A 17-year-old New Yorker has made more than $130,000 selling white iPhone conversion kits.

Fei Lam started flogging the kits a couple of months ago at the "bargain" price of $279 and so far he has managed to sell about 500 units.

However, the young entrepreneur got a letter from a private investigator who accused him of selling stolen goods. Lam told The New York Observer that the claims were ridiculous and that he was 100 percent sure the parts were not stolen and that they were bought from a source close to Foxconn.

"There are a couple of other sellers online and somehow I'm the 'focus' of it all. I think this guy is just trying to scare me into stop selling on behalf of Apple," he said. "I don't know how this legal stuff works."

Lam is planning to use his earnings to help pay for college and set up a small startup. Considering he managed to make $130,000 in two months and irk Apple in the process, we believe he will do quite well.

More here.