Search the Archive

Miami / Pyramid Scheme #71137

ABC Evening News for Thursday, Apr 16, 1981
View other clips in this broadcast →

Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws.

(Studio) Report introduced
REPORTER: Max Robinson

(Miami, Florida) Lee College reported investing most of its endowment fund with Barclay Fin. Corp., later discovered to be a fraud; details given. Estimated amount in question mentioned; Barclay's use of pyramid scan explained, diagrammed on screen. Fraudulent statements sent to Barclay's investors shown, discussed; emergency action filed here by Securities and Exchange Commission reported Amt. invested by Lynwood Maddox detailed. [MADDOX - reacts to scheme.] [Court appointed receiver Hugo BLACK, Junior - notes extent of fraud.] Barclay senior vice president Dennis Greenman noted unavailable for comment; details given.
REPORTER: Michael Connor

Connor, Michael;
Robinson, Max

Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.

Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:

  • You may request a loan of this video by registering on our website and placing an order.
  • You may visit the Television News Archive on the Vanderbilt campus to view on-site from the Archive's collection.
  • If you are associated with a college or university, you may ask your library if they would like to become a sponsor, which would give students and faculty at your institution the ability to view items from our collection.

If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.