It seems as though the reselling of Playstation 5 consoles has become quite the trend for those looking to make a quick buck.
Back in March of this year, a 37-year-old woman from Zabbar was released from custody after she was charged with committing fraud on multiple false online Playstation 5 sales.
Now, a New Jersey teenager by the name of Max Hayden, has managed to make a whopping $1.7 million at just 16-years-old through the same practice.
The teen spent his COVID-19 lockdown creating a money establishing system of purchasing brand new PlayStation, and even Xbox, consoles and selling them for more than double their retail price.
Also selling scarce items due to the pandemic, such as Pokemon trading cards and outdoor heaters, the teen sold the consoles for around $1,100. He ended his 2020 with a profit of more than $110,000 on $1.7 million in revenue.
The teen now operates under the name MH Book Store, a website which describes itself as the most convenient solution for all high demand e-commerce needs.
Unfortunately, such success stories aren’t always replicable as the Maltese version of this story ended with the woman being accused of fraud on 46 individuals. The ‘customers’ were paying hundreds in deposits to no avail as no PS5s were delivered to them.
The woman was released from arrest but was handed a personal guarantee of €10,000 and a regular signing at the police station. Guess not all such ventures end up success stories after all.
#MaltaDaily