The real story of the Michael Ritter scandal will finally be told on in a TV documentary. A documentary team has put together a 1 hour episode on Ritter and will be airing November 28th.
The documentary team culled through all of the court documents, did their own independent research and invited everyone who was involved to participate. To no one’s surprise Michael Ritter and his cronies turned down the opportunity.
When Paul Hoag and his wife Susan Edwards met businessman and philanthropist Michael Ritter they were impressed with his high-flying resume, and over the course of five years the three became firm friends. So when Ritter offered Paul the job as second-in-command at his new and apparently successful company across the country, he and Susan couldn’t say no to what seemed like a golden opportunity, despite the fact that it meant leaving their family behind.
Things seemed to be going well and Paul as well as Susan, who was now the office manager, enjoyed the work with their friend in his grand new venture. But after a time, Susan became concerned that one of Ritter’s business partners was scamming him and she and Paul began to collect evidence to convince Ritter that he was being duped. However the tables were turned when it became clear that Ritter was in fact not only heavily involved in fraudulent activities himself, but his resume turned out to be founded on lies.
Ritter was just a conman whose trusted employees blew the whistle on his pyramid scheme, but not before Ritter had bilked more than $200 million dollars from unsuspecting investors and turned his back on his closest friends, leading them into bankruptcy.
The high-flying entrepreneur who loved the limelight and adulation from the public was finally convicted on two counts of massive fraud and sentenced to 10 years in prison.