Folded wing tip question

I have a old question, maybe someone can refute, or verify?

I tend to mistrust 'sea-stories' w.o. cites. Sometimes I think
they likely true, probably partly true, or unlikely.
But some good ones stick in my mind, from all categories.

Making the rounds circa 1972 was that a F4 with folding wings
(story was MC, possib. Navy) taxied out (story was at Kadena)
got clearance to take off, hit afterburners and got enough thrust
to take off. Sheesh - wingtips were still folded up. Could only
stay in air with afterburner thrust, had to eject, dumped $4 mil.
plane in East China Sea. True or not? Ever true anywhere
or anytime to anyone??

I have seen (recently sited on s.m.n.) what appears to be a
picture of a plane (A-7?) flying with tips folded, so ???