Ponzi scammer dupes law enforcement clients

Bloomberg takes a look at the case of Kenneth Wayne McLeod, a financial advisor who handled retirement accounts and other investments for more than 1,100 people, most of them in law enforcement. McLeod gave frequent presentations on retirement planning at the FBI and other agencies, using them to sign up customers for his firm, F&S Asset Management Group. After a phone tip, the Securities and Exchange Commission raided McCleod’s offices. It took days of questioning, but McLeod eventually admitted he was a con artist — one of the first, the SEC thinks, brazen enough to scam an entire group of cops. Investigators say virtually all of the money is gone. And five days after confessing, McCleod killed himself.

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