Founder Indicted! $590k from Angels Went to $2k Loft and $26k in Groceries (betabeat.com)

I know of a person in the valley who seems to have done something similar. One whom I avoid like the plague! I am happy this doesn't appear to happen all that often.

Take a look at the source of that page: http://pastie.org/private/tlskiu3wxnwgisqq14sr8a Any tech person could have seen through the bullcrap.

Headline is inaccurate - he moved to a place that cost $2k more a month. I wonder what the actual rent was - $2k/month in manhattan is pretty cheap.