It looks like you're using an Ad Blocker.

Please white-list or disable in your ad-blocking tool.

Thank you.


Some features of ATS will be disabled while you continue to use an ad-blocker.


Hundreds of Federal Agents Fall Victim to Ponzi Scheme

page: 1

log in


posted on Jul, 11 2010 @ 08:22 PM
[I thought I should post this in "General Conspiracies" rather than the economic meltdown forum, because it is a conspiracy involving governement agents, which adds a wrinkle beyond the merely finanical, IMHO.]

Well, as always when people are scammed on a mass level, I feel sorrow for the victims and their familes, many of whom lost everything.

Perhaps this will spur the feds to do more to combat financial and economic corruption. Taking on this many federal agents is bound to have serious reprecussions. Maybe we really will see a mass pinstripe perp-walk now.

FBI agents are supposed to unearth scams, not become victims of them. This time is different.

Some 300 retired and current federal agents -- representing the FBI, the Drug Enforcement Administration and Immigration and Customs Enforcement -- collectively invested tens of millions of dollars of retirement money in what turned out to be a Ponzi scheme allegedly run by a Florida man who committed suicide last month, an attorney in the case said.

The FBI and the Securities and Exchange Commission are now investigating and trying to recover funds.

"There are definitely [agents] who have lost their life savings," Fort Lauderdale attorney Michael Goldberg, who is representing the victims, told AOL News.

The reaction of the agents? "Pretty much what you expect," Goldberg said. "Shock and anger."

More at source:

[edit on 7/11/10 by silent thunder]

posted on Jul, 11 2010 @ 08:31 PM
Where did these agents raise the "tens of millions"?

Poetic justice?


posted on Jul, 11 2010 @ 08:34 PM
[edit on 11-7-2010 by hawkiye]

posted on Jul, 11 2010 @ 08:37 PM
They should stick with the traditional money laundering schemes, it costs more but your money is clean and secure in the end.

posted on Jul, 11 2010 @ 08:44 PM
So the man who scammed all those hundreds of FBI and DEA agents just "committed suicide", eh?

I'm gonna go out on a limb here and.... disagree with that. All it takes is one of those retired agents to call up an old contact who owed him a "favor".

Let me guess, he was found dead in a seedy motel room bathtub with slit wrists, just across the border in Georgia.

posted on Jul, 11 2010 @ 08:45 PM
10M divided by 300 Agents = $33,333.33 each
that's an avg approximation.

wow, that's an entire retirement package wiped out.

No wonder the guy suicided.

I feel sorry for you guys and gals.
If it's any help
the Fed Gov does this very same
thing to us citizens on a daily basis.

Maybe you folks need to come work
WITH the common man

posted on Jul, 11 2010 @ 08:48 PM
reply to post by Fractured.Facade

300 agents can't raise a few ten thousand dollars during the lifetime of their employment?

posted on Jul, 11 2010 @ 08:59 PM
reply to post by Highground

It said tenS of MillionS

Both with an S.

That means more than ten MILLION... In fact with the s it means more than 20 million.

I bet it is much more than is being spoken of in the report.

posted on Jul, 11 2010 @ 09:12 PM
By the way, I know of some feds who have several of these "retirement funds"

Only the good agents would be foolish enough to have their entire savings tied up in one.

The really smart, corrupt, rogue agents know how to secure vast amounts of money and invest it better than most of the top personnel and executives on Wall Street.

Bet there are some who really do not want any kind of legitimate investigation in this particular ponzi scheme.

But I could be wrong.

posted on Jul, 11 2010 @ 09:45 PM
"representing the FBI, the Drug Enforcement Administration and Immigration and Customs Enforcement"

Nuff said?

You ain't seen nothing yet boys and girls.

top topics


log in