|
|
|
|
|
12th Ramzanul Mubarak 1436 | Monday, Jun 29, 2015
NRIs Corner

Five Indians among 18 charged with credit card scam in US

Wednesday, 6 February 2013
Comments(0)
New Jersey, February 06:

At least five Indians are among 18 people who have been charged in one of the largest credit card fraud schemes spanning 28 states and eight countries, including India, by US federal prosecutors. The scamsters used over 25,000 fraudulent credit cards.

The accused wired millions of dollars to Pakistan, India, the United Arab Emirates, Canada, Romania, China and Japan leading to losses of more than $200 million, prosecutors said.

"The defendants are part of a massive international fraud enterprise involving thousands of false identities, fraudulent identification documents, doctored credit reports and more than $200 million in confirmed losses," FBI Special Agent James Simpson said in court records.

According to court records, the scheme involved three basic steps: The defendants allegedly created thousands of fake identities, pumped up the credit histories of those fictitious people and then racked up charges on fraudulently obtained credit cards.

The proceeds, authorities said, were used for luxury automobiles, electronics, spa treatments, high-end clothing and millions of dollars in gold. Authorities said the fraudsters also stockpiled large sums of cash and approximately $70,000 in cash was found in one defendant's oven.

Though the scheme targeted credit card companies, Paul Fishman, US Attorney for New Jersey, said customers everywhere could feel the impact.

"Through their greed and their arrogance, the individuals arrested today and their conspirators allegedly harmed not only the credit card issuers, but everyone who deals with increased interest rates and fees because of the money sucked out of the system by criminals acting in fraud rings like this one," Fishman said.

The defendants, including the alleged ringleaders, Babar Qureshi and Muhammad Shafiq, are due to make their initial court appearances before US Magistrate Judge Madeline Cox Arleo in a Newark federal court Wednesday.

Latest News

Stop calling terror group as 'Islamic State': Cameron tells media

British Prime Minister David Cameron has called on the BBC and other media outlets to avoid using th ...

Minor raped in Faridabad

A 15-year-old girl was allegedly raped by a man repeatedly over a period of months, police said today. According to a complaint filed by ...

HC comes down heavily on Property Registra...

Coming down on the functioning of Property Registration Department which did not verify necessary documents during registration, the Madras ...

Related News

India-Bangladesh border most vulnerable to drug smuggling

India has witnessed a five-time (455 percent) increase in drug hauls over three years - 2011 to 2013 ...

Indian student dies in Canada

A 24-year-old Indian student, studying in USA, on Sunday died at Toronto in Canada due to fever, family members said. ...

Bobby Jindal opposes same sex marriage ruling by US Supreme Court

Finding himself at odds with the US Supreme Court over its two landmark judgements upholding healthc ...

Post new comment

To combat spam, please enter the code in the image.

Rs. 26410 (Per 10g)

Opinion Poll
Do you think 'Operation Late Nigt' of the city police should be continued during Ramzan too?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, Telangana, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com