By Karl Denninger
How much longer folks before we start throwing all the crooks in jail?
In the e-mail dated June 18, K. Wayne McLeod, who served as CEO of the Federal Employee Benefits Group, Inc., told clients he was terminating the “FEBG Fund,” a fund that had been marketed to retired federal law enforcement officers. McLeod said interest payments for the month of June had “been suspended” and “nothing further [would] be sent.” In the e-mail, he informed clients that he was praying that they would forgive him at some point in the future.
Forgive him at some point in the future?
That sounds like something someone would say at a sentencing hearing.
Eh, hope you didn’t have any money over there.
The key is “didn’t have” – not, if this report is correct, “still have.”