|
|
|
|
|
3rd Zulqada 1435 | Saturday, Aug 30, 2014
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

BJP welcomes EC decision directing UP gove...

The president of the Uttar Pradesh unit of the Bharatiya Janata Party (BJP), Laxmikant Bajpai, on Saturday, welcomed the Election Commission ...

Monsoon continues in north India

Several parts of north India received light to moderate monsoon showers although temperatures rose marginally and high humidity levels persi ...

Karmabhoomi Express passengers robbed in UP

Passengers on board Karmabhoomi Express were robbed in the intervening night of Friday and Saturday between Rampur and Bareilly railway stat ...

Related News

Indian American scientist invented e-mail 32 years ago

Know who is the inventor of e-mail? The credit goes to an Indian American V.A. Shiva Ayyadurai who r ...

Indians in Liberia contribute to anti-Ebola campaign

As the Ebola virus disease continues to spread across West Africa, the small, 2000-strong Indian com ...

India seeks Kuwait's help over arrested Indians

India has sought Kuwait's assistance over the arrest of some Indian nationals following a brawl in t ...

Post new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

Rs. 27730 (Per 10g)

Opinion Poll
Do you think KCR would continue celebrating all national events at Golconda Fort beginning from Independence Day?
YesNoCan't say

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

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