By Allan Lengel
For AOL News
WASHINGTON — FBI agents are supposed to unearth scams, not become victims of them. This time is different.
Up to 300 or so retired and current federal agents from the FBI and Drug Enforcement Administration and Immigration and Customs Enforcement (ICE), invested collectively tens of millions of dollars of retirement money in what has turned out to be a Ponzi scheme run by a Florida man who just committed suicide. The FBI and the Security Exchange Commission are investigating and trying recover funds.
“There’s definitely ones who have lost their life savings,” Ft. Lauderdale Attorney Michael Goldberg, who is representing victims, told AOL News.
The reaction of the agents? “Pretty much what you expect,” he said. “Shock and anger.”
Behind it all is a suspected con artist, a self-described retirement investment adviser Kenneth Wayne McLeod, 48, who for years became a trusted adviser to federal agents around the country, offering free financial projections for retirement and offering, in some cases, high-yield returns of 8 to 10 percent on certain investments, according to an SEC filing in the case.
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