CNBC’s American Greed: Scams, Scoundrels and ScandalsOn February 6, 2008 by Schnader
Judge Arlin Adams was interviewed for the CNBC series “American Greed: Scams, Scoundrels and Scandals” in connection with the Foundation for New Era Philanthropy “Ponzi” scheme fraud. The program was initially broadcast on February 6, 2008 at 9 p.m. on CNBC.
The Foundation, initially established by John G. Bennett, Jr. to advise non-profit organizations on management and fundraising techniques, became the corridor leading to the largest non-profit sector “Ponzi” scheme fraud in history – amounting to more than $400 million in swindled funds and victimizing 180 organizations and 150 of the most financially knowledgeable and experienced philanthropists in the country. Judge Adams, the New Era bankruptcy trustee elected by New Era creditors, eventually helped the Foundation to recover many of the lost funds.