Confessions of a Scammer

The man who conned people out of millions of dollars in a gold scam reveals all.
3:31 | 10/27/11

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Transcript for Confessions of a Scammer
Welcome back I'm Brian Ross in New York. As the price of gold has skyrocketed over the past five years so too -- the number of high pressure sales people. Luring thousands of consumers into investing in precious metals. But an ABC news investigation has revealed that many of these investments are really shady schemes -- to steal not multiply your money. A federal judge next month will sentence one of those salesman a scam artist who authorities say took advantage of a booming gold market. Connie more than 14100. People out of tens of millions of dollars. But before he goes to prison. The mastermind of the -- sat down with us to reveal how it worked and what to do when someone like him is on the other end of the -- The most promising victims of the gold -- were spotted through Google Earth satellite images. The -- matched -- leads to addresses to find victims -- the biggest tones and therefore the most money to invest in gold or silver. -- brokers place in order to purchase ten ounces of gold. It -- the gold. But in reality there was no -- despite the legitimate looking transaction papers from the global bully on exchange completely -- -- -- The global bullion exchange was the invention of Jamie -- it. Took us back to the now empty telephone boiler room in Florida where his telemarketers worked their -- Mostly upper middle class business -- Who can happen he says let their egos get the best of so you weren't targeting little old ladies. No more quite frankly it will ladies -- -- a lot more student and a lot more skeptical. About making investments with people that they don't know the pitch worked off the falling stock market. And the rising price of gold -- Anthony recalled his lines for ABC news. -- you -- and indicated there was an answer for everything including I don't have the money. Sure you do. You have 401K. You have a stock portfolio. -- have dead dogs that are not performing. The man who lived in this house in Hialeah Florida Dave Baum -- got lots of those call I did and giving. Considerable amount of money. Because I thought I thought if I invested more I would get the money back. He never will losing 75000. Dollars nor will the other investors. At the time -- scheme collapsed and this -- was shut down. The money was long gone. I think about it every day these people have to live. Pain back -- So what are it's going to hurt for the rest of the hopefully this morning wary -- can stop it from happening to anybody else. Anthony faces 25 years in prison and hopes that what he told us -- -- the judge he's truly trying to make up for what he did. But not all of our viewers are sympathetic. One person tweeted me saying hope judge doesn't buy -- cameras crocodile tears sincerity from a plus scammer. Judge will be next victim of the con artist. You can get up to the minute breaking news headlines by following me and the ABC news investigative team. -- FaceBook and Twitter tweeting your comments and questions and will include sun and that's fiction. Coming up a billion dollar bet -- taxpayer money but where did end up we follow them money --

This transcript has been automatically generated and may not be 100% accurate.

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