An Associated Press article today, dateline Bellevue, Washington:

"A former agent at a Bellevue travel company was charged Friday with stealing nearly 3.7 million airline miles from high-end clients, then using them to buy plane tickets for herself and her family. ... According to a wire-fraud charge unsealed Friday in federal court, Yeakel used the airline miles to buy 135 flights for herself and her family, worth more than $109,000."

(For that number of miles, it doesn't seem to be a very favorable redemption rate!)

Here is the full article:
http://seattletimes.com/html/localne...ickets12m.html