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A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States

This story will snap you back into reality, letting you know that all that glitters isn't gold. In today's digital age, we are prone to fall prey to many scams. Scammers have been very good at fooling a person into giving up a huge chunk of their money.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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Such is the story of an American orphan who pulled one of the smoothest scams. Being a member of a Royal Saudi family is no joke. Despite his past, he decided to be one of the biggest con artists, and he proved it by becoming a millionaire.

A born liar

The story of this smart con artist began in 1970 when Jose Moreno was born in Colombia. Although there is very little known about his past, it is hard to understand the truth, as he was a born liar. Jose thrived when he deceived others, and he learned all this while being raised on the harsh streets of Colombia.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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Jose claims that he had a horrible childhood. It seems that he witnessed the death of his brother from his father's hands. They were poor and could not afford to feed him. But he soon moved to Michigan, where he was adopted and his name changed to Anthony Gignac.

A sex slave in Colombia

Anthony loved to tell stories from a young age. Not real ones, though; he made up stories that sounded impossible and unimaginable. He soon started telling these stories to his adopted parents in Michigan. It was supposed to be a fresh start for both the brothers, but the kind of stories he went on sharing made his parents re-think his mental health.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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He would make up stories about being captive in Colombia and being held as a sex slave and many other things that seemed impossible. The real problems started when he shared these stories with his friends at school.

Taking him to a therapist

These stories were getting far fetched even with the therapist. It seemed like he was not going to change anytime soon. He tried to impress his friends at school by telling them that his new parents owned half of Detroit.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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The family got questioned about it, and they could not have been more shocked. Gignac's family confronted Anthony about this, and he would not cooperate. More stories would emerge, and his parents were not ready to take on this problem anymore.

The Gignac family was in trouble

Added to these problems, the Gignac's were going through some personal problems themselves. Their marriage was in trouble, and they decided to split. This news hit Anthony hard, and he started troubling people around him even more.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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Anyone around him knew that he makes up stories that do not make any sense. He had very few friends, and those who were his friends were encouraging him to lie more. Anthony ran away from home at 17, and there is no news on what happened to his brother.

Getting into Juvie

After running away from home, he needed a new place to stay in. He spent some time in a juvenile detention center, but he got out and continued his work. It never bothered him that he was living a life of fake stories.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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Once he was away from home, the ideal thing for him to do, was to stay under the radar. But he was up to something else. He had recently learned that Saudi Men were rich and powerful. Having read scary stories about what they are capable of, he framed his fake story accordingly.

Fooling yet another family

The family that opened their doors to him believed the elaborate fake story he had weaved. It was 1987, and he claimed that he was the son of a rich Saudi man. This powerful family was reportedly searching for him, and he was running away from this so-called crazy family.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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He made up all sorts of stories about being caught by the Saudi secret police and that he was in great danger. They were naive enough to believe the young man and did not bother to cross-check if this is real.

He never stopped his act

Surprisingly enough, he managed to stay in this house for a long time, and they did not bother to check with the authorities about this. But this fake play was not going to go on anymore.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
Saudi Arabian millionaire arms dealer Adnan Khashoggi. Photo by Soraya Khashoggi/Getty Images

The police showed up at their doorstep one day, and they arrested him for fraud. They caught him live in the act of faking his identity, pretending to be the fifty-year-old arms dealer Adnan Kashoggi. Anthony took on a lot of guts, and we wonder how he thought he could escape with this elaborate lie.

Fail-proof plan

No amount of arrests or detentions helped him overcome this habit of telling lies. Once he was released from prison, he decided that he will be more careful with his identity. Since his second plan did not work out all too well, he decided to go back to square one.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
Adnan Khashoggi of Saudi Arabia Photo by Soraya Khashoggi/Getty Images

He decided to stick to the story of being a Saudi prince. Many people believed him, despite his American looks. He was able to manage to get away with it because he had a plan in mind, which was mostly fail-proof.

How did he manage to do it?

He studied the lifestyle of the royal Saudis and decided to imitate their persona. Once he figured out that the Royal Saudi family portrays a lot of confidence, he used the same on himself. It was pretty easy for him to pull off, considering how the Royal Saudis live in real life.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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They do not think twice before making a purchase. Whether it is a private plane or jewelry, they are not used to thinking twice about the things they set their heart on. Anthony arranged for a few fake license plates and other documents that made it look like he was the real deal.

