Apple has removed yet another Application from its App Store as the company continues to try and police applications it wants to see on its iconic iPhone and iPod touch devices.

This time the culprit is the $999.99 "I Am Rich" application that promises allow you to show your friends just how rich you are.

The app, which description reads: "The red icon on your iPhone or iPod touch always reminds you (and others when you show it to them) that you were rich enough to afford this" has now been pulled from the store by Apple without an explanation given.

Developer Armin Heinrich told the LA Times that he had received no explanation from Apple, however due to all the coverage on off the app, has still managed to flog eight copies before the app was turned off.

The "I am Rich" app is the latest application to be pulled from the App Store following other high profile applications like NetShare that allowed users to share the iPhone 3G's 3G connection with a PC or Mac.