I'm sure there are plenty of examples like that. BUT, there were also a lot of retirees around my part of the world who trusted this guy with 100% of their savings. They could certainly be accused of being stupid, and probably a little greedy; but, these people got screwed and I feel sorry for them. I wouldn't want to be in my 70's and suddenly see my life savings vanish. Screwing the elderly out of their savings is a pretty common occupation down here (Palm Beach, FL), unfortunately.