Did anyone else watch Underground Britain last night on BBC2? If you didn't, you missed filmmaker Saul Dibb get close enough to "property millionaire" Spencer Michael to inhale a proper whiff of the bad odour surrounding Michael's business. What left me confused is... if Michael is veg-headed enough to let any old investigative journalist follow him around and interview his clients and workforce (a workforce that appears to "move on" every few weeks), why wasn't he too veg-headed to make a few million in as many years? I guess what I'm asking is... why are there rich stupid people? Perhaps the answer to that came late in the documentary, when former employees began to hint that Michael was encouraging vulnerable and unsophisticated people to borrow thousands of pounds on credit cards to attend his seminars, and then more thousands of pounds on more credit cards to find the deposit to purchase Michael's own properties, which he sells to them at vastly inflated prices. So if your stupidity extends to sleeping at night after a day spent ripping off desperate people, you might as well reap the rewards.

As it turns out Spencer Michael was being investigated by BBC's Watchdog back in March. A month later, Spencer Michael Consultancy of 72 New Bond Street had its wrists slapped by the Advertising Standards Agency for the way it was marketing its "Instant Millionaire Programme". Go here to read all about it. There's more evidence of nastiness, courtesy of Tiscali Money, here. Oh yeah, and here's how Spencer Michael clients treat their tenants. If all that hasn't put you off, go here "to join the property millionaires", and don't forget to tell us how you get on.