For the summer of 2012, Lucy Sachs made plans to lease her 101-year-old, 18-bedroom East Hampton, N.Y., home, which her great-grandfather built.

Lee Hnetinka, the founder of tech startup Leetto and owner of Hamptons party-planning company Hamptons And Sons -- sublet Sachs' house from May 29 through June 26, 2012 for $30,000 under the guise of using the home for a family reunion.

Hnetka then began subletting the home to high school students as a party house at $350/night. In one weekend he made over $34,000.
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Links: www.dailymail.co.uk
By: jdubble07
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