Stealing thousands of dollars

His best strategy was confidence, and he would use that in every place possible. The main tactic used by him was to waltz into any place he wishes to and buy the most expensive item there. When it came to making an actual purchase, the card would get declined, and he would start yelling at the salesperson like it is their fault.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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After much fake acting, he would agree to let them go and that he would make the payment later on. Often he would make people call him "Your highness, and this is how he got away with paying for thousands of dollars.

Sultan Bin Khalid Al Saud

He had the audacity to boss around people and expected them to shower him with gifts. He changed his name to Sultan Bin Khalid Al Saud and demanded people to show respect to him.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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Anthony did not bother to learn even a single word in Arabic and most certainly did not act like one. The only thing he did was scream at people who questioned his authenticity. Following the rules of the country meant nothing to him, and he showed off his car and jewelry on social media, deceiving people for more than twenty years.

A free Ferrari

Pretty soon, he owned many fancy things like a white fur coat and fancy rings. To add to the effects, he even got a chihuahua and named him Foxy. He carried him everywhere in an LV bag and treated him like royalty.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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Soon he started wearing expensive shirts and dined only in the best of restaurants. The most surprising thing he pulled off is walking away with a free Ferrari. After having walked into the showroom and yelled at everyone, the fake prince walked away with the keys.

Shopping spree with a fake name

Not even one store bothered to check this person's background to verify if he was a prince or not. Anthony was now used to this extravagant lifestyle as a prince. Not a single person dared to ask him about his authority or his money.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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The fancier the place was, the more likely he would use his fake name to buy things. This orphan from Colombia flawlessly pulled off shopping in places like Saks Fifth Avenue in New York City. He carried on his grand scam for many years to come.

Tricking everyone possible

What's more? Not only did he fake large organizations to give him goods for free, he even tricked a guest into paying for his accommodation. Since the hotel here was not agreeing to his "pay later" scam, he promised a fellow guest that he would give him a small share of his oil field.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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The guest agreed to this without any paperwork. One of his other grand escapes also included buying a $50000 watch from the Saks department store. There is not a single posh place that he did not try his luck in.

Luck was not going to be with him forever

If you are going to brag about your property to someone, make sure they are the right crowd. This situation is where Anthony went wrong and did something that would lead to his doom.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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During a local party, he was boasting about his possessions to people there. After the party was done, Anthony was not ready to head back to his hotel all alone. In a drunken state, he did something that was one of the biggest mistakes of his life.

A wrong move

He invited two men to join him in his large suite in the Grand Bay Hotel in Miami. The gentlemen did not want to be disrespectful of the prince and agreed to join him. The moment they reached the room, the two men planned something evil.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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They closed the doors and started beating him up black and blue. After knocking him out, they stole as many things as they could and took away most of his valuables from the hotel room.

An international case

The Miami police were more than scared when they found out that a prince was assaulted and robbed on their land. By any means, they did not want an international case on them, especially when it happened with a young prince.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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They immediately called up the Saudi embassy, trying to figure out who Prince Khalil Bin Al-Saud was. And to their surprise, they had no idea who this prince was. Anthony was in for a long ride yet again in his life, but he managed to escape from Miami before the police could get their hands on him.

Escaped once again

The reputation and charm he created for himself made everyone around him believe him about his fake identity. If someone managed to question him about his authenticity, he would flash his Instagram profile by the handle princedubai_07.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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Some hotels have a policy where a guest could not leave without making a payment. And when they twisted his arm to pay, fellow guests would offer to pay for him, assuming that a large gift would come their way for this kind gesture. His social media account was filled with luxurious cars and Foxy.

Stealing $16000 from a university

If you think that he was ready to retire from this life, you are headed in a different direction. He showed no sign of slowing down or improving his act even. Anthony would set up meetings with large corporates to try and take their money.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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And not a single person checked this man's authenticity. He conned a university into giving him $16,000 for transfer changes after he made them believe that he would pay $45 million in a donation. How did one believe him when he did not speak the language or looked like a Saudi prince is a surprise.

His end was near

Finally, in the year 2017, his lies would come out in the open. He messed with the wrong person who knew many things about Arabic culture, being a millionaire himself. He was in touch with Carl Williamson, an investment manager who was trying to arrange clients for his fake sales in oil shares.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
MIAMI, FL - DECEMBER 07: Elle Macpherson and Jeffrey Soffer attend Perez Art Museum Miami - PAMM Premiere Gala at PAMM Art Museum on December 7, 2013 in Miami, Florida. Photo by Manny Hernandez/Getty Images

These clients were all eager to buy shares from the Saudi prince, so Carl invited Anthony for a meal. This is where his lack of research pushed him to his doom. When he met Carl and his supermodel wife Elle McPherson, he tried showing off a little too much.

