Posted on 06/23/2010 4:27:35 PM PDT by dynachrome
The offices of a local investment firm that catered to federal employees remained empty this week after an unusual e-mail from the company’s chief executive officer was sent to some of the firm's clients.
In the e-mail dated June 18, K. Wayne McLeod, who served as CEO of the Federal Employee Benefits Group, Inc., told clients he was terminating the “FEBG Fund,” a fund that had been marketed to retired federal law enforcement officers. McLeod said interest payments for the month of June had “been suspended” and “nothing further [would] be sent.” In the e-mail, he informed clients that he was praying that they would forgive him at some point in the future.
The Jacksonville Sheriff's Office confirmed Wednesday afternoon that McLeod was found dead of a gunshot wound in a vehicle located in a park on Mandarin Road on Tuesday. The case remains under investigation.
A spokesman with the Securities and Exchange Commission (SEC) said there was no fund registered under the name “FEBG Fund” and declined to say whether there was an ongoing investigation of McLeod.
(Excerpt) Read more at jacksonville.com ...
Madoff-lite! But this doesn’t sound like suicide. There was no mention of a gun inside the car.
Arkancide!!
They cap this bad boy ass fo sho!
A full mag of .50 AE is a reliable method for suicide, yep.
I suspect suicide. Sad, all around.
You'd think retired federal law enforcement agents might be a tad more attuned to the heightened possibility of fraud where large sums of money are involved.
But, they're apparently no brighter than your average government schlub. Bend over, public sector, here comes the second leg down and it's your turn now.
Another Ponzicide?
I know a few of them from the Boca Raton area who were up to their heads in corrupt practices, mostly mortgages, but a few in securities. Quite a few suicides happened in the last few years around here. It was mostly the small fish. The big fish are too arrogant to believe that they will truly fall. The worst one I know is sitting in federal lockup pending numerous charges and probably twenty years. He still begs for sympathy for his wife and also keeps up with his gomatta via texts and emails.
It makes me wonder if there were others higher up than this guy.
Might be. Locally here in st. Augustine a company called
Lydia Cladek Inc shut down because it was a ponzi scheme. LCI took high risk auto loans & charged 29% & her investors got 18% on their money. All was good as long as there were no defalts & there was always new money coming in go buy loans.
Well , $65 mil later, she’s in bancruptcy & a whole lot lost money.
Funny tho, it was big news for about 3 weeks, then nothing. And she’s still not arrested.
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