Thanks to tax payer protector and crusader of bailout transparency, Inspector General Neil Barofsky, under the guide of the ever-noble Obama administration, Tennessee is in the headlines as the home to the first exposed government bailout related criminal case. Franklin’s very own, Gordon Grigg, was accused by the U.S. Attorney’s Office in Nashville on Wednesday for his creation of a $10.9 million fraudulent investment scheme.
In wake of the recent $750 billion government bank bailout known as TARP (Troubled Asset Relief Program) Grigg was able to swindle unassuming investors into investing in government backed bank dept. Sounds like a great plan, buy low and secure, banks start lending again and profits soar. Unfortunately, this investment proposal was nothing more than a mirage. Investor returns were paid with the dollars of subsequent investors, not the profits of their investment.
what a handsome devil
Guess it pays to do your homework. According to the Tennessean, Grigg’s hasn’t been a registered or licensed investor in Tennessee since 2005. But, you can’t blame the unfortunate fools for trusting this charlatan, he’s a self-proclaimed “life-coach” and a far from suspicious equivalent to the American dream: a successful business man, investment broker, family man and all around God fearing, handsome devil who coached kid soccer of all things. Just read his self-righteous bio on his ironically named investment corporation ProTrust’s website.
So the guy seemed like a gem with an enticing investment plan, but don’t be fooled by the Southern charm, Tennessee can play with the big boys on Wall Street; we’re just as greedy and twisted as the Bernie Madoff’s of the world.
See, I never trust guys with “wholesome,” George Clooney good looks like that. There’s just something something about it that rubs me the wrong way. In this case I guess I would have been right!