He called himself “Mr. Social Security.” And in a way, he was: Attorney Eric Conn ripped off Social Security for $550 million. Conn told his clients in Kentucky that he could get them disability money that they couldn’t get on their own. CNBC has a look at how Conn pulled off his con:
What Conn was not telling clients — or the Social Security Administration — was that his purported 99 percent success rate was the result of hundreds of thousands of dollars in illegal payments to Social Security Administrative Law Judge David Daugherty, who essentially rubber-stamped the claims. When the scam finally came to light, Social Security suspended disability payments to some 1,700 recipients, leaving many in desperate straits.
Click here to find out more about how Conn pulled it off, and how it could happen again. Go inside Eric Conn’s massive con, and see how he almost got away with it, on an all new episode of CNBC’s “American Greed,” Monday, April 2, at 10 p.m. ET/PT only on CNBC.