tv The News With Shepard Smith CNBC May 12, 2022 12:00am-1:00am EDT
we'd have been all over it. (robert) you know, it's a shame there. (lori) it's a great product. that was a great product. always al . the new data that shows what every american knows, the cost of just about everything is still going up i am shepard smith, this is the news on cnbc inflation numbers again, coming high. >> year over year headline up 8 point %. >> what it means for gas prices and family budgets and the wall landed on tech stocks. good prices soaring. >> we have to keep investing in our farmers. >> the president's new plan to help boost crop production and how to counter what putin's war
had done to food supplies around the world. 40 billion tax dollars is going to help ukraine. ukraine troops push the russians in one area back to their border the senate debate on protecting abortion rights >> democrats could not have written more extreme legislation. >> the vote and what options remained should the court strike down roe v. wade? escapee captured creating jet fuel from the oil that cooks your fries. announcer: live from cnbc, the facts, the truth, the news from shepard smith good evening, inflation is rising again a monthly increase that threatens the economy expansion
makes the markets nervous and reek havoc on everyday americans. consumer price jumped by 8.3% over a year earlier, slightly better than the march's numbers but still, the highest level since january of '82 inflation is rising. you see the impact everywhere. air air airline fares up 33% energy at 30% and food at 9% president biden visited a family-run farm in illinois. he blamed food rises on russia's invasion on ukraine. >> right now america is fighting on two fronts, at home and inflation of rising crisis, owe are helping on the fight
america's farmers have under understand putin's war cut-off criti critical food ources the dow dropped more than 400 and the nasdaq and closed firmly in red. the tech sector got clauobbered. we'll speak to kayla tausche and dominique chu is here with us on how america is reacting on these surging prices >> you and i both feel it and every american feel it right now. the folks at cnbc commissioned a survey and they asked a lot of americans just exactly what they're going to do about those rising costs according to the survey, it is pretty telling, what are you going to do differently because of it? well, about 52% of respondents
s said they're going to cut back on dining out. 42% are going to cut back on driving. maybe for that summer vacation or road trips, drive less since fuel prices going up cancel out right, a trip or vacation or cancel subscription to a streaming service or switch to a generic private label process at your local store. what are people doing about it because of those prices within the last six months, you have seen people changed their behavior more than half of the people have cut back on dining out and 40% have cut back on driving and half canceled subscriptions and half canceled a trip or vacation we know this is the time of the year, entering the summer when vacations matter and those vacation costs are soaring right now. >> when you look across the board, dom, what's causing the most financial >> there is a reason why the biden administration is spending so much time messaging
specifically about gasoline prices and about food prices, and about shelter costs. take a look at the survey results. the thing that costs the most eggs for americans right now, 21% say it is gasoline prices and that's higher than housing cost comes in at 16% and food costs over 13% it used to be the food might have been the primary concern because everybody has to eat and not everybody is spending money on fuel but that's the reason why fuel prices, shep,are such a key to this whole messaging from the administration i would point this out that pessimism is growing >> dom chu, thank you very much.
president biden is vowing to bring down inflation kayla tausche is covering our coverage now >> reporter: top officials have been hopeful that inflation have peaked and their optimistic like options like used cars and gasoline, their policies have been working some what inflation is broadening out to housing and travel president biden and his chief economist both described prices as unacceptably high and renewed a push for the white house's signature legislation covering prescription drugs, child care and education. >> these are costs that families have to wrestle with everyday. they take a bite out of the family budget. we know those costs have been inc increasing faster than other decades. >> more government spending could add fuel to the fire
>> that's the bind, he wants to help families with the cost right now but he tried to help everyone, he'll be helping with one hand and raising prices with the other hand and those will roughly offset each other. >> grocery bills are rising. in april, the price for meat, poultry and eggs are up 14.3% over the previous year that's the highest jump since 1979 congress congresswoman porter says he refused to buy $10 for bacon spending considerable time looking for sandwich bread for under $5 anticipating that acute pain point for americans. president biden traveled to illinois growing out new plans to help farmers grow more wheat. any results from that small change could still take months to yield
shep >> kayla tausche, live at the white house. it looks like the invaders have their backs against the wall ukrainian counter attacks are driving russian forces back from the key city of kharkiv and pushing closer to their own border kharkiv is ukraine's second largest city right near russia ukrainian president volodymyr zelenskyy says his troops continue to recapture villages near kharkiv the ukrainians say this is video of them blowing up russia's most advanced, latest generation tank this is what those liberated villages looked like, drone video shows the sheer destruction left behind by heavy fi fighting here a crying ukrainian woman kneels down and kisses the ground, after returning home to her destroyed village. for the first time, a russian soldier is now set to stand trial for alleged war crime in ukraine.
