A man who overcharged customers for printer toner has been sentenced to four years in federal prison after defrauding over 50,000 individuals over six decades, earning over $126 million along the way.
As per the press release shared by the US Department of Justice, (highlighted by Vice) the perpetrator, Gilbert Michaels owned IDC Servco and Mytel International. He used to sell toner with the help of high-pressure call centres at prices over the retail price.
They would call companies telling them that the price of the toner had skyrocketed. However, they had the option to purchase toner in bulk to lock in a lower price. Victims felt the deal was legit and would eventually go ahead and sign order confirmation forms.
Soon after, IDC would ship the toner to…