All language subtitles for American Greed s06e02 Master of Deadly Deceit Money

In this episode of American Greed,
Carlos Perez Olivo, a lawyer with a

tongue. He had a gift. His voice, his
diction. He was an actor.

And solid gold taste.

Even though I made a lot of money, I
spent a lot of money.

But when he's disbarred for fleecing
desperate clients, he finds another way

make money.

Oh, my goodness.

He's really that greedy.

And proves that greed really is a deadly
sin.

You have a disbarred lawyer.

You have a plain wife.

You have a mistress. You have a life
insurance policy.

Just an unbelievably gripping saga.

Are you driving a car right now? I'm
trying to get my life to the hospital.

I think you might be, I think you might
be shot.

On November 18th, 2006, former attorney
Carlos Perez Olivo and his wife

Peggy are leaving a fancy dinner in
Manhattan and heading home to

County.

It's a typical Saturday night in what
seems like a fairytale marriage, one

started more than 30 years ago, and one
Perez Olivo says he had a feeling about

from the first night they met.

Basically... I talked to her all night.
I saw her the next day, and by the end

of the next day, it was like I'd known
her all my life.

Three or four weeks after that, I got
rid of all the other girls that I knew.

Three months after that, I proposed to
her, and six months after that, I was

married.

They have three children together, and
Peggy becomes a teaching assistant where

her youngest child went to elementary
school.

At a salary of less than $25 ,000 a
year, She does it simply for the

satisfaction it gives her.

She loved it. She loved it.

And she was very good at it.

And I think they were very fond of her.

But on this night, just after 11 p .m.
on a dark, lonely highway, just five

miles from home,

Perez Olivo says he and Peggy are run
off the road by an unknown vehicle.

Bar came up, got in front of me.

I didn't want to hit it because I'd been
drinking.

According to Perez Olivo, a man with a
gun approaches and jumps in his back

seat. Perez Olivo tries to disarm him.

In the ensuing struggle, Perez Olivo
says three shots go off.

One strikes Perez Olivo in the abdomen,
and the assailant flees the scene.

Perez Olivo turns his attention to his
wife Peggy.

I remember seeing that Peggy had her
head by the window.

Peggy, Peggy. And there was no answer,
so I figured something was wrong.

It appears that a stray bullet has hit
Peggy in the back of the head.

As Perez Olivo races for the hospital,
he calls 911.

But not long after he arrived, the
police raised some questions about what

Olivo says happens that night.

Was this a random act of violence or an
execution?

Perez Olivo's life begins to turn toward
this dark road more than a decade

earlier.

where this seemingly run -down building
in the Bronx actually houses a lucrative

criminal defense practice.

According to author Kevin McMurray, it
affords Carlos Perez Olivo and his wife

Peggy an enviable lifestyle.

They loved going to the city, see
movies, have dinner.

They traveled back and forth to Puerto
Rico.

He eventually moved up to Chappaqua.

It's a very affluent community in
Westchester County.

There's just one problem.

Many clients claim he's a crook.

Belzabel Fernandez is a second
-generation American living and working

Island.

In the mid-'90s, she hears some bad news
about her younger brother, Omar

Sanabia. He was just, you know, a young
kid hanging out with the wrong crowd.

And the way that it is, you know, it
ended up in the wrong direction.

Omar has been arrested for assault.

As he sits in jail, Belcibel and her
mother scramble to find an attorney when

they find Carlos Perez Olivo.

Frightened, overwhelmed, and new to
hiring lawyers, the Sanabria family

for reassurance.

And Perez Olivo immediately provides it.

He told us, and my parents, listen, I
understand, you know, what you're going

through, and, you know, I'm a father as
well.

Desperate to protect Omar as best they
can, Delcibel's parents sell their home

in the Dominican Republic to pay his
legal bills, including $15 ,000 in bail

money.

Omar eventually pleads guilty to assault
and is sentenced to six years maximum

in prison.

Perez Olivo makes the Sanabias an offer.

He tells them he can get their $15 ,000
of bail money returned to them more

quickly because of his connections.

Since they still owe him $5 ,000, he
signs a note saying he'll take that

out of the $15 ,000 of bail money.

and return $10 ,000 to them.

