Bob McLean presented a check for $1,000,000 during the 2nd quarter at the MTSU vs. Louisville game Friday, Oct. 6, 2007 at L.P. Field. TMP File Photo.

Before the financial collapse exposed ponzi schemes across the world, including Bernie Madoff, Lou Pearlman and Edward Stein, Murfreesboro had Bob McLean.

McLean’s business began to crumble in July 2007 when seven investors sued for nearly $20 million, claiming he failed to pay investors who held promissory notes. He ended up taking his own life in September 2007.

His story will be told at 9 p.m. Wednesday, Feb. 16 in an episode of CNBC’s American Greed.

Charles Schaeffer, CNBC executive producer, said he was taken by the story after finding an article online at murfreesboropost.com.

“People felt bad that he died over this,” Schaeffer said.

Schaeffer said American Greed is always on the hunt for good stories and a general internet search for fraud stories turned up McLean’s.

“It was a powerful story that went beyond a simple case of stealing money,” Schaeffer said.

McLean was well liked and well known in Murfreesboro as a philanthropist. He committed $1 million to MTSU for renovations to the baseball field and academic programs, as well as donating 54 Steinway pianos to the School of Music.

He was also instrumental in helping the Country Music Hall of Fame acquire “Mother” Mabel Carter’s guitar, Bill Monroe’s 1923 Gibson Loar F-5 Mandolin and instruments owned by Johnny Cash.

Schaeffer said his research made him realize “that there was quite a bit of sympathy for Mr. Mclean from his victims. Many of his victims felt horrible that he took his own life because of money.”

The fact McLean had given so much to local organizations with “ill-gotten contributions” also caught Schaeffer’s attention.

“That’s why we named this episode ‘A Very Generous Criminal,’” Schaeffer said.



In all 370 investors came forward claiming McLean owed individuals as much as $8.9 million to as little as $8.

The largest lawsuit sought $8.9 million in payments for Ron Vannatta, Bette R. and Martha Vannatta, all of Shelbyville, Melissa Vannatta Keck of Boston and the First Christian Church Scholarship Fund in Shelbyville.

Former MTSU star quarterback Jonathan Quinn, who played with the Jacksonville Jaguars, the Kansas City Chiefs and the Chicago Bears, also sought $713,000 he invested with McLean’s company plus interest.

Ron Vanatta and Quinn were both interviewed for the episode.

The day before he was scheduled to meet with his creditors, he shot himself behind the First Christian Church in Shelbyville on Sept. 25, 2007. But that didn’t end his story.

In October 2007, auctioneers sold McLean’s furnishings and personal property to help recoup some $20 million he spent in funds invested with him. The property was sold at cut-rate prices and only returned a fraction of the debt McLean owed.

CNBC's case file.