Consumerist
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)