I signed over the paperwork for him to
take his balance, and he said, I'll

contact you within the week.

But at the end of the week, and the next
week, and the next, there's still no

word.

After months go by without being able to
contact Perez or Lee Boom, the Sanabria

family think their money is lost.

I'm like, we got stiffed.

We got robbed.

They aren't the only ones to think so.

Andrew Bratton is the retired Deputy
Chief Counsel for the New York Supreme

Court Disciplinary Committee, where
angry clients can go to get grievances

their lawyers resolved.

Bratton says that he hears more than a
dozen similar complaints from clients

about Perez Olivo.

I think what happened here is that Mr.
Perez Olivo had a large...

mill type of practice.

And his mill keeps churning out clients.

In a place like New York City, which
processes more than a thousand criminal

arraignments per day,

Perez Olivo apparently believes in
quantity over quality.

What he did, they stopped caring.

He had so many clients. It was such a
business. Life was good. And these

just became a cash register for him.

When American greed returns,

Carlos Perez Olivo continues mining
clients for money.

But can he keep taking it without
consequence?

These people you don't walk over. This
was Mr.

Perez Olivo's downfall because he
assumed he can just walk over everybody.

By 1996, some of criminal defense
attorney Carlos Perez Olivo's clients

accusing him of not doing the work he's
been hired to perform.

But when they try to get their money
back, they can't find him.

I kept calling and kept calling and kept
calling. Nobody would ever return their

call to me.

So I went over there and he wasn't
there.

Nobody was there. He's gone.

Perez Olivo has uprooted his family from
the plush New York suburbs and taken

them to his hometown of San Juan, Puerto
Rico.

Beau Vasquiteus is a longtime friend of
Perez Olivo dating back to the 70s, when

Vasquiteus was a court reporter in the
Puerto Rico federal court, and Perez

Olivo was a young attorney just starting
out.

He had a gift, his voice, his diction.

It got to the point, whenever Carlos was
in trial, people couldn't fit into the

courtroom. They wanted to see him in
action, because he would put on a show.

was an actor.

And as his legend grew, so did his
clientele.

Whenever he would go to visit his
clients in prison, they told him that

other inmates that wanted to use him as
an attorney, and they wanted to dispense

with the services of their prior
attorney.

It's a level of success he'll need to
repeat upon his return to the island 15

years later.

Vazcatea says that Perez Olivo's wife
Peggy has become accustomed to a certain

lifestyle.

She had to have a certain type of a car,
and she needed to have a cleaning

woman, and she had to have a house of
certain dimensions.

Both my wife and I kind of believed that
you never knew when life was going to

end. So we lived as well as we could.

It means the pressure is on Perez Olivo.

He felt that he had to get a lot of
cases, he had to get a lot of clients,

had to charge him higher fees, and he
had to deliver.

From what Vasquez remembers of the Perez
Olivo of the 70s, he thinks delivering

will be no problem for the mesmerizing
courtroom performer.

But Vasquez soon discovers that the
Carlos Perez Olivo who left the island

than 15 years ago

is not the same man who has returned.

Some time goes by and I was approached
by many of these attorneys and told me

how disappointed they were in Carl and
how ineffective he was and things that

was doing.

He was falling asleep in court.

And his clients are outraged.

He was taking the money and not doing
the work that he was supposed to have

doing.

One client claims to have given Perez
Olivo $30 ,000 to work on an appeal,

Perez Olivo never files.

He simply takes the money and breaks off
all contact.

And that client isn't alone.

Three more clients issue complaints, and
the Puerto Rico federal court decides

to step in.

There was a hearing held before a
magistrate.

And they cited several cases, and they
recommended to the judge that he be

disbarred.

Instead of answering the charges,

Pérez Olivo agrees to surrender his
license in Puerto Rico and returns his

practice to New York.

But a change of scene doesn't mean a
change of method.

Some clients in New York say he's just
back to his old tricks.

What do I think?

He is a lowlife.

Angie Stone is a widow living in
Westchester County in New York.

In 2001, her housekeeper, Tranquilina
Leguizamon Diaz, an illegal immigrant

Paraguay, is arrested in a sting
operation for trying to buy a visa

from an undercover agent.

Diaz is eventually convicted of bribing
a public official.

