When claiming bankruptcy, it's probably best that your story be at least somewhat based in reality. The FBI has announced that Diamond District jeweler Shalamu Nisimov has been charged with bankruptcy fraud after claiming a customer failed to pay for $5.6 million in merchandise. That customer didn't actually exist though. Manhattan U.S. Attorney Preet Bharara said in a statement, “Shalamu Nisimov allegedly tried to pull the wool over the eyes of the bankruptcy court and his creditors by creating, out of whole cloth, a fictional customer and non-existent goods. It appears this was all just a cover for Nisimov’s own fraudulent scheme." But what a deal he'd get you!

According to the complaint, Nisimov filed Chapter 7 in September 2006, and listed as accounts receivable about nine shipments of jewelry to "Fruntik Makartichiyan" of Armenia worth $5.6 million. Nisimov said on oath that he sent the shipments on credit, and claimed Makartichiyan was an old friend from when the two lived in the Soviet Union. However, the National Security Service for the Republic of Armenia show no such Makartichiyan exists, and Nisimov allegedly kept or sold merchandise that had been provided to him on credit. He faces a maximum of five years in prison