18 Charged in $200 Million Credit Card Fraud Scheme

Serving Los Angeles, Riverside, Ventura, San Bernardino Counties & Nearby Areas of California

Federal prosecutors in New Jersey have brought charges against 18 people in what is being called one of the largest credit card fraud schemes ever discovered by the U.S. Department of Justice (DOJ). According to a report from ABC News, the scheme spanned 28 states and eight countries, resulting in more than $200 million in losses. Investigators discovered that the scheme involved three steps. First, the suspects created thousands of fake identities by making fake driver’s licenses and utility bills. Second, they created false credit histories through doctored credit reports for the fake identities. Third, they racked up charges on the credit cards they had wrongfully received. In total, more than 25,000 fraudulent credit cards were used in the scheme. The funds gained during the scam were used for spa treatments, pricy clothing, electronics, luxury automobiles, and millions of dollars in gold. Additionally, large amounts of cash were stockpiled in the homes of the suspects. Law enforcement officers completed searches of 13 locations found in New York, New Jersey, Pennsylvania, and Connecticut. If convicted of their crimes, each defendant could be sentenced to a maximum of 30 years in prison. Officials stated that while the scam targeted businesses and credit companies, the losses were so large that consumers may also be affected. If you have suffered financial losses due to the wrongful actions of another, you have the right to recover your money. Santa Monica credit damage attorney Howard D. Silver has dedicated his skills and resources to the well being of each client he serves. Call the Law Offices of Howard D. Silver at (855) 341-2611 to learn more about how he can help you regain the finances you have lost.

Posted Date: 
Wednesday, February 18, 2015