Tuesday, February 21, 2006

Playing with the Big Boys

Those of you who read (or watched) "Catch Me If You Can" and thought that Frank Abagnale could never get away with such a brash scheme in today's world, think again. Check out Michael Cassini, but hold on to your wallet. He racked up fraudulent gains of $4.5M+ by the time he was 26 years old. This guy went from working as a temp at Microsoft (where he was canned because he didn't have adequate computer skills) to claiming that he was a "Microsoft Millionaire" and taking out (and defaulting on) huge loans at a number of Seattle and Silicon Valley banks.

I guess it was a good ride while it lasted. After running through $60K per month, buying a collection of Porches and Ferraris and putting down a deposit on a $5.6M airplane, he was finally caught.


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