Kenneth Wayne McLeod
AKA: Wayne McLeod
Born: January 22, 1962 / Jacksonville, FL
Died: June 22, 2010 / Jacksonville, FL
Position: Owner, F&S Asset Management
Crime: McLeod lured current and retired law enforcement to invest in a “special fund,” which he said were government bonds he promised would return 8% – 10% interest annually, tax-free. His scheme was run similar to a classic Ponzi scheme where he targeted a like-minded group of people and told them anything they wanted to hear in order to get their investments. McLeod was praised by high ranking law enforcement agency leaders, and claimed to have “exclusive clientele,” including federal judges, high-ranking government officials, and even a Supreme Court justice.
Losses: $34 million from over 260 investors, almost all of them current or retired law enforcement.
Charges/Sentencing: After being alerted of a possible fraud scheme, inspectors from the SEC were sent to interview McLeod in Jacksonville. On the second day of his interview, McLeod admitted to his entire fraud scheme. Five days after confessing to the SEC, McLeod committed suicide in a park near the St. Johns River in Jacksonville, FL.