Carl Williamson's observations

Being a millionaire himself, Carl had his doubts about this man's mannerisms from the start. But he chooses not to speak out and kept things to himself. A blunder was around the corner for Anthony to commit.

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Anthony was offered an elaborate buffet of food, and among many, he chooses to eat pork. Carl was quick to observe this as he knew that no Saudi prince would dare eat pork, let alone in a public setting. Carl asked his men to look into Anthony's life and confirm if he is a prince.

Arrested yet again

All his lies and deception were coming to an end after Carl doubted the supposed prince. Having been arrested ten times in the past did not help with his case. Anthony was arrested in the past but did not face charges after he faked his way out of prison.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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Each time he would bring up the fact that he was a prince that could destroy their lives. But this time, he was caught by someone big, and there was no way out. When he was allowed to make one phone call, he called a local lawyer. And the biggest mistake he committed here is that he ended up lying even to the lawyer.

Lying to his lawyer went horribly wrong

Having reported that he is from a different country, Anthony had to hire two bondsmen, who were also arrested that day along with Anthony. Since the lawyer had no idea about his fake claims, he requested the court to release him on bail along with his bondsmen.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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The moment he got out of jail, he shamelessly walked into a local American Express office. He demanded that they give him a $200 million limit platinum card. Of course, they were not ready to hand one, but he used his old tactic once more.

A $200 million limit card

After he yelled down the entire place and threatened them, they handed over this expensive card to him. Very soon, he was back to shopping for luxurious items and showered his lawyer and his bondsmen with gifts.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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But there was something that wasn't right, and the lawyer was quick to notice this. When they found out that he was faking his way through every place, they beat him up and put him in their car trunk. The next stop was at the Miami police station to hand over this fraud.

What's lost is lost

In the end, the con artist was behind bars and far away from this extravagant lifestyle. At the age of 48, he was finally caught for a crime that he has been committing since the age of 12. He confessed to his crimes and blamed no one but himself for these crimes. Even at this point, he claimed that he did not do anything bad he was only looking out for himself. He was sentenced to jail for 18 years and asked to pay restitution of $7 million. Of course, he did not have the money to pay off this large amount, so they ceased all his properties and possessions he owned.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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Anthony owned way too many cars, yachts, paintings, and designer clothes. The jewelry they ceased was estimated to be around $450,000. You can imagine the price of the other items he had. Fajardo Orshan was assigned as his Attorney, and she stated some final statements about his crimes. Anthony Gignac successfully fooled and conned people around him for more than three decades by pretending to be a Saudi Prince. His scams caused huge losses to many organizations and families. Many of them won't even see a cent of their money lost. Ever thought that a homeless person would fake his way into richness?

We've promised you some of the biggest scams in the history of the united states and we ain't gonna con you, so here they are:

The biggest scams take place in the minds of those who wanted big in life but never had the patience. A shortcut is never the path to success, but when pursued leads us to the wrong route. If you are wondering who are these people managing to successfully scam intelligent people, they are con artists. The term con artist itself was coined in the year 1849 after William Thompson tried his charm on people.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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He would try and woo his way into people handing over their watches to him, which he would take and flee. After the police named him the Confidence artist, it was later shortened and now used as Con artist. There is a long line of people who fake their way into riches and luxury. While the methods of each artist are different, the job is the same. Here is a list of the top scams ever conducted in history. Some of them even made it as Hollywood movies.

The Brooklyn bridge

If someone walked up to and said that you could buy the pyramids of Eygpt, would you believe them? Some may believe it, and others would laugh at your face. Believe it or not, people tried selling the Brooklyn Bridge. This scam started taking place in 1883 as soon as the bridge was completed from construction. This scam was not done by one person but carried out by multiple people.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
Brooklyn Bridge, New York, USA, late 19th century. Stereoscopic card. Detail. Photo by The Print Collector/Print Collector/Getty Images

Many of them would try and quote a price that would be too good to be true. Some cons even sold the bridge successfully. By selling, we mean conned them. One of the first ones to pull it off was Paches O'Day, who managed to sell it for $200 in 1899. William Mcloundy also managed to sell it but ended up in jail very soon. George C. Parker sold the bridge not once but several times throughout different periods.

