Scripps Media Heir Heads to Jail for Stealing Millions

Michael Scripps stole $3.6M from family inheritance

   

Michael Scripps — son of U.S. media magnate James E. Scripps — has been sentenced to nine years in prison for stealing millions from his family.

Prosecutors said Scripps spent $3.6 million on “cars, jewelry and women, including strippers and porn stars,” according to The Associated Press.

Michael’s mother Melissa hired his college friend Richard “Duke” Gleeson to manage a $9 million piece of the Scripps family inheritance. In addition to the millions stolen by Scripps, Gleeson pocketed $300,000. He will be sentenced later Monday.

Melissa Scripps inherited the fortune built by the man who founded The Detroit News. Her inheritance was valued at $11 million, but this sum could be closer to $100 million, according to her lawyer.

Scripps had been awaiting his sentencing since he was convicted back in April for wire fraud.


Article printed from InvestorPlace Media, http://investorplace.com/2013/07/scripps-media-heir-heads-to-jail-for-stealing-millions/.

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