Money doesn't grow on trees and you can't print it on your computer either.
That's the lesson Danny Ray Hardin, 52, learned Wednesday in Kansas City where he was convicted of selling $100 million in phony Treasury notes through his worthless personal bank, The Kansas City Star reported.
Hardin sold more than 2,000 promissory notes that he falsely claimed were backed by the U.S. Treasury to unsuspecting customers over the Internet, The Star said.
The so-called Private Bank of Danny Ray Hardin charged a fee for the transactions, which Hardin pocketed to buy a house and pay off his student loans, according to The Kansas City Business Journal.
The multiple counts of creating fictitious obligations and mail fraud could send Hardin to jail for at least 20 years, the Business Journal said.
The felon is no stranger to hard times. A profile in The Pitch said Hardin was formerly addicted to crack, destitute and set up for a drug bust that put him behind bars for 120 days.
Denny Ray Hardin, 52, of Kansas city was found guilty of multiple federal fraud charges, including issuing $100 million in worthless financial documents, on Wednesday, the Kansas City Star reported.
After getting clean, Pitch reported that he set up the fake bank to make up the money he'd lost following the arrest on drugs charges.