Ponzi Scheme

If you have ever heard of the term Ponzi scheme, it was named after a man called Charles Ponzi, who first discovered this loophole among investors. Charles would often promise his investors either 50% or 100% profits on investors' money.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
Ponzi scheme inventor Charles Ponzi mugshot in 1920 Donaldson Collection / Contributor

He would simply use the cash from the new investors to pay off the old ones. That way, Charles maintained a decent name for himself in the market. Before he handed over the money to the old investors, he would keep a large share of it for himself. But he was caught soon and sent to jail in 1920. Very soon, he was out of prison, and he found new ways to con people. Finally, he was sent to prison for several years after his second arrest.

Lou Blonger, The king of the wild west

The biggest profit in a business is when you organize an unorganized sector and rule over it. While Charles was busy capturing New York, Lou Blonger was busy making a name for himself as the warlord of the west. He organized the crime in the wild west by working his way up.

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Lou was working out of Denver, Colorado but managed to run his business underground. Lou grew his contacts and started working with the big criminals in this area. A few of them he worked with were Bat Materson, the Earp Brothers, and Doc Holliday. He spent his final years in prison and died there.

Biggest email fraud

Today we are well aware of mail fraud and how it works. But back then, it was fairly new, and many people did not know that such a thing existed. In the year 1936, a total of 3000 people were conned into wasting their money.

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They all got a mail about a certain Jacob Baker who had passed and left his large property to none. It meant that the property was open to anyone with the surname of Baker. People jumped into the opportunity and signed up for it. They were asked to pay a small amount of money to claim this property. And the person who started this mail fraud walked away with $3 million.

McKesson and Robbins Pharmaceutical Scam

Some crimes are committed on such a large scale that they change the laws of the land. Such a scam was done by Philip Musica, who was a career criminal. During the late 1930s, pharmaceutical companies were much complicated than they are today.

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Because of complications, there were many loopholes created. Philip took good advantage of this situation and purchased a pharmaceutical company. He used this company to scam other larger companies. After successfully tieing up with fake companies, they grew their assets to hundreds of millions of dollars. The McKesson Corporation still exists and is in the same field but under the right hands.

Quiz Show Scams

What better way to get the audience excited than giving them large amounts of money by asking them a few questions? Yes, Quiz games were a success in the 1950s, and it became such a big hit that more than twenty-four quiz shows were aired at the same time.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
Photo shows Charles Van Doren as he is leaving the DA's office. Van Doren was investigated for fraud as a contestant on the "Twenty-One" quiz show. Here, he is talking to people outside of the office. Bettmann / Contributor

The first show, called the $64,000 Question, was the first quiz show to gain traction and success. But slowly, people started to question the authenticity of the game. After one of the winners claimed that the show was rigged, investigators began digging in deep. In this scam, nothing got proved, but all the quiz shows got canceled at once.

Payola Scams in the Radio Business

After the quiz show got revealed its scam, investigators were curious to see what other industries were running such scams. In one such investigation, a practice called Payola got revealed to the public. Record companies were trying hard to popularize their songs, and the only way it could happen was by getting more time on air.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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Congressman Oren Harris found out that the record companies were paying a large amount to radio DJs to play their songs for a longer time. After a long time, President Eisenhower himself stopped this Payola practice and apologized for trying to change the mindset of the public.

Con Man Cons Con Men

If you have seen movies about con artists, we are sure that you would have come across the famous Catch me if you can starring Leonardo Dicaprio. The famous Frank Abagnale Jr. Abagnale's conned people not in one sense but in different ways. From a young age, he was into conning people. Before he would reach his legal age, Frank had pocketed huge sums of money. Frank found a loophole in the system and passed millions of dollars worth of bad checks.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
WESTWOOD, CA - DECEMBER 16: Writer Frank Abagnale Jr. attends the premiere of "Catch Me If You Can" at the Mann Village Theatre on December 16, 2002 in Westwood, California Photo by Jon Kopaloff/Getty Images

To scatter his work and attract less attention, he played the role of a pilot, doctor, professor, and lawyer. He maintained all the professions in the best way he could. However, once he was caught, his skills were used in the police department to capture other con artists. He promised to live a decent life with a hard-working job, and he has been a star ever since.

