Merwin Coad

Doyle Merwin Coad (born September 28, 1924) is an American retired minister and politician from Iowa who served as a member of the United States House of Representatives for three terms from 1957 to 1963.

Coad's home county (Boone) was included in Iowa's 5th congressional district, which had been represented since 1959 by popular fellow Democrat Neal Smith.

[5] Meanwhile, stories of Coad's financial problems, including gambling debts, and losses from his grain market investments, were published in The Des Moines Register and Time magazine.

In July 1963 Coad began working in the Kennedy Administration as a $75-per-day consultant for the Agency for International Development's office of material resources.

[9] Coad then became involved in real estate lending in the Washington D.C. area, but by the late 1960s he faced at least one civil suit, and later a grand jury investigation.

[10][11] In one civil suit U.S. District Court Judge John Sirica enjoined Coad from foreclosing on the plaintiff's home, reportedly stating, "This is a racket .

"[11] By the early 1980s, Coad was speaking at free seminars, marketed in newspaper advertisements with the headline, "You Can Buy Real Estate with $10 Down and Become Wealthy in your Spare Time.

"[12] One such ad stated that Coad was "America's most effective and dynamic instructor on real estate and is the foremost consultant on no money down purchasing techniques.