I was thinking indirect rollover. Shyster A distributes $150K to shyster B and issues a 1099R. Shyster B loses all the money and never distributes a 1099R cuz it's all gone. 

https://www.irs.gov/newsroom/help-for-victims-of-ponzi-investment-schemes

Was either shyster investigated by the SEC?  Do a google search for the individual and the SEC.