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American Greed Podcast

Black Gold Bust

American Greed Podcast

CNBC

True Crime, Documentary, Tv & Film, Society & Culture

4.61.9K Ratings

🗓️ 1 August 2023

⏱️ 20 minutes

🧾️ Download transcript

Summary

Phony oil tycoon Gary Milby guarantees gushers of money to investors from his Kentucky oil wells. (Original air date 7/31/2015)

Transcript

Click on a timestamp to play from that location

0:00.0

This is the American Greek podcast presented by CNBC.

0:04.0

I'm Stacey Keech.

0:07.0

In this episode of American Greed,

0:10.0

good old boy Gary Milby raises millions

0:13.0

with his promises of Kentucky oil.

0:16.0

My son will be still getting checks

0:17.0

out for these oils whenever I'm gone.

0:19.0

And that's what I like, that's what I'm doing before.

0:21.0

But his guarantees of black gold aren't just unlikely.

0:25.0

They're impossible.

0:27.0

40, 50, 60 barrels of oil a day.

0:30.0

That's not going to happen.

0:32.0

Investors begin to wonder

0:34.0

where their money's gone.

0:36.0

And one answer comes in a surprising fashion.

0:39.0

I want that!

0:41.0

I'm not going to do that.

0:54.0

Bang!

0:56.0

Happy birthday!

0:59.0

By featuring lavish parties for 16-year-old girls,

1:03.0

the MTV show My Super Suite 16

1:06.0

is the definition of conspicuous consumption.

...

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