serving a 12 -year sentence. Denver Admitted Ponzi-schemer Shawn Merriman was sentenced Tuesday to 12 years in prison during an emotion-filled hearing that included an appeal from his mother, one of his victims, to "make him pay." About 30 victims of the former Mormon bishop's $20 million fraud packed a federal courtroom in downtown Denver for more than seven hours . function names2(name1,name2,fullname) { 'subtype' : 'primetime_show' , Name: Reed Slatkin For 20 years, he enticed individuals and banks to invest in the company without ever producing any evidence they existed, including creating a "savings program." Falsifying claims for more than 1,500 individuals, he bribed judges and doctors into certifying false cases. if (typeof mps.getAd != "function") mps.getAd = function(adunit) { Name: Marc Dreier The Con: Durham was a tricky guy in Indiana, taking over his fathers business and then taking his Obsidian Enterprises public in 2001. A money judgment will then be entered against Merriman in the . mps._log('**** LOADED: Google PII Fix - cnbc-cms-header-insert'); Till now, his father's detail is unknown publicly. Among victims: his own mother. CONTENT_SELECTION_AND_MEASUREMENT: 7, The Ponzi scheme, which continued for 15 years, landed Merriman behind bars, and his investors out of money. 'adunits' : 'Top Banner|Badge A|Badge B|Badge C|Badge D|Flex Ad First|Box Ad 1|Non Iframe Custom|Inline Custom|Movable Box Ad|Responsive Rectangle' , How could they let this happen? Looking for Shawn Merriman? "443":"80"),r.hostname=e.hostname||n.hostname,r.pathname=e.pathname,r.protocol=o[0],"/"!==r.pathname.charAt(0)&&(r.pathname="/"+r.pathname);var i=!e.protocol||":"===e.protocol||e.protocol===n.protocol,a=e.hostname===document.domain&&e.port===n.port;return r.sameOrigin=i&&(!e.hostname||a),r}},{}],17:[function(t,e,n){function r(){}function o(t,e,n){return function(){return i(t,[f.now()].concat(s(arguments)),e?null:this,n),e?void 0:this}}var i=t("handle"),a=t(21),s=t(22),c=t("ee").get("tracer"),f=t("loader"),u=NREUM;"undefined"==typeof window.newrelic&&(newrelic=u);var d=["setPageViewName","setCustomAttribute","setErrorHandler","finished","addToTrace","inlineHit","addRelease"],p="api-",l=p+"ixn-";a(d,function(t,e){u[e]=o(p+e,!0,"api")}),u.addPageAction=o(p+"addPageAction",!0),u.setCurrentRouteName=o(p+"routeName",!0),e.exports=newrelic,u.interaction=function(){return(new r).get()};var h=r.prototype={createTracer:function(t,e){var n={},r=this,o="function"==typeof e;return i(l+"tracer",[f.now(),t,n],r),function(){if(c.emit((o? [00:01:04] Will Johnson: For the AARP's Perfect Scam Podcast, I'm your host, Will Johnson. // execute '); The Con: A luxury music festival scheduled to take place in Spring 2017 in Bahamas, Fyre Festival turned out to be a large, overblown advertising scam. John McTiernan 43029-112 el.parentNode.insertBefore(s, el); American Greed, "The Mormon Madoff: How Shawn Merriman Scammed Millions", 6/20/12, https: . document.forms['formtop']['aff_sub4'].value = window.location ; He passed away in June 2020. The Con: A couple of lawyers and a district judge were found guilty of taking bribes and covering up evidence in the Phen-Fen tort trial. const oneTrustCookie = getOneTrustCookie(); Name: Nevin Shapiro . return true; 'type' : 'cnbcnewsstory' , Investors are so eager to make money that they largely ignore the potential downsides of these investments. "updatecorrelator" : true (function() { typeof mps._gptfirst == "function" && mps._gptfirst(adunit, slotid); 'cag[brand]' : 'none' , Shawne Merriman is 6-4 (193 cm) tall. Marcillus Wiley, Claudia Jordan and Shawn Merriman Matt Levine, football player Shawne Merriman, singer D. Woods and singer Aubrey O'Day at Danity Kane's official album release party at The Bank. return _regex.test(_qs); Maybe he had a guilty conscience. Cosmo was jailed for an additional 25 years after violating bail by using a computer to try to transfer assets. mps._ext = mps._ext || {}; "),a=0;a !categoryPreference.includes('0_') && categoryPreference.includes(':0')) return _regex.test(_qs); While out on a shopping spree for companies, he was borrowing heavily into debt from companies he "owned,"thus creating the fraudulent loop. document.cookie = "__adblocker=" + (adblocker ? var _regex = /([^=&/<>()[].,;:s@"]+(.[^=&/<>()[].,;:s@"]+)*)@(([[0-9]{1,3}.[0-9]{1,3}.[0-9]{1,3}.[0-9]{1,3}])|(([a-zA-Z-0-9]+. Eventually, he did something unexpected he surrendered to federal authorities. document.getElementsByTagName("head")[0].appendChild(script); Got a confidential news tip? Name: Doug Cassity } 'template' : 'special_reports' , The longtime NFL linebacker was nicknamed "Lights Out" for his hard-hitting and merciless play for the Chargers. //begin OneTrust Redirect Amount: $35M When was Shawne Merriman born? Victims: 6500 investors in Agape World. } } Stephen Dunn/Getty. 'cag[related_related]' : 'Crime|Investment Fraud' , .map(categoryPreference => parseInt(categoryPreference.split(':')[0], 10));