Equity Funding Insurance Scam

If a company suddenly starts doing too well, people need to be wary of investing in it. Between the 1960s and the 70s, The Equity Funding Corporation of America was rising high in profits. They were soon seen as a role model to other businesses on this street.

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But little did they know that this corporation had faked more than 60,000 of its policies. They engaged in fraud with reinsurance companies. Sometimes, they would fake the death of an insured person and keep the money for themselves. They could take this scam for a longer time, and in the year 1973, they filed for bankruptcy, and many people ended up going to prison.

Crazy Eddie's fraudulent business

During the 1980s, one of the most successful business was run by Crazy Eddie's. Everyone adored Crazy Eddies and waited to watch their commercials on TV. This electronics store soon became a chain, but not many people knew that the business was running under fraudulent behavior from its inception.

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The owner was running all sorts of scams and avoided paying taxes. He saved money in whatever way he could and started using the same money to bring back business. Soon he went bankrupt and ended up spending only six years in prison for his activities.

Three-Wheeled Scam of the Future

During the 1970s, there was a panic among people that the fuel industry would soon be out of fuel. Geraldine Elizabeth Carmichael was the woman with the solutions. 20th Century Motor Car Corporation claimed that their company could solve the fuel crisis of the world.

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Their car Dale was marketed to get 70 miles per gallon. Naturally, the investment of people was high, and soon they had $30 million. They made more millions when the car started selling like hot cakes in the market. But later, it was revealed that no such car existed.

FBI Hustle Turned American Hustle

Another scam that turned into a movie was the scam done by Melvin Weinberg and his girlfriend. They were already caught for being a part of many scams, but the web of fraud got bigger as they became wanted by the FBI. He was involved in a sting operation to bust out many other corrupt government officials.

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This project was called Abscam, and they used phony Arabic sheiks to trap them. In the end, around six corrupt congressmen and their dirty work were out in the open.

ZZZZ Best cleaners

After the famous Ponzi scheme, other people around the world tried conning people in their local community. ZZZZ Best Cleaners also tried their hand in Ponzi Scheme, and the mastermind behind this was Barry Minkow.

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At first, he worked hard to bring the business on the map, but once it started gaining some recognition, he was tired of working hard to reach higher. By 1986, they were showing $300 million as their worth, and soon people realized that he was running a Ponzi scheme. Minkow was bankrupt and ended up spending twenty-five years in jail.

Praise the Lord Ministries

Your faith in God should remain in your heart. If people are trying to put a price on faith, then it is the first sign of a scam. When people do collect money for genuine reasons, they usually don't demand it or guilt you into giving it up. Popular televangelists Jim Bakker and his wife Tammy Fae were involved in a large scam with their Christian programs. Praise the Lord Ministries started one scam after the other and pulled out money from all its devotees.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
Televangelist Jim Bakker holds newspaper articles about his marital and financial improprieties in his South Carolina office. Bettmann / Contributor

All his work would not have come out in the open if not for his sex scandal with his church secretary, who claimed to be raped by Jim. After investigations, it was revealed that Jim had extracted around $158 million from his work and ended up spending a lot of time in jail.

Insider Trading on Wall Street

Wall Street was booming during the 1980s, and more and more people wanted to become wealthy. The societal barriers had slowly started to shed at this time, and people were ready to try any tactic to get famous.

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Because of this man, every employee is liable to sign a contract of employee confidentiality today. Ivan F. Boesky was seen as one of the most successful traders on wall street, and his big secret was Insider trading. He would illegally sell inside information for other's benefits and ended up spending only three years in jail.

Charles Keating

During the 1980s, the world was facing a lot of revelation at the same time. It allowed for many loopholes in the government laws. Because of so many loopholes to escape, many frauds used to take place on Wall Street.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
Washington: Lincoln Savings and Loan Association owner Charles Keating appears before the House Banking Committee. After being sworn in, Keating informed the committee that he was exercising his constitutional prerogative and refused to testify. Bettmann / Contributor

Charles Keating was one of the con artists who took money from the bank to back up his scams. He cost many people their life savings, and many taxpayers were also at a loss because of this man. His scams got revealed, but his support was backed by people in the government. Even though he got charged with a federal civil racketeering charge and a fraud suit, he did not go to jail.

