Man Sentenced For $3.6 Million Credit Card Fraud

A Californian named Andrew Michael (not pictured at left) was sentenced to four years in federal prison last week for scamming Citibank and credit card companies by fraudulently applying for an $8.5 million commercial line of credit—some $2 million of which he spent on personal goods for himself, including “170 troy ounces of silver, 479 tubes of gold flakes, [and] a Rolex watch.”

Michael is quite an imaginary businessman in other fields as well:

During the time the fraud occurred, Michael was on probation after being convicted of practicing medicine without a license in 2005. He operated the Henderson medical facility, where he oversaw medical procedures and offered advice, according to court records.

So where did the remaining $1.6 million go? His wife and mother were also issued corporate Diners Club cards on the line of credit; his mother plea-bargained for an 18 month sentence and his wife will be sentenced this Wednesday.

“Man sentenced to 4 years in credit scam” [San Diego Union-Tribune]
(Photo: Getty)

Comments

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  1. RandoX says:

    4 years? Does he still have to pay it back?

  2. IcarusRisen says:

    Man, how does someone accomplish something like that?

  3. milk says:

    That seems like a light sentence. I mean, that’s a hell of a lot of money.

  4. starrion says:

    casey serin had 2.2 million in debt.

    He just lied.

    This guy probably just knew to tell the right lies at the right times. Still wasn’t smart enough to pack up and head out after he had the credit converted to assets.

  5. hejustlaughs says:

    @IcarusRisen: Apply for tons of personal credit.
    Build credit history.

    Apply for tons of business credit with a personal guarantee (that you’ll be personally liable for business cc debt).
    Build business credit history.

    Apply for tons more of business credit and report fake business income numbers to justify high credit lines. Why would you lie? You have the credit history to back you up!

    Spend spend spend.

  6. ottawa_guy says:

    My goodness.. American banks will give credit foolishly to anyone…. no wonder this happened.

  7. nutrigm says:

    @starrion,

    He probably only speaks American. So he wouldn’t have made it anywhere else! lol

  8. rmz says:

    @starrion: I was wondering how long it would take for someone to mention everyone’s favorite kangatard.

    Hooray!

  9. CaptainConsumer says:

    Andrew Michael, so you got a lot of money. You’ll have gladly given it all back if by the time you get out of jail your farts make noise again

  10. Blueskylaw says:

    Why is he buying silver when its near the top (Hunt brothers market cornering not included). No wonder he got caught.

  11. katylostherart says:

    he should have left the freaking country. really, if you’re going to commit a crime on that scale, just MOVE.

  12. NoNamesLeft says:

    Wait, I didn’t read the article but I though America did away with debter’s prisions.

  13. When you’re $10,000 in debt, it’s your problem. When you’re $3.6 million in debt, it’s Citibank’s.

  14. KernelM says:

    @NoNamesLeft: Fraud is still a crime.

    Wait, I should have stopped reading your comment after “I didn’t read the article…”

  15. anatak says:

    @NoNamesLeft: He isn’t going to jail for ‘debt’, he’s going to jail for the fraud (lying) that helped him acquire the debt. Big difference.

  16. Mr. Gunn says:

    He must have thought he was smart getting through the financial reviews required for such lines. Nobody ever is smart enough to quit while they’re ahead, are they?

  17. jmschn says:

    @nutrigm: i know what you were intending on saying but I’m not sure speaking American is accurate

  18. Anonymous says:

    @katylostherart:
    Seriously. Steal once, Steal big, and when you’ve got the cash: disappear.

  19. zentex says:

    @Sir Winston Thriller: So THAT’s what we are all doing wrong…

  20. G_L says:

    Only 4 years for stealing $3,600,000?! You’d get more than that for stealing a $3,600 car. :(

  21. kyle4 says:

    I like how you mention it’s not the guy on the left. So that if people ever see that guy they yell at him what a fraud he is.

    This guy defrauded and got caught, big time. I wonder who’s paying back that money though.

  22. Silversmok3 says:

    4 years? I have a better sentence for him.

    Sentence him to pay back $3.6 million at 15% interest to Citibank,make it exempt from bankruptcy,and if he goes into default, all his assets are seized, and THEN he goes to jail.

    Just dont ask where I got the inspiration for that little torture ( cough cough sallie mae).

  23. econobiker says:

    Crimes with a pen are always more profitable and earn less sentence than crimes with a gun…

  24. Interl0per says:

    Amazing how people can put so much effort into being evil/moronic bastards. You would think they would use their savvy to create a real business that wont land you in PMITA prison.