nbc's cal perry is reporting live from the ukrainian capital, kyiv >> reporter: the announcement from the office of prosecutors here in ukraine of a war crime is a nation trying to come to terms of what happened during that initial invasion. this young sergeant was part of an armor column when a prosecutor broke through that column and split up, he ran to a village where he was ordered to shoot a civilian who was on a sf cell phone, his commander officer was worried the civilian was going to giver away their location we spent the day looking for that body of the russian soldier to understand how they were sent here and the reason they were sent here. here is that young soldier being dug up and locations of 200 soldiers being kept. russia does not want the bodies of these soldiers back to roam quickly, where the wives of some of those soldiers holdup in that plant of mariupol met
with the pope today asking him to broke a deal as the fighting there continues. as they enter two months of fierce fighting. shep >> cal perry, live tonight in kyiv 13 days after he escaped from an alabama jail, kcasey white is locked up there again the new charge he's facing and autopsy results for the corrections officer who helped him get away native american children beaten and abused, hundreds found dead near schools across the country. many of those schools run by the u.s. government. the details in the report just out. no fly experience, no problem. a passenger lands a plane after a pilot passes out here from the air traffic controller who guided him through it all ♪ i have moderate to severe plaque psoriasis.
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they say she later died at a near by hospital a man in vermont accused of murdering his grandfather in his sleep and later his mother on the high seas. federal prosecutors say he did it all for inheritance money nathan carmen walked in the courthouse today yelling to reporters. carmen appeared for an arraignment before a judge in vermont, officers arrested him yesterday. he's facing charges of fraud, murder in the first-degree
carmen took his mom on a fishing trip six years ago, sank the boat and killed her. he tried to make it looked like an accident but it was all planned. three years ago, he shot and killed his grandfather and cashed in. carmen denied killing his mother and grandfather, he says his mother's death was an accident cnbc on the allege murder on the high seas. >> reporter: in 2016, nathan carmen told the coast guard he was fishing with his mother when a funny noise started coming into the engine. carmen says he was bringing a safety bag forward when
when -- nathan white was found 0 miles. they never found his mother. linda disappeared and tied to the murder of her father prosecutors say nathan was the killer in 2013 bank accounts were set-up where nathan would get money after his grandfather's death totaling about $550,000. nathan started spending significant time with his father and convinced nathan's mother to make nathan the beneficiary of her side of the family's trust prosecutors say nathan shot his grapd father in the chest and
got the $550,000 prosecutors say the money started to run low so nathan arranged the fishing trip where he killed his mother and sunk their boat >> i had nothing to do with my mother's death >> several million dollars at least. >> reporter: nathan dropped his lawyers and presented himself. the case is still pending. >> the bottom line is i have no idea who killed my grandfather i know i did not >> reporter: nathan carman was in line to get $7 million and now he condition spend the rest of his life in prison. he has maintained his innocence this entire time shep >> perry russome, thank you very much at least 500 indigenous children died. that from a first of its kind, federal study out just today,
500 dead children. according to the interior department report, federal officials identified more than 400 schools where teachers forced native american students to assimilate into white society. they found more than 50 burial sites at or near some of those schools. many graves not even marked. these schools operated across the country for more than 150 years starting way back in the 1800s. often times, indigenous kids were taken from their families and banned and abused. many kids never went home. secretary holland rote, recognizing the impact of the federal indian boarding school system can't just be a
historical reckoning we must deal with these issues flying a plane is complicated, you have to change a long time before the faa will let you sit in the passenger's seat hear from the voice who guided him through it one reason people can't find their dream home, investors are sweeping in and buying them up sweeping in and buying them up w d turning them into a rental
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airplane that's what passenger darren erickson told controller the plane made it the palm beach, florida with harrison in the cockpit. when the pilot passed out, he unplugged his head set that left him to figure out how to plug it back in and then to ask for help getting the plane to the ground. according to data from flight aware, look a this the plane took off from the bahamas about an hour and a half in the balm beaches, air traffic control reports they were concerned when the plane started flying erratically air traffic controllers shocked to learn a passenger was
