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supposedly rare dragon jars, ancient pottery, found on a remote, volcanic island. the site was very interesting. they had maybe 20, 25 jars recovered by the time i got there. but they weren t what i expected. they were these kind of earthen clay, brown-type jars. they were reporter: pottery. yeah. they were like alien pots, is the best way i can describe them. reporter: the look of the jars wasn t the only surprising thing about them. they also turned out to be not ancient, but worthless. standefer claimed his contacts had cheated him. once again, karl returned home empty-handed. did it ruin your faith in this man? no, it didn t ruin my faith. but it made me a little more cautious. i began to realize he might be a poor manager of money. but then, so am i, obviously. reporter: by the end of 1994, karl says he spent almost $15,000 on his trips with

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