Eep. Well, this just puts a damper on things, doesn’t it?
Remember when a man by the name of Michael Egan accused X-Men director Bryan Singer and a number of high powered executives of sexual abuse when he was a minor earlier this year?
Well, the 32-year-old is back in the limelight and it’s not for a good reason.
This time, instead of accusing another Hollywood player of sexual abuse, he’s being indicted on securities and wire fraud charges in North Carolina!
According to the U.S. Attorney’s Office, Michael was:
“engaged in a fraudulent investment scheme by inducing his victims to enter into various fictitious business and investment contacts.”
The grand jury indictment said Michael promised that he was investing money in projects like land development, TV shows, etc, but he did not keep his promise.
The indictment also claims the 32-year-old lied about his financial background and personal assets.
The U.S. Attorney went on to explain:
“For example, the indictment alleges that Egan forged brokerage account statements to reflect fraudulent business practices when, in reality, those accounts had no money or a fraction of the purported amount.”
Authorities reportedly revealed Michael used the money he received to fund his lifestyle.
If convicted of these charges, he can receive the maximum of 20 years in prison and a $5 million fine for the securities fraud count! Notto mention a 20-year prison term and $250,000 fine for wire fraud!
This new information definitely makes us wonder if all his past accusations were true or if he was just using them as a way to put more money in his bank.
[Image via Pacific Coast News.]