If some shmuck came to you with a plan to create an online luxury shop that would allow you to try on clothes with a pre-measure avatar, would you buy into it? Yeah, neither would we, but apparently Andrew Albert was extremely convincing to investors. So convincing he managed to accumulate $590k for the online shopping site On1Ave, that would feature shops like Ralph Lauren and Gap, and partner with former VP of PR at Prada, Melissa Skoog.

Here's the catch; there was no site. A good chunk of the dough went to his pricey Tribeca loft, $26k in groceries, and $6,700 on his pets. Yep, his pets. So when Skoog became suspicious that this dude was swindling her and the investors, she got fired. Lucky for her because now dude is being indicted on grand larceny and fraud, and her rap is clean as a whistle.

[NY Mag]