Here's how a fake Saudi Prince conned investors out of nearly $8 million. (via CNBCMakeIt)
the "Prince of Fraud" after the then 21-year-old racked up nearly $3,500 in room and food bills at the Regent Beverly Wilshire Hotel, along with another $7,500 in limousine charges and more fraudulent purchases of Louis Vuitton luggage from Rodeo Drive shops.
In 1993, Gignac traveled to Hawaii, where he pretended to be a prince and scammed tourists out of nearly $30,000 to cover his stay at a luxurious resort by falsely claiming he could offer them a stake in an oil field in Saudi Arabia, according to, which cites court documents.
In 2003, Gignac was arrested again back in Michigan and charged with defrauding high-end department stores Neiman Marcus and Saks Fifth Avenuein clothing, jewelry and perfume, including Chanel fragrances, Brioni shirts and Salvatore Ferragamo shoes. At the time, authorities said Gignac had told store employees that he was a Saudi prince worth nearly half a billion dollars. He faced up to four years in prison.
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