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July 23, 2007

Feds Raid Robert McLean's Office

The Feds raided Robert McLean's office on Friday:

Federal agents searched the office and home of Murfreesboro investment adviser Robert McLean Friday.

Spokeswoman Jennifer Pollard of the Internal Revenue Service Criminal Investigation division said IRS agents assisted the U.S. Postal Service and the FBI in the search.

"We were there on official business," Pollard said. "I can't tell what paperwork was taken."

He's stolen at least twenty million dollars from the poor souls unfortunate enough to trust him. He even owes Middle Tennessee State University money.

Middle Tennessee State University acknowledged this morning that philanthropist Bob McLean — alleged to have stolen nearly $20 million from investors — owes the university money.

McLean faces a U.S. Bankruptcy Court hearing in Nashville Tuesday as creditors try to force the sale of his assets through an involuntary bankruptcy petition.

The 1972 MTSU graduate and investment advisor has been well-known in Murfreesboro for years as a generous philanthropist and supporter of the arts and the university. He was checked into a psychiatric hospital in Nashville last week, but the hospital has declined to confirm whether he still is there.

Creditors are trying to force this crook into "involuntary bankruptcy". Har! Har! I've never even heard of it, but, if anyone deserves it, this bastard certainly does.

Creditors who say they lost millions of dollars to Murfreesboro investment adviser Robert W. McLean are trying to force him into bankruptcy to get their money back.

Three investors, including Brentwood venture capitalist Fred C. Goad and retired Murfreesboro neurosurgeon Warren F. McPherson, filed the involuntary bankruptcy petition Thursday in federal court in Nashville, claiming they are owed a combined $11.4 million.

The third investor, Ron Vannatta, is one of at least seven investors who have sued McLean in the past five weeks, saying he owes them more than $15 million. A lawyer for one of the plaintiffs has estimated the amount could go as high as $50 million or more.

Goad and the others filed their petition under Chapter 7 of U.S. Bankruptcy Code, which could lead to the sale of McLean's assets.

This idiot's life isn't worth a plugged nickel. He was running a Ponzi scheme for 10 years and it finally collapsed on him. I doubt he will survive long enough to be formally indicted. The rats take care of their own on the Cumberland Plateau.

Previous Post: Massive Ponzi Scheme Unravels in Middle Tennessee

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Posted by Rob Kiser on July 23, 2007 at 08:24 PM


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