‘American Greed’ show focuses on Scottsdale man

A Scottsdale man convicted in an advanced-fee lender fraud case is the subject of CNBC’s “American Greed” show that will be broadcast Friday evening.

Andrew Bogdanoff, founder of Scottsdale-based Remington Capital, pleaded guilty in 2013 to mail fraud in a scheme that involved 1,900 victims and $26 million, according to David Axelrod, former assistant U.S. attorney for the Eastern District of Pennsylvania.

“It was so large and went of for so long,” Axelrod said of the scam that operated from 2005 to 2011.

MORE:Scottsdale man indicted, accused of fraud

RELATED:Founder of Remington Capital sentenced

The fraud was similar to what was depicted in the 2013 film “American Hustle,” he said.

Bogdanoff was sentenced in March 2014 in federal court in Philadelphia to more than 18 years in prison.

Bogdanoff’s son, Aaron, and four other men were also charged in the fraud that operated out of Scottsdale and Philadelphia. The others are Matthew McManus of Glenside, Pa., Shayne Fowler of Scottsdale, Joel Nathanson of San Diego and Frank Vogel, of Rochester Hills, Mich.

The FBI raided Remington’s office in the Scottsdale Airpark in March 2011. The Remington principals were indicted in 13 months later.

Check local listings for the CNBC broadcast time on Friday. You can watch a preview here:

Article source: http://www.azcentral.com/story/news/local/scottsdale/2015/07/08/american-greed-show-focuses-convicted-scottsdale-man/29879353/