This is a very old story. I first heard it around 10 years ago. If you read the follow on it says:
The events described above did not occur in Charlotte, N.C., or anywhere else. This is the latest (and most verbose) retelling of an old urban legend that has roots in humor.
In some variations, the cigar-buyer is just an average scammer, in others, he's an accountant. In every version, however, his clever scheme always backfires and he ends up losing more than he wins.
http://www.breakthechain.org/exclusives/cigars .html