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Country Music Hall Of Fame To Keep Swindled Guitars
By Mack Rawden: 2008-12-30 21:55:45
Here a Ponzi scheme. There a Ponzi scheme. Everywhere a goddamn Ponzi scheme. Bob McLean, former public enemy number one after swindling investors out of sixty-seven million, donated several rare guitars to The Country Music Hall Of Fame And Museum, including three which belonged to Mother Maybelle Carter, Bill Monroe and Johnny Cash, respectively. Soon after, McLean’s little underhanded tricks were discovered and he offed himself rather than face prison.
According to The Associated Press, lawyers for the duped victims tried to recoup one and a half million dollars from the museum, but both parties have agreed to a seven hundred and fifty thousand dollar settlement, which will keep the instruments in the Hall Of Fame, rather than be auctioned in a terrible economy to some private collector who would likely hide the treasures from the world. Speaking about the sordid affair, the museum’s trustee commented, “Everyone involved in the lawsuit was sensitive to the historical significance of the instruments involved. However, the interest of the creditors in this bankruptcy proceeding, many of who lost their life savings, could not be ignored either.” Sounds like everyone won in this deal, except the museum who now has to pay seven hundred and fifty grand and the creditors who lost their money and Bob McLean’s family who, well, lost a lot of respect and a father.
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