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Michael Scripps, Heir to Scripps Media Fortune, Convicted of Wire Fraud
PHILADELPHIA, New Jersey – Michael Scripps, 36, of Detroit, was convicted of all seven counts of wire fraud in a federal jury trial in Philadelphia, announced New Jersey U.S. Attorney Paul J. Fishman.
Scripps, an heir to the Scripps Media fortune, was convicted of stealing $3.6 million from his uncle and mother to fund his lavish lifestyle, including purchasing expensive jewelry, a car for his girlfriend, and luxury travel across the U.S.
The jury heard testimony that Scripps used his uncle’s and mother’s money to transfer millions of dollars to his own account at Merrill Lynch, resulting in $3.6 million in losses. His accomplice, Richard Gleeson, a former Merrill Lynch financial advisor, pleaded guilty to two counts of wire fraud and testified at trial.
Scripps could face up to 20 years in prison and a $250,000 fine, or twice the gross gain or loss from the offense. Sentencing is scheduled for July 15, 2013. He may also be ordered to pay restitution to his victims as part of his sentence.
U.S. Attorney Fishman credited special agents of the Philadelphia FBI, Newtown Square Resident Agency, under the direction of Special Agent in Charge Edward J. Hanko, with the investigation leading to today’s conviction.
The government is represented by Assistant U.S. Attorneys Terri Marinari and L.C. Wright of the U.S. Attorney’s Office for the Eastern District of Pennsylvania.
Defendant Information:
- Defendant: Michael Scripps
- Criminal Charges: 7 counts of wire fraud
- City and State: Philadelphia, Pennsylvania
- Crime Date: November 2001 through October 2006
- Sentence: Up to 20 years in prison, $250,000 fine, or twice the gross gain or loss from the offense
- Dollar Amounts: $3.6 million
Key Facts
- State: New Jersey
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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