Norman Sinclair
Capital Flight
Since 2011, the Detroit Police and Fire Retirement System has appointed four receivers to collect on a $10-million unpaid loan to repair and sell homes to low-income buyers. After discovering an elaborate Ponzi scheme and filing multiple lawsuits against the three debtors, one partner committed suicide while the other two fled and are thought to be in Panama.
The Grave Robbers
The story of the looting of $70 million from a group of 28 Michigan cemeteries is a tale of modern-day grave robbers who found buried treasure — not in the ground — but in lucrative funeral trust accounts that thousands of hard-working families had pre-paid decades ago.