Doug McClain learned the ins and outs of financial fraud while working for Robert Colgin Wilson, who—far more than “The Wolf of Wall Street”—exemplified the role of American organized crime in financial fraud during the last quarter of the 20th Century.
Wilson was no fly by night. His roots ran deep. When he was convicted of securities fraud in the mid-70’s, his lawyer during the trial and appeal was the same Dallas attorney, Emmett Colvin, who a decade earlier represented Jack Ruby during his trial for the murder of Lee Harvey Oswald.
When the Tampa office of Homeland Security Investigations (HSI) partnered with McClain and other members of organized crime in a still-unexplained drug trafficking operation that brought tons of cocaine into the U.S. between 2003 and 2008, they were getting a known quantity.
When that effort went awry, Doug McClain’s last big play occurred with the hurried stripping out of a coal mining company in the coal fields of Kentucky—between July 2010, when he and his crew became the owners of eight separate coal mines—and May 2011, when the federal government stepped in and call a halt to the thieving.