FBI arrests man after he appeared on CNBC show

by
David Kaup

The Federal Bureau of Investigation arrested a man in Las Vegas last week shortly after he was the central figure in an episode of CNBC’s “American Greed: The Fugitives,” a show that focuses on white-collar crime.

Shortly after the CNBC story aired, agents investigating the case of David Kaup received information that led them to a residence in Las Vegas where Kaup had been residing, according to this FBI news release.

Kaup carried out three separate fraud schemes that caused victims to lose millions of dollars. Kaup admitted in his plea agreement that over a period of approximately five years, he defrauded more than 50 families out of more than $11 million. Many of these victims were working class families who sought Kaup’s assistance to refinance their homes.

Kaup had failed to show up for his December 2012 sentencing.

Chuck Schaeffer, the executive producer for CNBC’s “American Greed: The Fugitives,” identifies the stories for the show and an out-of-house production company, Kurtis Productions, produces the show exclusively for CNBC.

The “American Greed” episode in which Kaup appeared will air again on Thursday, according to a CNBC spokeswoman.