piloting the plane >> you just witnessed a couple of passengers land that plane. >> not a prop, go ahead and continue and we'll hold short. >> did you say a passengers landed the airplane? >> that's correct. >> oh my god, great job. >> no suflying experience. that controller calmly guiding harrison and the plane to safety in palm beach, their is nbc's kerry sanders. >> reporter: it could have ended so differently this 208 was at 9500 feet going 180 miles per hour when flight data shows it went into a nose dive, dropping in six seconds. the pilot suffering a medical emergency. >> i pushed him back and they get him out of his seat and they had to get on the controls and pull back the plane and climb out of the dive they were in
fortunately, a flight instructor was working extra shift at palm beach international airport. >> reporter: he began to talk to harris harrison >> try to hold the wing and see if you can start descending. >> reporter: what are you telling him to look at >> what are you seeing in front of him he says it is all black. >> reporter: bobby morgan was in a tower behind me telling him to adjust the throttle and descend and line up with the runway. and remarkably, a perfect landing. the pilot was rushed to the hospital where his condition is unknown tonight. the newly pilot taken photographs with his instructor. >> what a student? yeah, my best student ever >> reporter: no arguments there. for the news, i am kerry sanders. new tonight, from just south
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with the help of magical technology. but what about today? ♪♪ i can't wait for what tomorrow will bring, but in the meantime, let's enjoy the ride... ♪♪ buying a home is already so competitive, right now, big time investors are jumping in the mix they are converting them into rental properties. members of homeowner associations are fed up with it all. now some of them are fighting back, issuing rules to keep investors out of their subdivision. in charlotte, here is catie beck >> reporter: kerry millers says her community looks different than a year ago. >> if you put in an effort, they're going to want to put in the effort >> reporter: neighbors are
lookingl looking out for each other a frightening shooting outside a rental home is the change. miller blames the problems on what she calls the investors invasion a growing trend of cooperations buying single family homes and converting them to rental property >> reporter: across town, vincent evans say a flurry of investors buying followed by rental property with poor upkeep and criminal activities. >> these investors want to make money. >> reporter: there is no question that investors are making big buys in residential real estate. they were behind 18% of all home sales nationwide here in charlotte, 32% of all home sales went to an investor >> you are pricing people out and you are not giving people
the opportunity to acquire se equity >> reporter: some backed by wall street so homeowner association leaders like miller and evans have gone to work and changing the rules. >> we added a clause that new homeowners have to live in their house for two years before it could be rented of leased. while we don't target the in v investors per se -- >> reporter: both have seen a significant decline in investors buying and say conditions and safety have improved not all are convinced the process is fair. >> this is about homeowner associations dictating who can or can't live in the community. >> reporter: hoas are over reaching their authorities
>> making houses more restricting and less assessable. >> reporter: what do you say to that >> when you purchase your home here, you have the opportunity to read and review the do you me documents. >> do you think more hoas should be fighting back >> absolutely. >> reporter: for the news, i am k catie beck the mouse roars but it seems the devils are in the guidance that's what's topping cnbc "on the money. disney out with earnings today and it is a beat their streaming subscription are booming, despite pressure across the entire streaming pressure. disney plus added 8 million subscribers last quarter growth may slow in the second
half of the year and that sends shares down. dis disney's shares down 3.11% everyoneeven with the added subscribers stu student loan debt up to a high this year, a record amount comes amid of the pandemic cause. those loans have continued to pile up interests. they do require repayment during the pandemic and the michigan plant that prompted the baby formula shortage could be reopened it could get the facility back online within two weeks. from there the company reports it will take about six to eight weeks before the products hit the shelves. right now, abbott is waiting for
fda approval on wall street the dow is down 3.7% the nasdaq at a 3% drop. shepard smith on cnbc. it is the bottom of the hour, time for the top of the news one death every five minutes the new data on what's killing americans at an alarming rate. real fraud in a virtual war. the latest scam to hit the metaverse. but, first, a senate vote to protect abortion rights fails. 49 senators voted to move forward on the bill that would have protected abortion access nationwide even if the supreme court overturns roe v. wade, democrats needed 60 votes to pass it. they knew going in they did not have that vote they would hold the vote to
force every senator to stay his or her positions on abortion rights all 50 republicans voted to proceed the bill one democrat joins them. manchin thought the bill was too broad and he would support a narrower one chuck schumer sent a message to voters > >> the vote we took made crystal clear, the contrast between the parties have reapproached the elections. vote, if you want to see a woman to have control over her own body >> this failed vote came after a week of a draft opinion leaked cnbc's ylan moye is live in washington what happens now, ylan >> reporter: shep, democrats knew the vote was going nowhere.
