When you spend all your money on useless shitty items in a shop. Instead of becoming rich with millions of dollars, you become rich with many crappy items that clutter your house.
Last Sunday, my family all went to the thrift shop and spent ALL our money on some RC cars and helicopters that looked 'cool' and like they'd work, but it turns out that they were broken and are now cluttering our apartment. We went broke and became SHITILLIONARES!
A person who fakes having more money than he or she actually does, and who earned the money they have by means of scams, dubious means, duplicitous shyster shit, or fake schemes.
That guy's a Shillionaire--he won't release his tax returns because he doesn't want the rest of the country who went broke at his fake real estate college to know he blew the cash he stole from them on Russian hookers, crooked lawyers, and paying off porn stars.