The American Greed episode ‘The Bad Neighbors’ features the life of Steven Palladino. While running an ice cream parlor in West Roxbury, Massachusetts, above the parlor Palladino also ran a Ponzi scheme with the help of his wife Lori and adult son Gregory. Under the name Viking Financial Group, Inc., the Palladino family accepted more than $10 million in investments from their friends and neighbors. They led a lavish lifestyle – they gambled in Vegas, spent tens of thousands on expensive vacations, and Steven paid the rent of his mistress.
In 2014, Steven Palladino was sentenced to 10 years in prion; Gregory got two years, and Lori got five years of probation. American Greed airs Thursdays at 10pm on CNBC.
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