There is an excellent movie which makes a similar point. It's called Lorenzo's Oil (Nick Nolte, Susan Sarandon and Peter Ustinov, 1992). A boy has a genetically-caused inability to properly metabolize fats, with the result myelin is stripped away from the nerves, causing nervous system degeneration leading to death over 2 years after diagnosis. The parents research and discover 2 oils which help prevent this degeneration. In this case, when oils related to the condition were restricted in the diet, the body compensated by creating more. Oils, including cholesterol, can be made from sugars, other fats, and proteins. They inhibited the production in the body by giving the boy an oil similar to the oil which the body was over-producing and unable to properly metabolize. The key was that the same enzyme was responsible for using and converting both oils. So they kept the body busy using the non-damaging similar oil so that the damaging oil did not build up in the body, a case of competititve inhibition. The oils involved in ALDH (the boy's degenerative condition) were higher up on the fatty acid chain, but it is interesting to compare the metabolism of these oils with the metabolism of cholesterol.
I think (another poster might KNOW) that competitive inhibition is the principle behind keeping an ideal balance of "healthy cholesterol" and "bad cholesterol." If you have more of the healthy cholesterol, the body will dump the unhealthy cholesterol.