Before she is sentenced...

She decides to change lawyers.

She heard of somebody called Carlos
Perez Olivo.

I wasn't altogether comfortable with
that, but I called Mr. Olivo.

Diaz and her husband gather their entire
life savings, $13 ,000, to retain Perez

Olivo. But it's not enough.

Stone agrees to put in another $7 ,500
herself.

Eileen Shapiro is the attorney who will
later take over Diaz's case.

He didn't do anything.

He didn't say anything. He didn't do
anything. He didn't put in a sentencing

memorandum. It was like he wasn't even
present.

He does bother to file a notice of
appeal after sentencing, but then lets

deadline to file the appeal itself pass,
and the court dismisses it.

It was repellent to me that somebody
would do something like this to somebody

that was essentially a helpless person.

For Shapiro, there's only one
explanation.

He didn't want to write a brief.

It's not an easy thing to do. He took
his money, he spent his money, and now

it's time to write his brief.

And he doesn't want to do it.

The most common complaint against him
was he neglected my case or he didn't do

enough.

Andrew Bratton begins gathering
complaints about Perez Olivo in the

As part of his role as Deputy Chief
Counsel for the New York Supreme Court

Disciplinary Committee, he says all the
complainants have one thing in common.

Every criminal defendant is faced with
deprivation of civil liberty. So by

definition, every criminal defendant is
scared.

And in these cases, not only is the
criminal defendant scared and

but the families of the criminal
defendants are scared and vulnerable.

While Tranquilina Leguizamondias is
sitting frightened in jail, waiting for

kind of news or progress, worrying about
the welfare of her two young children,

Carlos Perez Olivo does nothing.

Well, not nothing.

We traveled a lot.

I had a lot of cars.

I like cars.

We'd shop. We'd eat at good restaurants.

We believed that you couldn't take it
with you, so you might as well enjoy.

when you could.

And as it turns out, I think it was not
such a bad philosophy.

Not if you can get away with it.

To Perez Olivo, $10 ,000 or $20 ,000
means a family vacation in Europe.

But to some of his clients, it's their
entire life savings.

And one of those clients catches up to
him.

The Sanabria family had given up on ever
recovering the $10 ,000 that Perez

Olivo had walked away with five years
earlier.

But suddenly, fate intervenes. My older
brother was at the courthouse and kind

of remembered his face.

And he had never met my older brother.

So he went up to him and said, oh, you
know, are you a lawyer? And he said,

yeah. So he gave him the business card.

After nearly five years of searching,
Belcibel Fernandez has found the man who

took her parents' $10 ,000 and files a
complaint with the New York Supreme

Disciplinary Committee.

When American Greed returns,

living office clients' backs is about to
catch up to Carlos Perez Olivo.

Will he be able to get by without them?

His credit card debt was mounting. He
had no apparent source of income.

Or will it lead him down a path where
there's no turning back?

Are you driving a car right now?

By 2003, the New York State Supreme
Court Disciplinary Committee is getting

and more complaints about criminal
defense attorney Carlos Perez Olivo.

Some clients say he's just a con man,
taking their money but not doing any of

the work.

We had received during that period in
the early 2000s roughly at least 15 if

20 complaints.

That stands out. When you get to the
level of 10, 15, 20 complaints.

you would be considered what we used to
call in our office one of our regulars.

The disciplinary committee alerts Perez
Olivo to the complaints.

But he doesn't seem too concerned.

You're supposed to answer the complaints
right away. Well, I didn't answer them.

Sometimes I'd wait, and there was three
or four of them. Three or four months, I

got four or five letters.

So they weren't very happy with me.

And the complaints keep piling up.

In June 2003, Nilsa DiGiacomo gives
Perez Olivo $10 ,000 to represent

her nephew, Miguel Delgado, who has been
incarcerated for conspiracy to

distribute narcotics.

I was scared to death. I was thinking
about his kids, about him going to jail,

all the horrible things that I heard
happened in jail.

But less than five weeks later, a
federal judge kicks Perez Olivo off the

He could represent me for real. He said
that he could.

Unbeknownst to Delgado, Perez Olivo is
already representing a co -conspirator

his, Juan Cruz, a clear conflict of
interest.

