A Ponzi scheme that brought in an estimated $300 million ended with FBI agents showing up at the fraudster’s door and shooting him in the middle of a bizarre four-hour standoff, according to a report.
The FBI raided the residence of Las Vegas attorney Matthew Beasley — one of two men who allegedly ran the Ponzi scheme — earlier this year after getting tipped off by short seller Hindenburg Research, The Wall Street Journal reported on Thursday (paywall).
Beasley opened the door sideways but — in a move straight out of a Hollywood crime flick — then faced forward revealing he was pointing a gun at his own head. He then brandished the gun in front of the officers and swung it at them, according to the paper.
FBI investigators shot him twice and Beasley retreated back into his home — bleeding from gunshot wounds in his chest and shoulder. The feds brought in a hostage negotiator, and Beasley “said he wished the agents had killed him—he said he would rather die than go to prison,” the Journal reported, citing federal prosecutors.
After a tense four-hour standoff, Beasley admitted the so-called “investment” opportunity, J&J Purchasing and J&J Consulting Services, he was running with Jeffrey Judd was a scam. He emerged from his house alive and was taken into custody.
It appears to be the end of a lavish…
