Conspiracy Theories

Podbit · Conspiracy Theories

The Press Your Luck Scandal

Explore episode Jun 10, 2026
True Crime
From Game Show Winner to Pioneer of Internet Fraud

The Press Your Luck Scandal · Jun 10, 2026 True Crime

Larson's post-win life was a spiral of increasingly bold fraud. He ran a multi-level marketing shell company called Pleasure Time Incorporated with bogus Native American lottery investments that allegedly defrauded 20,000 people of $3 million. When the SEC finally caught up with the scheme in 1995, it was the agency's first ever serious internet fraud case.

Where this was said

The Money Disappears: The Radio Contest, the Robbery, and the End of the Marriage

At 39:48 · chapter starts 37:50

Whatever post-win serenity Michael Larson might have enjoyed was short-lived. A Dayton, Ohio radio station was running a serial-number contest: if the serial number on your dollar bill matched the one the DJ read on air, you won $30,000. Larson's response was characteristic: go big or don't bother. He withdrew $100,000 in singles — requiring five separate bank visits to accumulate that many small bills — and he and Teresa spent weeks sifting through the cash looking for the magic serial number. They didn't find it. Eventually they returned half to the bank. The remaining $50,000 in loose bills was still scattered around the house when, one night, they left for a Christmas party. When they returned, the back door had been kicked in and the money was gone. The robbery was never solved. Larson's response to the theft was revealing: he became deeply paranoid, accusing Teresa of orchestrating or enabling the burglary. He began standing at the foot of the bed at night, staring at her while she slept. Teresa, fearing for her safety, left him. He was, she later reflected, out of her life forever.

True Crime
The $100,000 in Singles: A Robbery, Paranoia, and the End of a Marriage

The Press Your Luck Scandal · Jun 10, 2026 True Crime

After his win, Larson withdrew $100,000 in $1 bills from five banks to hunt for a winning radio serial number. It didn't work. While he and Teresa were at a Christmas party, burglars broke in and stole $50,000 in loose bills. The theft destroyed the marriage — Larson accused Teresa of stealing it, and she feared for her life.

Similar podbits

True Crime
Cocaine Inside a Boa Constrictor: The Wildlife-Drug Trade Overlap

#2536 - Eric Goode & Jeremy McBride · Aug 6, 2026 True Crime

The illegal wildlife trade and the drug trade aren't just parallel industries — they actively overlap. Smugglers force-fed cocaine to boa constrictors to evade customs, packed drugs beneath layers of live animals in crates with spitting cobras on top, and exploited the chronic under-resourcing of US Fish and Wildlife inspection teams.

True Crime
Anson Wong: The Global Kingpin of Reptile Smuggling

#2536 - Eric Goode & Jeremy McBride · Aug 6, 2026 True Crime

Anson Wong from Malaysia was the Pablo Escobar of the global reptile trade, supplying rare animals — including Komodo dragons — to buyers across the world. He was caught in a sting, extradited to the US, and served the longest wildlife crime sentence at the time. The animals seized from him went on to stock some of America's biggest zoos.