Perez Olivo claimed that Delgado knew
there was a possibility of a conflict.

in fact... Part of the $10 ,000 fee was
to research whether or not Perez Olivo

would be able to take his case.

I mean, it makes no sense.

There's so many lawyers out there. Why
would you pay one lawyer $10 ,000 to

out if he could be a lawyer?

It makes no sense.

When Perez Olivo refuses to return the
money, DiGiacomo and Delgado join the

group of complainants with the
disciplinary committee.

The vast majority of attorneys out there
gingerly treat these people because

they understand that these people are
over a barrel. There are a small segment

of attorneys who will use this as an
opportunity to enrich themselves, and

is what Mr. Perez Oliva did.

Andrew Bratton begins disbarment
proceedings in the summer of 2005.

For many of Perez Oliva's clients, it's
their first chance to confront him.

I wanted to jump over the desk and just
punch him in the face.

These people you don't walk over.

In these particular cases, this was Mr.

Perez Oliva's downfall because he
assumed he can just walk over everybody.

It's also the first time they get to
hear Perez Oliva's response to their

charges. I earned the money.

I have no doubt I did.

Abraham Lincoln, the president we all
quote a lot.

Basically said an attorney's stock and
trade is time. Because I don't sell

potatoes, okay? I sell my time.

His clients see it quite differently.

I don't know where he gets that from.

He must be dreaming.

Keep him to anything.

Perez Olivo's closing argument, however,
reveals a man that apparently believes

he's untouchable.

During the final summation, their
argument was pretty much, well, who are

going to believe?

Are you going to believe this
practitioner who's been practicing for

or are you going to believe criminal
defendants and their families?

Who are you going to believe?

In this case, the court makes perfectly
clear who it believes, the clients, and

Perez Olivo is disbarred.

I feel that justice was done.

That he earned.

But surprisingly, the decision delights
him as well.

I was dancing almost because I felt like
a big weight had been taken off my

shoulders. I didn't want to do this
anymore.

He claims he's as happy as ever.

I had a lot of fun.

I met a person who, there is such a
thing as a soulmate. She was.

I had my children. I had everything I
wanted, yeah.

Perez Olivo says his disbarment has cost
him nothing.

He has plenty of opportunities outside
of law to make money, which is good,

because he's going to need it.

He has a lot of expenses to keep up
with.

Most noteworthy, the $5 ,500 a month
rent he has to pay for his new house in

Chappaqua, the one three doors down from
the most famous power couple in the

world.

Bill and Hillary Clinton.

For Perez Olivo to keep his head above
water, he's going to have to get

creative.

Dangerously so.

When American Greed returns,

Carlos Perez Olivo finds himself
fighting for his life in more ways than

The woman and her husband, a disgraced
lawyer, were attacked Saturday night.

Oh, I knew I wasn't going to be a
suspect. I'm telling you, I was a

attorney for 30 years. Of course they're
going to look at me. They'd be stupid

not to look at me.

On November 18, 2006,

recently disbarred attorney Carlos Perez
Olivo and his wife Peggy...

are enjoying a date night in Manhattan.

By around 10 p .m., they are on their
way home.

As Peggy sleeps,

Perez Olivo decides to fill the car with
gas.

That decision will take them up Route
100, a twisting highway through

dark woods. There are no lights and
little traffic.

On the way to the station, tragedy
strikes.

To get to the gas station, there's a
stretch of road that's basically

Car came up, cut in front of me.

He says he comes to a complete stop,
barely avoiding a collision with the car

front of him.

Next thing I knew, the guy opened the
back door.

He got out.

He had a gun.

I mean, I remember coming to the side.

He opened the door and got in the back
seat.

According to Perez Olivo, the man
doesn't say a word, but holds the gun up

Perez Olivo believes he can grab it.

What I did was I grabbed the gun. I was
trying to twist it to take it away from

him. And we were struggling.

Gunshots.

Gun fired.

I believe it was three shots.

One of the shots hits Perez Olivo in the
side, allowing his assailant to escape.

Perez Olivo turns his attention to his
wife in the front seat.

I remember seeing that Peggy had her
head by the window.

Peggy, Peggy. And there was no answer,
so I figured something was wrong.

What happened to you?

He ran me off the road.

He ran you off the road?

