NPR logo TARP fRAUD (small f)

TARP fRAUD (small f)

You might have missed it, because really it amounts to a local news story. But the U.S. Attorney for the Middle District of Tennessee this week filed (according to the press release) the "first charges in connection with a SIGTARP investigation" against one Gordon B. Grigg whom, it is alleged, embezzled more than $10,922,000.

Grigg wasn't actually stealing TARP money or this would have been big news. The bailout connection is that Grigg claimed he was investing people's money in "TARP guaranteed debt." As far as I know, no such thing exists.

Also, as the charging documents helpfully lay out

Defendant GRIGG and ProTrust
(1) never met any of the qualifying criteria to receive TARP funds;
(2) never applied for TARP funds;
(3) never received approval from the Department of Treasury to receive TARP funds; and (4) never received TARP funds.

Ok, ok, we got it.

According to Grigg's bio, he started a restaurant at age 20 and things took off from there, eventually becoming a "life coach."