The Wolf of Wall Street

Here we have yet another famous movie that was based on a real-life scam. It looks like Leo can perfectly play the role of a con man. Because of the lifestyle maintained by Jordan Belfort, this scam became famous.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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Otherwise, it would have got dusted under the rugs like the others. The wolf of wall street is based on Jordan, who used a strategy called the pump-and-dump scheme. Belfort was using this scheme to make lots of money for the company and himself. After a while, the power drew him into madness. Sex and drugs were his daily activities, and he ended up in prison but for hardly anytime.

20-Year Ponzi Scheme

We have the Ponzi scheme taken to the next level here. James Paul Lewis Jr managed to fool people for more than two decades. He never made any real investment from the Financial Advisory Consultants. James only used the money from new investors to pump it to the old ones.

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Towards the final days of his scam, he ended up making around $814 million. After more than 20 years of running away from his investors, he was finally arrested in 2004 in Houston, Texas.

Con After Con

This man had more than one back up in his sleeve. We suppose that he had seen people getting caught left and right, which is why he took certain precautionary measures. Sam Israel III started a company as a front for his Ponzi scheme.

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To make sure that he has good reports about his company, he created another fake audit company. This fake audit company would, in return, give in good reports about the Bayou Hedge Fund Group. Sam got caught and jailed before there was way too much damage. But as we mentioned earlier, he was prepared for this. He faked his death and is on the run ever since.

21st-century scams

The beginning of the 21st century allowed many scams to take place. With the technology boom happening in several parts of the world, scams would now be carried out with ease. Charles Forbes, the CEO of Cendant, was into the business of real estate and travel services.

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He scammed his investors and submitted false paperwork. Forbes spoiled everything for his company by single-handedly bringing down $14 billion in one day. Charles was also sent to prison only for ten short years for his scams.

Fruit Basket Scam

After many people got caught for committing the crime the old fashioned way, people had to come up with more creative ways to fool the public. Emanuel Pines started a company called Centennial Technologies Inc. People had no idea why Centennial Technologies was doing so well until they found out the truth.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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They were doing a good job inflating the earnings of the company. Centennial Technologies sent out many fruit baskets on Christmas and claimed it was purchased by customers. He made investors lose big money on this, and he was charged to pay around $150 million in a settlement but only five years in jail.

Celebrity scam

When it comes to celebrities, even they can get over greedy sometimes. Such was the case with Reed Slatkin, who was a big man in Hollywood with lots of contacts. Not only was he the owner of EarthLink but also a minister in Scientology.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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He managed to scam Hollywood biggies like Giovanni Ribisi and Greta Van Susteren. Because of his well-established name, he was able to run a Ponzi scheme for more than 15 years. He tricked investors into losing more than $600 million to his companies. He was found guilty and charged.

Wall Street giant

The largest case of corporate bankruptcy was reported by another big man on wall street. Enron was the face of one of the biggest scams ever pulled during the beginning of the 2000s. He got caught in between several accounting lies and ended up costing the investors.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
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At one point, Enron's stock was close to $100, which dropped drastically to less than a dollar, which revealed his fraud. After losing 74 billion dollars, the investors claimed this was the biggest financial fraud ever committed up until then.

$15,000 Umbrella Stands

People learn by looking at the best, and once Enron led the road toward 21st-century fraud, many others followed. The CEO Dennis followed the footpath of Enron as he tried to scam his investors. Accounting fraud was one of the biggest scandals taking place during that time.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
NEW YORK - NOVEMBER 7: (FILE PHOTO) Dennis Kozlowski, Chairman and CEO of Tyco International, attends a conference November 7, 2001 in New York City. The Securities and Exchange Commission charged Kozlowski, former Tyco International Ltd. chief executive, and two other former executives with failing to disclose millions of dollars in secret corporate loans September 12, 2002. Photo by Mario Tama/Getty Images

Tyco executives and other people who worked for this company were all under elaborate instructions. They made weird purchases like a $15,000 umbrella stand and $6000 shower curtains. Although he spent less time conning people, he spent around six years in prison.

Fallout From Enron

Arthur Andersen LLP was sent to prison for participation in the scam, and only one month after his arrest, WorldCom declared bankruptcy. The amount of scam done by this company was comparatively less than that of Enron or Tyco.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
NEW YORK - MARCH 15: Former WorldCom Inc. Chief Executive Bernard Ebbers arrives at Federal Court March 15, 2005 in New York. A federal jury deliberated eight days before returning guilty verdicts on one count of conspiracy, one count of securities fraud and seven counts of false regulatory filings, crimes carrying up to 85 years in prison. Photo by Chris Hondros/Getty Images

But a loss is a loss, and investors are the ones who ended up suffering here. Bernard Ebbers was the owner of WorldCom, and he committed accounting fraud to trick investors. He got thrown in prison for twenty-five years and paid huge amounts in fines.