Yeah. He ran me back. He ran me back to
you.

Are you driving a car right now?

Yes, I'm driving. I'm driving to my
hospital.

I'm driving to my hospital.

I think he's with me.

I think he's with me.

Okay. Where did he get shot?

Okay, okay. Okay, take it easy. She got
shot in there?

Within 15 minutes, they are at Northern
Westchester Hospital.

Perez Olivo is shot through the side,
but the injury is not life -threatening.

Peggy, however, is much worse.

She has been shot in the back of the
head and is completely non -responsive.

I was telling him, forget about me.

Go take care of my wife. Forget about
me.

They sedated me a bit and took my
clothes off.

Clean me up and... I never saw my wife
again.

Before dawn, Peggy succumbs.

The assault has become a homicide.

And the story makes headlines all across
New York.

Rebecca Baker covers courts and crime
for the Westchester newspaper, The

News.

It was a huge story right from the
beginning.

The big news typically in that section
of the county is when a BMW gets dinged.

And public comments by the police just
add fuel to the fire.

The story was unusual, and that's the
way we looked at it.

He had said, have you ruled him out as a
suspect?

And they said, we haven't ruled anybody
out.

And that was really the first clue that
he was being looked at as having some

kind of involvement in Peggy's death.

In the meantime, Perez Olivo continues
to cooperate with police.

And he has his own possible theory about
what happened that night.

The first thing out of the police mouth
was, have you ever been threatened? Do

you have any problems? Yeah, I've had
death threats.

One of the names that I initially gave
him was Elio Cruz.

Perez Olivo represented Elio Cruz in a
murder trial in 2005.

Like many of Perez Olivo's clients, Cruz
is left with a bitter taste in his

mouth.

He basically botched the defense.

He was in the middle of his closing
arguments, and he said he had forgotten

rest of his statement.

Perez Olivo claims this is a distortion
of the truth.

In the closing argument, I said to the
jury, as I always would say a lot of

times, look, I think he's not guilty
because of this, this, this, this.

There may be things that I didn't catch
or that I'm forgetting now.

If forgetfulness is his strategy, it
doesn't work.

When the verdict comes back guilty, Elio
Cruz is outraged.

And according to Perez Olivo, Cruz let
him know it.

Basically, I believe the threats were
that his life was ruined and he was

to ruin my life.

Could that include murder?

On American Greed Return, has Perez
Olivo's cavalier lawyering led to his

death?

Or did the police have another idea?

Their narrative of this whole ordeal was
that this was a murder for money.

For more information on Carlos Perez
Olivo, visit AmericanGreed .CNBC .com.

We'll be right back.

In Westchester County, New York,
investigators from the Newcastle Police

Department continue questioning
disbarred attorney Carlos Perez Olivo.

about the 2006 shooting death of his
wife, Peggy.

Perez Olivo continues to present the
possibility that an ex -client

the roadside ambush that killed his
wife, but police apparently don't think

was a hit gone bad.

In November of 2007, reporter Rebecca
Baker is alerted to two civil court

filings that suggest what the police
might be thinking.

Two life insurance companies stopped
payment on Peggy Perez Olivo's death

because Carla still hadn't been ruled
out as a suspect.

On December 20, 2007, Perez Olivo is
indicted for the murder of his wife.

Once the papers were handed up with the
indictment, it really ripped open the

whole case and showed what the police
had been working on all these months.

The prosecution will show that Peggy had
nearly $900 ,000 of life insurance at

the time of her death, an amount that
had increased by more than 50 % in the

previous 18 months, with Perez Olivo
named as the primary beneficiary.

And it appears that Perez Olivo could
use it.

Prosecution documents cite that he has
less than $200 in his three bank

at the time of her death.

And furthermore, Perez Olivo had been
carrying on a 10 -year affair with a

he had met in Puerto Rico.

In fact, he sent her flowers just two
days before the murder.

The whole alternate story that had
nothing to do with the hitman, that had

nothing to do with an ambush, all of a
sudden came out. The whole game had

changed. Yeah, I'm sure we had it.

Perez Olivo hires attorney Christopher
McClure to defend him.

To McClure, the affair is simply a cheap
distraction.

They had no direct evidence linking him
to the murder of his wife.

