This is the American Greet Podcast, presented by CNBC. I'm Stacey Keech.

In this episode of American Greet...

Hey, everybody, James the Cash Team here.

Investment advisors James Duncan and Hendrick's Money Castro claim to have the tools to make investors rich.

We're the 1%, 3%, 3%, 99%. All the sheep go to Bank of America. All the stallions come work with us.

But the home purchasing program they promote leaves investors on the hook for more than $100 million of debt.

It wasn't financial freedom, it was financial chaos.

While clients face foreclosure in bankruptcy, this slick tongue duo burned through nearly $30 million of their money.

That's not bad.

Music

Visionary entrepreneur James Duncan is a man with a heart of gold. Or so he says.

I care about what you want in life. And I want to talk to you and find out what you want.

And I will run through a brick wall to make sure that I do everything in my power to help you get what you want.

More like get what he wants.

By the time law enforcement catches up to him in 2008, he has masterminded a $125 million investment scheme that victimizes hundreds of investors.

But this story begins under the sunny skies of Southern California in 2003.

When he and a friend named Henryk's money Castro turned this modest two-story house in myriadta into a company called Pacific Wealth Management.

A name also used by a legitimate company in San Diego that has nothing to do with the scam.

The plan? Convince investors that they can find hidden treasures that no one else can see.

We are a counterintuitive organization. We find gold where gold does not exist.

Through telemarketing, word of mouth and seminars, Duncan and money Castro talk about the magical returns to be made in real estate investing.

So you buy a house for $500,000 and basically a year later it's worth $550,000. So there you have it. There's your 10%.

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