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A SPECIAL REPORT: FRAUD

HIGH AND DRY: In the mid-'80s, the FBI suspected that Michael Maddox of San Clemente had stolen more than $2 million from investors. . . . But bigger cases soon took precedence, and the Maddox con went unattended. Figuring he was home free, Maddox bought a bottle of champagne, intending to open it five years later when the statute of limitations expired. . . . But only three days before champagne time, Maddox was arrested. “He was so angry,” Special Agent Jim Donckels says.


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