So what they had to do is they had to
show or try and show a jury that he

a nice guy.

You shouldn't believe him.

He's a disbarred attorney.

He cheats on his wife. Based upon those
things, he killed his wife.

The mere fact that I did send a flower
more or less on that day shows that the

last thing from my mind was to do
anything wrong.

Because, I mean, I think you can tell
I'm a fairly intelligent person.

I'm not an idiot.

And only an idiot would do something
like that. All right?

For prosecutors, the affair simply shows
Perez Olivo's ability to put his own

concerns ahead of those of his family.

The mistress was a side attraction.

Their narrative of this whole ordeal was
that this was a murder for money.

When the trial begins on September 12,
2008, the Westchester County District

Attorney's Office, led by Janet DiFiori,
lays out its case.

Carlos Perez Olivo, prosecutors say.

takes the long way home not because he
needs to get gas, but because it's a

and desolate road, the perfect place to
commit a murder.

We believe that Mrs.

Perez Olivo was asleep in the front
passenger seat of the car when her

slipped in the back seat behind her and
placed the muzzle of the gun under the

headrest and fired one shot, the one
shot, the fatal shot that killed her.

As a sort of alibi, prosecutors say,
Perez Olivo shoots himself in the side,

then calls 911 in a frantic tone that
only mimics despair.

I believe that it's very likely he went
over this again and again in his head,

and he rehearsed every step of this
plan, including what he would report to

police in the 911 call.

And they say he did it all for the
money.

Mr. Perez Olivo was having financial
difficulties.

His bank accounts, the balances were
dwindling. His credit card debt was

mounting.

The defense then offers their response
in their opening remarks.

Perez Olivo doesn't take an odd route
home.

The gas station he was driving to was
one he uses all the time. They have the

credit card statements to prove it.

There is no such thing, they say, as a
superficial gunshot wound to the

There are much safer places to shoot
oneself if the desire is an alibi.

And he is not, in fact, broke.

He has cash stashed outside the country
and continual access to more.

And, of course, there's the 911 call.

Okay, take it easy. She got shot, you
said?

I tried to punch the guy, and I was
stupid.

12 and a half minutes.

That's what they're saying. He faked it
for 12 and a half minutes.

Given the ending now, or whatever the
award would have been, to sustain that

level for a full 12 and a half minutes
while on the phone, I think it would

been hard to fake.

Lastly, they offer their most compelling
evidence that Perez Olivo could not be

guilty of this crime.

To a person, including siblings, which
to a Peggy sibling, testified.

And the children testified that Carlos
was in love with Peggy.

They all said that they were the perfect
couple.

No one who knew them believed that
Carlos could ever murder her.

When American Greed returns, Carlos
Perez Olivo tries to overcome the sins

his past.

Will it be enough to convince a jury?

I don't know where you guys are from or
anybody else, but affairs is common

everywhere.

If people were to kill their wives
because they're having an affair,

few wives around in the world today.

In September 2008, Carlos Perez Olivo
stands trial for the murder of his wife

Peggy. A murder the prosecution says
Perez Olivo committed for the nearly

,000 of life insurance he stands to
gain.

Perez Olivo says that his wife was
killed by a stray bullet when he fought

an attacker in the backseat of his car.

But at trial, the prosecution presents a
vast array of circumstantial evidence

that disputes his story.

Evidence, for example, that Peggy was
shot from extremely close range,

style, and that she was facing forward
in her seat, meaning that she would have

had to stay asleep during the struggle
Perez Olivo claims happened in the back.

They also present the hospital's
surveillance video showing Perez Olivo's

arrival.

You could see that here is a man who was
perfectly turned out.

He had a dress shirt that was neatly
tucked into his pants. He did not have

look of a man who was just in a life and
death struggle.

But the prosecution's case eventually
comes back to the money.

Perez Olivo apparently has no problem
taking $10 ,000 or $20 ,000 from poor,

desperate clients.

Why wouldn't he, prosecutors ask, take
nearly $900 ,000 when the opportunity

arises?

He was out of work. He couldn't practice
law anymore.

He had no way to make an income.

And the only way that he saw out of it
was these life insurance policies that

belonged to his wife.