they said this is just the beginning of the fight vice president kamala harris was visibly upset as she pre ssided over the vote. after she argued >> the senate failed to stand of a woman's right to make decisions over her own body. the majority of the american people believe in defending a woman's rights, her choice deciding what happens to her own body this vote clearly suggests that is the senate is not worthy the majority americans are on this issue. >> without a federal law, states will be the ones to decide whether women have access to abortion if the supreme court overturns roe v. wade. democrats calling out the two pro-choice female republican senators, murcowski and collins.
they voted against the bill and they have their own proposals to codify the decision. senator manchin will to support a narrower bill. >> i think that's what the american public wants and citizens deserve in this country. >> democrats are hoping this issue will galvanize voters and give them momentum heading into the midterm elections. >> i say to women across america like me and so many others, now is not the time to back down or sit down now is the time to lift up our voices and fight back. that's exactly what we are going to do. >> shep, several lawmakers plan to be a protest this weekend in front of the supreme court and across the country >> ylan moye, thank you very much how powerful is former president trump's endorsement in
2022 yesterday's republican primaries were a mixed bag mr. trump marking his first big endorsement loss of the year. this was a hotly contested race within two gop congressmen, after the state lost the seat in congress david mckinly who lost he also voted for the infrastructure package which has been one of president biden's biggest victories. former president trump is no longer in contentive court in new york he does need to pay $110,000 fine by next friday. if he does not, he'll keep racking up a daily penalty of $10,000. that's the rule today from a judge. about two weeks ago, that same
judge held the ex-president in contempt for failing to turn over documents to attorney general letitia james the fines were piling up they insist he did not have any documents the attorney general wants. today the judge froze the daily fines and agree to list the order if mr. trump meets certain conditions, that includes paying the $110,000 and providing sworn statements of how the trump organization handles and destroys records a settlement reach from surf side collapse, a family rec receiving nearly $1 billion. it is a much higher settlement than many kpexpected the judge says he was shocked
and other defendants are set to pay out $997 million the horrifying collapse happened last june. 98 people died rescuers dug through piles for weeks searching for survivors. lawyers worked on the near by building damaged and destabilize the tower. the building needed dire structural repairs of its own. fraud in the metaverse we reported trends on the virtual world, users can buy homes and attend concerts and dress their avatars and evern gamble now, regulators are cracking down on a virtual casinos with alleged ties to russia it is called flamingo casino club it is luring investors of false promises of richess.
