▁check , ▁but ▁once ▁in ▁control ▁of ▁National ▁Heritage , ▁transferred ▁$ 3 ▁million ▁from ▁National ▁Heritage ▁to ▁help ▁cover ▁the ▁check . ▁This ▁began ▁a ▁long ▁series ▁of ▁schemes ▁in ▁which ▁millions ▁were ▁st olen ▁from ▁National ▁Heritage ▁by ▁the ▁group ▁of ▁invest ors . ▁Bad ▁invest ments ▁further ▁de ple ted ▁National ▁Heritage ▁capital . ▁ ▁In ▁ 1 9 9 3 , ▁the ▁group ▁decided ▁to ▁cover ▁up ▁all ▁the ▁missing ▁money ▁by ▁a ▁" mort g age - back ed ▁bond ▁scheme ". ▁We iss ▁( not ▁part ▁of ▁the ▁original ▁invest ment ▁group ) ▁was ▁contract ed ▁to ▁purchase ▁disc ount ed ▁mort g ages ▁with ▁National ▁Heritage ▁funds , ▁which ▁were ▁put ▁into ▁a ▁mort g age - back ed ▁bond . ▁It ▁was ▁believed ▁that ▁the ▁disc ount ed ▁mort g ages ▁could ▁be ▁re h abil itated , ▁and ▁thus ▁make ▁a ▁profit . ▁ ▁The ▁bond ▁was ▁fra ud ul ently ▁placed ▁on ▁National ▁Heritage ▁books ▁with ▁infl ated ▁values . ▁ ▁In ▁ 1 9 9 4 , ▁the ▁Del aware ▁In sur ance ▁Department ▁did ▁a ▁full ▁exam ination ▁of ▁the ▁company ▁and ▁placed ▁it ▁in ▁receiver ship . ▁Three ▁corpor ations ▁and ▁ 1 3 ▁individuals ▁were ▁conv icted , ▁including ▁We iss . ▁ ▁The ▁F BI ▁Section ▁Chief ▁for ▁Fin an cial ▁Cr imes ▁stated ▁in ▁ 2 0 0 1 ▁that ▁National ▁Heritage ▁was ▁the ▁largest ▁ins urance ▁company ▁failure ▁in ▁U . S . ▁history , ▁resulting