Sorry to hear that you have done a mistake before buying old high pr domain.Maximum people who sell pr domain name they do a 301 redirect their site to another well contented site for search engine bot. Your bought domain has redirected to this domain.
And before buying a pr domain you should must see the back links of that domain.A pr 4 domain must need around 200 above backlinks but your domain has no back link.
However i am not sure what can you do with this domain now.But you can give a try to sell that on flippa or any other domain name selling and buying platform showing this pr 4 without changing redirect.
Sucks to hear people actually scam..
You could make an autoblog or associate an url shortener/temporary mailer with it? (I think temporary mailers are less saturated)
now I have another question. Fake PR become VALID PR but without backlinks.
I start to make BL for this domain that PR don't drop. That I use scapebox for it?
How much BL's I need for PR 4.
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