Fifty-year-old Gladwyne real estate developer Michael Pouls, whose six-bed, eight-and-a-half bath McMansion was once featured on MTV’s Teen Cribs, pleaded guilty yesterday to defrauding two banks for $13 million. Back in 2007, Pouls was seeking loans from National Penn and Wilmington Trust, but only had $3,000 in the bank. So he created some false documents, claiming he was worth $28 million. This is the latest in a series of morally bankrupt maneuvers: You may also remember Pouls from the time he got his daughter’s teacher fired from the Baldwin School in exchange for a hefty donation. [Philly.com]
- News: Police Tasered Man After Apple Store Ran Out of iPhone 6
- Property: Main Line Monday: $2.25 Paoli Farmhouse Reproduction
- Property: $4M Manse With “Chocolate Room”
- News: Radnor Cop Commits Suicide Outside Police Station
- Property: Main Line Monday: Newly Listed $6M Contemporary
- Property: Pat Croce’s Estate Goes to Auction
Be respectful of our online community and contribute to an engaging conversation. We reserve the right to ban impersonators and remove comments that contain personal attacks, threats, or profanity, or are flat-out offensive. By posting here, you are permitting Philadelphia magazine and Metro Corp. to edit and republish your comment in all media.