You gotta love America, the land of freedom and entrepreneurship, a land where anyone can be an overnight success and make the headlines. But America is also the land of lawsuits. 17 year-old Fei Lam is just about to know both the fun side and the not-so-fun side of being an entrepreneur in the US.

This kid form Queens, NY has been selling white iPhone 4 conversion kits using parts he acquired directly from a source close to the Foxconn’s iPhone factory in China. Selling from $135 to $279, these kits have made Fei Lam over $130,000 in the last few weeks. Everything was doing fine until he received an email from a private investigator…

The private investigator, who most likely works for Apple, accused Lam of selling stolen goods, which Lam says he is “100 percent sure is not the case”. So how did he get these parts again? Lam explains:

I knew a guy from a few years back that had somewhat of a relationship with folks in Foxconn.

That sounds shady!

At any rates, Lam’s website was so popular that it got picked up by TechCrunch and other blogs. I remember getting an email from Lam weeks ago about promoting his product on iDB but I didn’t pay any attention to it.

If it’s proven that Lam is indeed selling stolen part, he could get in real big trouble, which is probably why he started looking for a lawyer.

All this story is fun and entertaining but I have one major question about all this. If the parts are really coming from Foxconn’s factories in China, then why is this kid able to get them while Apple keeps postponing the release of the white iPhone 4?

[iPhone Savior]