HealthSouth

I wonder what keeps scammers going even when they know that they will get caught eventually. The world did not learn its lesson after Enron, Tyco, and WorldCom. HealthSouth also created accounting fraud and inflated its profits.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
BIRMINGHAM, AL - APRIL 9: (FILE PHOTO) Former HealthSouth CEO Richard Scrushy (C) leaves Federal Court with his wife Leslie and members of his legal team April 10, 2003 in Birmingham, Alabama. Scrushy was indicted November 4, 2003 on 85 counts, including securities fraud and false certification of corporate statements, in a massive federal fraud case. Photo by Gary Tramontina/Getty Images

The fact that it considered being one of the most successful health care companies, there was hardly anyone who doubted them. Their involvement in the scam only gave them entry tickets to prison for a long time. $2.8 billion worth of scam was conducted in charge of Richard Scrushy.

Fannie-Mae

The real estate business was one of the sectors where scams could be easily done. And Fannie Mae was ready to jump on to this opportunity. Many employees in Fannie Mae were also aware of the scam scheme of the company.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
WASHINGTON, DC - DECEMBER 01: Fannie Mae President and CEO Michael Williams testifies before the House Financial Services Committee's Oversight and Investigations Subcommittee December 1, 2011 in Washington, DC. The CEOs testified to the subcommittee about oversight of the Federal Housing Finance Agency. Photo by Chip Somodevilla/Getty Images

They tried to cover up their crimes after paying themselves a huge bonus. Once they got caught, the entire empire came down, and they were ordered to pay back $400 million. This scam not only affected the investors but affected every person in the United States of America.

Arms and ammunition fraud

Dealing with arms and ammunition is one of the most dangerous business to get into. But 20-year-olds Diveroli and his partner David Packouz secured a contract with the government for arms.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
HOLLYWOOD, CA - AUGUST 15: Alex Podrizki and David Packouz attend the premiere of Warner Bros. Pictures' 'War Dogs' at TCL Chinese Theatre on August 15, 2016 in Hollywood, California. Photo by Barry King/Getty Images

They wanted a supply of guns for American soldiers who were stationed in Afghanistan. But the partners decided to buy cheap Chinese guns for the sake of fulfilling their contract. We cannot believe that the government trusted two boys with a deal of $300 million. No background checks were done on them before they were approached for guns.

Bernie Madoff

If you are looking for a much grander scam that took place in history, then Bernie Madoff is the man who proves it to you. His Ponzi scheme was off the charts, and he fooled his family members and friends as well. He conned people for more than thirty years and ended up making around $19 billion.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
NEW YORK - MARCH 10: Financier Bernard Madoff leaves Manhattan Federal court March 10, 2009 in New York City. Madoff attended a court hearing regarding the conflicting status of his legal representation in his multi-billion dollar fraud allegations. His lawyer, Ira Sorkin, has told a judge his client is expected to plead guilty to 11 counts including money laundering, perjury and securities, mail and wire fraud. Photo by Mario Tama/Getty Images

Bernie was seen as one of the world's biggest investors, and no one was able to believe that things would take a turn for the worst. After having to admit to his crime, he was sentenced to 150 years in jail, which means that he is going to die there.

The Greatest Party That Never Happened.

These kinds of scams are more common in recent years, but fewer people fall for them. The 2017 Fyre Festival was marketed as a posh music festival for VIP clients. After promising them the most exquisite experiences, they were lead to a shady place in the Bahamas, which had cold sandwiches and power supply problems.

A Con Man Story: The Fake Saudi Prince And The Biggest Scams In The History Of The United States
NEW YORK, NY - FEBRUARY 14: Billy McFarland (L) and Liam McMullan attends Galore X Magnises Fashion Week Valentines Day Dinner at Magnises Townhouse on February 14, 2015 in New York City. Photo by Robin Marchant/WireImage

Billy McFarland was the man behind this and was soon caught and sentenced to prison for six years. If you wish to see a detailed explanation of this, you can find it on Netflix under the name FYRE: The Greatest Party That Never Happened.