NEWARK, New Jersey—Eighteen people were charged in what may be one of the largest credit card fraud rings in the US, a sprawling international scam that duped credit-rating agencies and used thousands of fake identities to steal at least $200 million, federal authorities said Tuesday. The elaborate scheme involved improving fake cardholders' credit scores, allowing the scammers to borrow more money that they never repaid, investigators said. "In many respects the accused availed themselves of a virtual cafeteria of sophisticated frauds and schemes, whose main menu items were greed and deceit," said David Velazquez, assistant special agent in charge of the ...
Keep on reading: US: 18 charged in $200M global credit card fraud
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