>> reporter: joe stumbles on this flamingo casino club, promoting itself as a virtual casino in the metaverse, selling nfts for investors to get a piece of the action today texas and wisconsin and kentucky and alabama filed this 22-page emergency order. according to the order, the virtual casino had no affiliation of the actual hotel in vegas the account is negotiating with rapper snoop dog to buy metaverse plan to build on the casino is failing to disclose how it plans to fund this purchase. regulators say they used ip records and block chain analysis to trace the group far outside
the united states. >> it is operated by russia. >> that's when they started levelizing this. >> reporter: the virtual casino founder told investors, part of the process would be donated to suffering ukrainians >> they did not talk about how they're going to donate as to one person or two. they publicly proclaim it. >> any of the money benefiting to ukrainians? >> i have not seen any money benefiting ukrainians. >> what's happening is the tip of the iceberg we are seeing frauds, there are a lot of work here >> the metaverse casino has 31 days to come into compliance we reached out to flamingo casino club and snoop dog for comment. we'll let you know >> eamon, we learned costa rica
declared a state of emergency after a ransom ware attack, what's going on there? >> this is causing problems for the costa rica government. it interrupted the country's tax collection and exposed citizens personal information so it is not clear how they're going to resolve all this. hackers demand a enormous pay out to reisolatenable the syste. >> eamon javers, thank you never before so many americans died over overdose how different of drugs killing hundreds of people everyday. one of the largest migrations in u.s. history migrations in u.s. history why ba a ♪♪ ♪♪
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and killed today sh she was rea reporter covering ia refugee camp in the town of janine she was shot in the head during cross fires with palestinian gunmen a warning now. you can see the journalist's body faced down there next to her colleague. they were wearing bullet proof vests and identifying clearly as journalist al jazeera reports - >> she was carried and covered in a palestinian flag. israeli prime minister calling the shooting unfortunate but did not blame the israeli forces israel's defense minister vows a
transparent investigation of her killing. more than 100,000 americans died last year from drug overdoses. 100,000. that's an all time high according to a new estimate from the cdc. it translates to roughly one overdose death every five minute annual totals had been rising for decades. last year the u.s. had a 15% increase in deaths over the year before fentanyl and other synthetic opioids counted for two-thirds of opioid deaths in a statement today, the white house called the rate of overdoses unacceptable and promoted its plan to treat overdose medications such as narcan more cuban migrants are finding their way to the u.s. than any time in decades the reason
cuba is in real crisis the island nation is facing one of the worse economic calamity since the fall of the soviet un union. last summer the country wide protest over food and shortages led to a major crackdown the cuban government blamed a recent wave of migrations on the u.s. the year's long closure of consulates at the embassy at savannah led to the spike. last week the embassy there issued visas experts say the surge is due to a common factor, the pandemic and russia invading ukraine. now, they're calling this a perfect storm. here is nbc's morgan radford >> reporter: the largest mass migration in america's history nearly 80,000 cubans crossing the southern border the last six
months nearly five times higher than the same period last year. now, on track to out pace the mass cuban exodus in the 1980, that forever changed american history and u.s. politics. a journey happening again today. the one we saw firsthand as we embedded with the u.s. coast guard. >> we are here miles off the coast of florida and this is where the coast guard says they have encountered more cubans trying to cross in the last three years combined >> what goes into your mind when you see tons and dozens of people inside one of these boats? >> i try to have some sympathy >> reporter: which is my many are choosing a different path. hernandez crossed into the u.s. from mexico. just 2.5 months ago. >> reporter: you were walking on foot pregnant.
>> her husband was on house arrest back in cuba after being detained in a government protest last july. >> reporter: how did you feel d knowing your wife crossing the border alone >> i was afraid. >> reporter: you got to a river where the water was up to your knees. >> reporter: after a month, she was reunited raul fled to miami on a prepandemic visa a shortage of basic goods and a political environment made him feared for his son >> reporter: what is it that you didn't want your son to see? >> i didn't want him to grow up in a place where his family does not have a point so many people leaving our country. >> reporter: in the end, they made it. their son born in the united states a month ago >> was it worth it
>> reporter: it was worth it when you look back and look at how things are going for cuba, you know it is worth it. i am morgan radford. we are celebrating asian american and pacific islander this month and some cyclists in seattle are marking the month with a special ride. the journey is about culture and community and the love of the sport. cnbc's seema mody reports on a family built by biking >> reporter: on a saturday in seattle, gabe castillo, and his band of bicycle enthusienthusiss it is a ride they take most weekends but this one in may is special. >> this is a way to celebrate our culture and all things we have contributed to the united states >> reporter: bike clubs
specifically his club is 30% asians it was born 25 years ago because gabe wanted some riding buddies. >> back in 1997, i did a seattle, portland ride, there were 9,000 riders with me. i found to be lonely, i invited my relatives and rcousins to joi me that's how more philfilipinos to join >> reporter: the sense of comradery these bikes provide are important to filipinos >> we love to gather as a community and when cycling earn cou encourages a gathering that's part of our culture >> it feels like a family. >> reporter: monique cohen joined the group four years ago.
