From the AOL News article:
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."
Behind it all, authorities said, was a self-described retirement investment adviser named Kenneth Wayne McLeod, 48. For years McLeod served as a trusted adviser to federal agents around the country, making free financial projections for retirement and in some cases offering high-yield returns of 8 to 10 percent on certain investments, according to an SEC filing in the case.
On June 22, McLeod was found dead in Jacksonville, Fla., of a gunshot wound.
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