And not only had the life insurance on
Peggy increased by more than $300 ,000

the year and a half before she died,
just three months before her death,

that's a $500 ,000 policy on himself,
laps for non -payment.

It's very unusual for the person who
earns the more moderate income to be so

highly insured. And the person who is
ostensibly the major breadwinner in the

family is so, by all accounts,
underinsured.

Paris Olivo claims that he never knew
how much insurance his wife had.

And as for allowing his to lapse, it's
just a simple case of mismanagement.

We were careless, both of us, with
paperwork.

If they looked at the records, which I'm
sure they did, it wasn't the first time

I had let it lapse.

What's more, Perez Olivo claims there's
ample evidence of his financial solvency

in the year between his wife's murder
and his arrest.

A time during which he never got a dime
from the life insurance policies.

That house was rented. That was $5 ,500
a month.

It got paid.

I had bought a new car for my daughter
the year before when she started

The insurance got paid. The heating
bills got paid.

I mean, you know, if you're supposed to
have economic problems, you're supposed

to be going crazy, you're going to kill
your wife of 30 years.

You'd think there'd be something to back
that up, but there isn't.

The source of all this money, according
to Perez Olivo, is some clients of his

from South America, who don't always
operate on the right side of the law.

I got them all on criminal charges.

And they're concerned about coming to
the United States or leaving their

countries because they're concerned that
there's a sealed indictment somewhere.

I had never wanted to work with them
because I knew that part of the proceeds

the things that they may be getting were
from other things.

And I didn't want to be connected to
that. But once I had to find a way to

a living.

Perez Olivo says he doesn't do anything
illegal.

But at trial, while claiming that he has
a source of income, the defense never

offers evidence as to what it is.

Keep in mind, it's not our burden to
prove anything.

It's the prosecution's burden to prove
that that was the motive. It's not our

job to disprove it. In reality, the
reason the details aren't shared may be

it would require Perez Olivo to take the
stand, and the defense is afraid of

what might be revealed.

All the jury knew at that point in time
was that he had been disbarred. They

didn't know any of the reasons why.

And if...

Carlos testified they'd know all the
reasons.

So it would add that now he's disbarred,
he cheats on his wife, and he cheats

his clients.

Perez Olivo's shady past has come back
to haunt him.

The man who once dazzled juries with his
speech now sits silent in his own

murder trial.

The case goes to jury Friday, October 3,
2008.

By midday Saturday, they return with a
verdict.

Carlos Perez Olivo is found guilty of
murder.

Sentencing is eight weeks later.

His children, utterly convinced of their
father's innocence, pass a letter on to

Christopher McClure to read to the judge
on their behalf.

My family has been destroyed.

We have no mother. Now we have no
father.

It is impossible to describe the anguish
each of us deals with on a daily basis.

Look, as a professional, as a mother, of
course my heart breaks for those

children. I can't imagine what it's like
to have lost your mother and to have a

jury tell you that you lost your mother
at the hands of your father.

Nevertheless, District Attorney Janet
DiFiori believes that Perez Olivo should

serve the maximum time allowed by law.

And Judge Barbara Zambelli agrees,
calling Perez Olivo a master of deceit.

She hands down the maximum sentence.

25 years to life.

Perez Olivo is currently working on his
appeal.

And he is confident that his conviction
will be overturned.

But for now, he sits waiting in the
Attica Correctional Facility in New

Marking time.

Yeah.

Nothing that can, nobody can do anything
to me now that can hurt me because it's

already been, nothing will compare. I
survived that. I almost didn't, but I

have. If I got sentenced to seven, eight
years, why can't you get sentenced?

To some former clients, he is exactly
where he belongs.

After all, Perez Olivo's path from
disbarment to prison began with them

in jail, waiting for him.

We were thinking about our families.

He didn't feel sorry for me.

He didn't feel sorry for none of us.

Did you want me to feel sorry for him?

No.

For his family?

No.

Not at all.

After we went through?

No.

Happened to him because he was greedy.

The market's hitting new benchmarks!

Is it a bubble? Stay tuned to find out.
Plus, set up with the price of the pop.

Me too.

I'm finding profits in the pipelines
that move the quick stuff around.

It's the stock that helps you fight
back. Don't move. Mad money's coming up

next.

Business intelligence.

CNBC.