DEA Agents Fooled for 20 Years by Ponzi Schemer Paid with Taxpayer Funds
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Kenneth “Wayne” McLeod ran a company called Federal Employees Benefit Group, and the DEA hired him to give at least 130 “seminars” for members of its workforce. He marketed an investment opportunity for 8 to 10 percent returns in tax-free income.
“DEA officials permitted McLeod to promote himself and his businesses in DEA facilities, and using DEA official channels,” according to the Department of Justice inspector general.
At least some DEA agents at the seminars questioned McLeod’s financial advice and stopped using him for a time, but the seminars soon returned after McLeod donated hundreds of thousands of dollars to the DEA Survivors Benefit Fund. At one DEA conference, he presented an over-sized $20,000 check to the charity.
“We believe that this enhanced McLeod’s ability to gain and maintain access to the DEA,” investigators wrote.
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