Not as dramatic as that lol, but you will have a C&D order coming your way sooner or later; more likely sooner than later.
Also I have heard it is easy to get ranked for famous people for example Michael Jackson, he gets 16million searches a month even though he is dead last time I looked. But if you look at the first page there all pages like wiki, YouTube, news websites and of course the official Michael Jackson website.
Now these sites are pretty easy to beat and the reason why there isn?t any other Michael Jackson sites there is because the minute they start ranking well you will get MJ's family lawyers on your ass or SONY.
My advice it?s not really worth the hassle, and I would keep well clear of them.
He never said it was a famous name. Most of the time a name isn't trademarked so if you're using YOUR name and it is the same as someone's famous, you shouldn't have trouble using it.
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