Michael Pouls sentenced to 8 years

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Hugh Gordon's picture
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Once every hundred years or so there actually is some justice in this world.

http://www.inquirer.com/front_page/20140308_Prison_for_Main_Line_developer_in_fraud_case.html

Michael Pouls, a Main Line developer whose name had for many become synonymous with the borrow-and-spend excesses of the early 2000s, saw his wave of prosperity come crashing down Friday as a federal judge sentenced him to eight years in prison for bank fraud. . . .

"He's not being punished for his success," the judge said. "He's being punished for stealing $12 million."

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The courtroom scene, as U.S. marshals handcuffed Pouls in front of his family, marked a significant reversal for a man whose public persona has largely been tied to displays of opulent wealth - most recently in 2009, when his daughter led MTV cameras on a tour of his 15,300-square-foot "fairy-tale mansion" in Gladwyne, and most infamously two years earlier, when a spat with a second-grade teacher at the Baldwin School mired both parties in a court fight that fueled gossip for months.

Bruce Castor represented this guy, and tried to make the argument that he is a sterling example of the America Dream at work.   Pouls began his fortune by selling credit cards to college students, which is probably more unsavory than stealing from banks, especially ones of the ilk of Wilmington Trust.  .  .  Also, of course, his use of his supposed wealth to try to ruin a teacher's career.     Read the whole article if you can get behind the paywall, it's worth it. 

 


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dmuth's picture
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