>> i think in asian community is all about family and gathering and being together and having a good time. >> reporter: biking is nothing new to seattle, gabe says it is the last 10 or 20 years taken hold in the community. >> there is a vietnamese cycling group and japanese cycling group. all these people have all the connection, it makes me feel great. >> for the news, i am seem seema modi two homes collapsing in the ocean. why meteorologists say they broken into pieces if you fly out of dallas/ft. worth, don't feel too bad enjoying some ea
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two coastal homes in carolina collapsing. one of the homes fallen yesterday. you can see the broken pieces. the coastal is to blame. it is causing dangerous high tides and strong winds and beach erosions this was the other house that collapsed, nobody was home either according to park service. more homes in the area could fall and that's the weather service warning of additional flooding ahead more than 90% of the great bar barri barrier reef corral suffered this year. cli scientists are warning this is the first time of llanina.
one of the busiest airports around the world is tackling res recycling and fuel cost together taking use of cooking oils from terminal restaurants and converting it to jet fuel. here is morgan chesky. >> reporter: an ambitious goal, net zero for greenhouse emissions by 2030. as fuel prices continue to spike nationwide with the tsa now anticipating more people flocking to the skies post pandemic. >> we expect this to be a busy summer >> reporter: getting there is requiring some super size creativity and a heavy seasoning of science >> if you are out at dallas/ft. worth airport -- you are recycling oil. >> reporter: a company called neste asked if they can connect used cooking oil from the store and transform it into pure get
fuel >> we can repurpose it, why would we not do that > >> reporter: the initiative draining each part of restaurant to fill up a massive tank. >> if you think about it, the fuel for your next airplane ride could start right here >> could start right here. >> reporter: it all comes down to chemistry >> you look at any oil, they have the building molecules, we can take those atoms and do some processing manic in our refinery and mimic to the jet fuel. >> reporter: it fuels out all those nuggets and fries and adds hydrogen >> at the end of the process, is
there any difference from your fuel to jet fuel the >> there is no difference, it is the same jet fuel you are using now. >> reporter: one load alone about 8,000 gallons worth have been shown to reduce carbon emissions by 19 metric tons. music to the ears of robert horton who oversees the airport's environmental affairs. >> this is one link to help us to get there in of itself is not going to accomplish everything we need but it is a starting point to help transition us >> reporter: the challenge now convincing other paairports to take part. a tall order but one they say technology is in order for for the news, i am morgan chesky 200 million years old
fossils stolen, and now the park rangers are on the hunt to get it back. here is a look at the prehistoric rock, they're dating back to the period somebody swipes the fossil from a national park in utah, sometimes between august 27, 2018 nobody knew who took them. officials offered a thousand dollars for leading to the thieve who word on why it took ranger sos so many years to discover the fossils were missing a bill to protect abortion
right failed this afternoon in the u.s. senate. all 50 republicans and joe manchin voted to tank it democrats needed 60 votes just to advance the bill. a new report found at least 500 indigenous children died in native american boarding schools that were backed by the u.s. government the school operated for more than 150 years, starting way back in the 1800s. now you know the news of this wednesday, may 11th, 2022, i am shepard smith, follow us on the shepard smith, follow us on the gram
lemons. lemons. lemons. the world is so full of lemons. when you become an expedia member, you can instantly start saving on your travels. so you can go and see all those lemons, for less. (fisher investments) it's easy to think that all money managers are pretty much the same, but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher investments. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different.
(driver) conventional thinking would say verizon has the largest and fastest 5g network. but, they don't. they only cover select cities with 5g. and with coverage of over 96% of interstate highway miles, they've got us covered. >> narrator: in this episode of "american greed"... brent and tyler cassity -- two brothers from st. louis are bringing a splash of show biz to the death biz -- turning cemeteries into festival sites and turning themselves into celebrities. but few know that their secret backer is their father, doug, who is stealing millions of dollars. with a little sleight of hand and age-old sales tactics... >> yeah, i think hooters had similar hiring requirements. >> narrator: ...his scheme costs victims an astounding $450 million, money doug generously shares with his wife and sons.