Hall of Fame Retains Monroe’s Mandolin

by | 4 Jan, 2009

The Country Music Hall of Fame and Museum will get to keep historic instruments from Bill Monroe, Johnny Cash and Mother Maybelle Carter pledged by a man who committed suicide after being accused of defrauding millions from investors. The settlement between the Country Music Foundation, which operates the museum, and the trustee handling the bankruptcy for Bob McLean was filed Tuesday in bankruptcy court in Nashville. It requires the museum to pay $750,000 to McLean’s bankruptcy estate to help pay back his creditors.

McLean, an investor from Murfreesboro, was accused of swindling victims of more than $67 million in a Ponzi scheme. He committed suicide last year after investors filed an involuntary bankruptcy suit against him.

Read John Gerome, AP Entertainment Writer’s whole story on Yahoo News

The original story  The Australian Bluegrass Blog