The CNBC documentary American Greed featured Michael Scripps and his family’s theft. He was found guilty and sentenced to nine years in jail. Michael defrauded his mom and uncle for $3.5 million by sending money through their bank accounts. It was covered in 2016 and 2021 by American Greed, CNBC’s longest-running primetime original series.
Who is Michael Scripps? Details of the Con Artist explored
After the death of his parents, Michael Scripps inherited the Detroit News from his family. Considering he was 36 in 2013, he is likely 45 years old. Even though he hasn’t made it into Wikipedia just yet, he’s well-known for stealing $3.5 million from his family. In the 1990s, he attended a university in New Orleans and earned an MBA, as stated in his biography. In 2006, Michale became apart from his relatives. His trial occurred shortly after he reportedly married again and became the father of a baby girl.
Is Michael Scripps still in jail? Where is he now?
The time that Michael Scripps has been imprisoned has almost run its course. Still, there’s been no word on when he’ll be freed. They have been holding him since April 2013. Scripps was convicted on seven wire fraud charges and sentenced to 9 years in prison and three years of supervised release. Mellisa Scripps, his mother, was not present for the hearing. He allegedly stole $3.6 million from his mum and uncle. Unexpectedly losing $40,000 in her brother’s account in 2006 alerted his mother to the crimes. Instead of reporting the scam, Merrill Lynch paid $5.3 million to the victim’s mother to cover their tracks. The information was used to make the arrest. Equally harsh was the one-year sentence handed down to his friend’s helper. The court also mandated that the two pay back $3.6 million in damages. He filed an appeal of the court’s decision to deny his relief request in March 2020.
Michael Scripps’s Mother and Uncle Sued Him for Family Fraud
His family originally owned the Detroit News and the Vineland (N.J.) Times-Journal. James E. Scripps, his uncle, founded the Evening News Association with his half-brother Edward Willis Scripps. They made a profit of more than $700 million on the sale of their media firm in the 1980s. However, it has nothing to do with E.W. Scripps Co. Melissa, Michael’s mother, got $11 million and took over her somewhat autistic brother David’s shares.
Their lawyer estimated her wealth to be about $100 million
Michael was concerned that his mother was frivolously spending money on drugs and expensive jewellery. She spent nearly $1 million on a family globe trip, Princess Diana’s outfits, a Napoleonic tiara, and marijuana. In addition, she has tied the knot four times. Even with his six-figure trust fund and an extra $3,900 monthly allowance, it wasn’t enough. His mother, uncle, and a buddy all went with him to a strip club in Atlanta in 2002. Next, Michael threatened his mother with a picture of her with a dancer. She transferred the trust accounts to Merrill Lynch, where Richard Duke Gleeson was a financial advisor. He made almost 500 bank transactions in three years, spending much on his ex-wife Anna and adult film actress Jenna Bearden.