In the American Greed episode “Six Feet Plunder,” greedy businessman James “Doug” Cassity of St. Louis, Missouri is featured. He’s the guy who made close to $500 million from selling prearranged funeral contracts. Well, Cassity didn’t sell them – he sent young, sexy saleswomen to do the dirty work. The money collected by Cassity’s National Prearranged Services Inc. was supposed to be held in trust but it wasn’t. According to prosecutors, the money went into the deep pockets of Cassity and his family. More than 97,000 people lost money via Cassity’s Ponzi scheme.
Doug Cassity and his son Brent Cassity pleaded guilty. Doug, who had a previous conviction for investment fraud, was sentenced to nine years and seven months; Brent was sentenced to five years. American Greed airs Thursdays at 10pm on CNBC.