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Bryan Singer accuser indicted: Was it all just a cash grab?

A celebrity gossip junky, Caroline Goddard has been writing entertainment news for longer than the world has known Kim Kardashian's name. Follow her on Twitter at @GoddardCaroline.

Michael Egan's legal woes go from bad to worse: Bryan Singer accuser faces 40 years

The man who accused X-Men director Bryan Singer of sexually assaulting him as a teen is facing some major legal problems of his own.

Michael Egan has been indicted on federal charges of securities and wire fraud after allegedly lying to potential investors in a Halloween business and using their cash for personal expenses.

In what feds are calling a five-year scheme, Egan is accused of lying about his assets — including telling potential investors that he had partial ownership of several well-known hotels in Las Vegas — and about his connections to executives in the banking and venture capital field.

More: Bryan Singer moves on from sex abuse scandal in a major way

Then, instead of using the investor cash for his proposed business, he allegedly spent it on his pets, restaurant meals, groceries, medical bills and renting his personal apartment.

In April of 2014, Egan filed a lawsuit against Singer claiming that in the '90s, the director repeatedly sodomized him and made him perform oral sex as part of a sex ring organized by Hollywood player Marc Collins-Rector, who later pleaded guilty to eight charges of child enticement and luring five children across state lines for sexual purposes.

Singer steadfastly denied the claims, saying in a statement, "The allegations against me are outrageous, vicious and completely false. I do not want these fictitious claims to divert any attention from X-Men: Days of Future Past."

Egan later dropped the suit after holes were found in his time line of events. He faces up to 40 years in prison and a $5.25 million fine if convicted on the fraud charges.

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