The Corpus Callosum

Darwin Award Candidate

i-7b56343c3239857c3c3276e0469c137b-image6616208x-thumb-150x112-51864.jpgClearly, this man is a candidate for the href="http://www.darwinawards.com/">Darwin Award.  K. Wayne
McLeod has been charged — posthumously — with running a Ponzi scheme
that victimized an estimated 260 law enforcement agents.

He deliberately solicited hundreds of people, all of whom have guns,
all of whom know how to use their guns, and all of whom have access to
information resources that can be used to locate other people.  He
then did something that was guaranteed to piss every single one of them
off. 

The outcome is not particularly surprising. 

href="http://www.cbsnews.com/8301-31727_162-20008872-10391695.html?tag=cbsnewsSectionsArea.0">SEC:
Slain CEO Was Running Ponzi Scheme

The U.S. Securities and Exchange Commission today charged the estate of
Florida investment firm executive K. Wayne McLeod with running a Ponzi
scheme that victimized an estimated 260 law enforcement agents.

McLeod reportedly raised at least $34 million since 1988 by luring
active and retired government employees to invest in the “FEBG Bond
Fund” with false promises of annual returns between eight and 10
percent. McLeod operated the fund through the Federal Employee Benefits
Group, Inc.

According to the SEC’s complaint, McLeod wrote to investors, “With all
of the Ponzi Scams going on around the world I wanted to insure you
that this account is 100% secured by US Gov’t Securities and the
principal is never touched until liquidated.”

The SEC alleges that the “FEBG Bond Fund” did not exist…

McLeod was found shot to death in his car in Jacksonville, Fla. Tuesday
morning, four days after he sent an e-mail that notified his clients
that he was closing the fund.

Comments

  1. #1 Name Withheld
    June 27, 2010

    So is the assumption that he was killed by one (or more) of the cops he ripped off?

  2. #2 Joseph j7uy5
    June 27, 2010

    Yes. Hasn’t been proved, but the conclusion at least seems compelling.

  3. #3 Vasha
    June 27, 2010

    Well, I think suicide is also believable. It’s getting harder and harder to escape to somewhere without extradition nowadays. Pyramid scheme operators seem to convince themselves that they can keep all the balls in the air until they die of natural causes or something, then are at a loss when the whole thing collapses.

  4. #4 Dr X
    June 27, 2010

    The audacity!

  5. #5 orjinal altın çilek
    April 16, 2011

    I love scien I don’t see any parallax scrolling. Hmm, what’s wrong?

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