Businessman admits cheating companies out of $2.3 million

A fax machine in the hands of an enterprising criminal can be worth millions.

A Harford County businessman pleaded guilty in Baltimore to defrauding 71 companies of an estimated $2.3 million using bogus credit lines to buy products.

According to Michael Murray’s plea agreement, he owned Chesapeake Supply Inc. and fraudulently created references to get a good credit line with a Miami business. Prosecutors say the Street resident used the same concept with his other business, Sinclair Enterprises Inc.

In both cases, prosecutors say, companies sent him products worth millions but never got paid. In November, FBI agents seized fax machines Murray used to set up fake credit references.

— The Associated Press