Californian man, 79, sentenced to 4 years for charging small businesses and charities hugely inflated prices for printer toner

www.marketwatch.com
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fairly difficult
In one six-year stretch, prosecutors said Gilbert Michaels sold $126 million worth of toner to unsuspecting victims
It was the worst kind of paper jam.

A 79-year-old toner salesman was sentenced to four years in prison for running a decades-long, multi-million dollar scam that caused tens of thousands of small businesses and charities to pay hugely inflated prices for printer cartridges.

Gilbert Michaels, of West Los Angeles, was accused of utilizing boiler room telemarketing businesses to dupe victims into paying as much as 10 times the retail price for toner, federal prosecutors said. He was convicted with six others of conspiracy, mail fraud and money laundering in December 2019.

Michaels' operation dates back to the 1970s. Prosecutors say he may have defrauded more than 50,000 victims around the country over the years. In one six-year stretch, prosecutors said Michaels sold $126 million worth of toner to unsuspecting victims.

" Gilbert Michaels, of West Los Angeles, was accused of utilizing boiler room telemarketing businesses to dupe victims into paying as much as 10 times the retail price for toner. "

Among the victims were a YMCA, a California country club, a Christian preschool in Alabama, a tow truck…
Lukas I. Alpert
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