Detailed text transcripts for TV channel - CNN - 20100716:00:54:00
24 hours a day, seven days a week. >> reporter: it wasn't. they pooled the money in shell companiesch using new accounts to pay out $51 million to investors that didn't get stiffed. and they lost nearly $50 million through their so-called risk-free trading program. all the while, giving investors phony statements showing solid gains. ♪ i promise >> reporter: this scheme lasted at least three years. by the time the government caught up with them, over $100 million had disappeared. >> bmw, lexus, collection of watches and fabrege eggs. cook pled guilty to mail fraud and tax evasion. he spent i...
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