American Greed: A Most Generous Criminal

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In this episode of American Greed...

Case File: A Most Generous Criminal

Bob McLean
The Con Man

Jonathan Quinn
The NFL Quarterback

Ron Vannatta
The Biggest Client

The Money Manager
Bob McLean sets up shop in a small town near Nashville. His clients include family and friends. The company’s high investment returns are the talk of the town. Does McLean truly have the Midas touch?

The Con
McLean is managing millions for his satisfied clients. He claims to invest their money in his own name and offers unsecured promissory notes with returns of 10 to 20 percent. It’s a highly unorthodox arrangement. But, the investments are not only unusual — they are illegal.

Living The Dream
The once low-profile investor now shouts success. He owns million dollar homes and rides around town in his own chauffeured limousine. He’s a philanthropist…donating millions to his favorite causes including the Country Music Hall of Fame. McLean’s spending is out of control.

Tragic Tale
The limelight fades. Investors become suspicious of a scam. A bank calls in a loan. The U.S. Attorneys Office lays out its criminal case. For McLean and his victims, the worst is yet to come.

American Greed reveals a multi-million dollar Ponzi scheme with tragic consequences.

Robert McLean's Lavish Spending, In Photos
Robert McLean was a trusted financial advisor and a celebrated philanthropist, running a successful investment firm and donating millions to his favorite causes. But McLean had a dark, devastating secret.
Web Extra: Ponzi Scheme
Professor Sandra Benson, from Middle Tennessee State University, explains the red flags in Bob McLean’s scheme.
Web Extra: A Case of Phony Philanthropy
Country Music Hall of Fame Director Kyle Young recalls a chance meeting with Bob McLean, a money manager accused of running of Ponzi scheme.
Document: Promissory Note from Robert McLean [PDF]
This is a promissory note between Robert McLean and Ron Vannatta for 20% per annum interest on $1.35M. Mr. Vannatta’s address has been redacted as has his client account number and the fax number at the bottom of the document. (Source: Government exhibit)
Document: Bankruptcy Court Document [PDF]
This is the Interim Report of Trustee Prior to §341 Hearing for McLean’s involuntary bankruptcy suit filed in the US Bankruptcy Court for the Middle District of Tennessee. It details how Mr. McLean spent funds from January 2002 through July 2007. Some individuals’ names have been redacted as has the contact information for bankruptcy trustee Robert Waldschmidt. (Source: US Bankruptcy Court case document)

PREMIERING THIS WEEK

Wednesday, February 22nd
Episode #55 Billionaire Con Man: Generous with Other People's Money 10p | 1a ET

STACY KEACH PROFILE

American Greed" is narrated by Stacy Keach. The award-winning actor of stage, film and television, is well-known for his portrayals of Detective Mike Hammer and Ernest Hemingway, for which he won a Best Actor Golden Globe. He is currently co-starring in the new feature film “Universal Pictures ‘The Bourne Legacy’”, and on Broadway in last season’s Lincoln Center hit play, "Other Desert Cities", playing at the Booth Theater this fall.