Michael Scripps, 36, a member of the Scripps media family, was found guilty in U.S. District Court in Philadelphia of defrauding his mother and mentally disabled uncle of $3.6 million,
the
Philadelphia Inquirer
reported.
Scripps was ordered immediately to jail and could face a seven-year prison term, the article said.
Michael Scripps’ great-great-grandfather founded the Evening News Association, a media company that included the
Detroit News
and was sold in the 1980s for more than $700 million. Scripps’ ancestor was a half-brother to E.W. Scripps, founder of media conglomerate E.W. Scripps Co., the article said.
Scripps’ mother, Melissa Scripps, testified that her son persuaded her to let a friend manage her trusts and her brother’s and then raided the accounts, the
Inquirer
report said. According to the report, he spent the money on cars, jewelry and two women — his ex-wife, who had been a stripper, and a porn star.
Melissa Scripps admitted that she also spent her money unwisely, on world cruises, private jet flights for her dogs, dresses once owned by Princess Diana and a Napoleonic tiara, the article said. She was legal guardian for her mildly autistic older brother, David Scripps.
Michael Scripps had his own six-figure trust fund plus a $2,900 monthly allowance from his mother, the report noted.
Melissa Scripps found out about the thefts in 2006, when she noticed a $40,000 withdrawal from her brother’s account after refusing her son’s request for the same amount, the
Inquirer
article said.
Michael Scripps’ attorney argued that his mother knew about the withdrawals and had given him permission to spend money as he needed, according to the report.
In 2008, Merrill Lynch agreed to pay $5.8 million to settle the fraud but required Melissa Scripps to report him to federal authorities, the
Inquirer
article said. Richard “Duke” Gleeson, the financial adviser, has already pleaded guilty but has not yet been sentenced, the article said. (Source:
Philadelphia Inquirer,
April 13, 2013.)
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