The Billionaire Boys Club
was the popular nickname for BBC, an investment and social club organized by Joseph Gamsky, also known as "Joe Hunt", in southern California
in 1983. The club recruited the sons of wealthy families from the Harvard School for Boys (now Harvard-Westlake School
) in the Los Angeles
area with the promise of quick success in business life.
The organization was run as a Ponzi scheme
, and money contributed by investors was spent on supporting lavish lifestyles for young members of the club. When funds ran short in 1984, Hunt and other club members turned to murder
, and at least two people were killed as Hunt tried to raise more money.
When authorities began investigating the murders, Dean Karny, the club's second-in-command and Hunt's best friend, turned state's evidence in return for immunity from prosecution. Hunt and club security director Jim Pittman were charged with murdering Ron Levin, a con artist
who had allegedly swindled the BBC out of over $4 million. Hunt, Pittman, club member Arben Dosti, and Reza Eslaminia were charged with murdering Hedayat... Read More