|“||It's like a mutual fund, but instead of stocks you invest in, in death.||”|
An obvious play on words of the Glengarry Glen Ross theme, the scam known as Glengarry Glen Death is employed in "The Snow Job".
The center of the idea is that people die, and some unlucky people die quickly. Some of those people have high paying insurance policies. The idea is for Person B to buy the insurance policy of Person A, so that Person A can enjoy the fruits of their unfulfilled insurance policy. And for pennies on the the dollar Person B collects profit from the Life Insurance payout.
This is similar to how reverse mortgages work, however these are legal at this point.
In order to break the mark in "The Snow Job", The Leverage Team presents a carrot in the form of the Glengarry Glen Death scheme. Nate uses this con to appeal to Dennis Retzing's lack of ethics. But once he does, he is hooked.
- The Mark - Dennis Retzing
- The Face - Sophie Devereaux
- The Inside Man - Nathan Ford (as himself)
- The Fixer - Eliot Spencer and Alec Hardison
- The Hook - Parker as the Brain Tumor patient.
When Dennis goes all in, thinking he is going to make a ton of money, his father Henry Retzing believes this is a double-cross. Henry takes measures into his own hands and puts Randy Retzing in sole control over Retzing and Sons, to preserve the money. Given this opportunity, Leverage Consulting & Associates is in position to take control of the whole organization.
- This con is based on the theater production of Glengarry Glen Ross, and in turn the famous film of the same name, where the con is around real estate.
- In current news media, the term Glengarry Glen Ross is now used to denote a scam by investment bankers and real estate agencies, after the housing bubble burst.