Illegal international credit card ring busted, losses estimated at $200 million

Published: February 6, 2013
Credit cards

A total of 18 people have been arrested in association with a scam that used more than 25,000 fraudulent credit cards. Damien Meyer/AFP/Getty Images

New Jersey, Feb 6 (IANS) A massive credit card scam spanning 28 U.S. states and eight countries, including India, could involve at least five South Asian suspects.

A total of 18 people have been charged by U.S. federal prosecutors in the case, which revolves around the use of more than 25,000 fraudulent credit cards, leading to illegal spending of more than $200 million. The money was wired to locations in Pakistan, India, the United Arab Emirates, Canada, Romania, China and Japan, 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.

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, U.S. 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 U.S. Magistrate Judge Madeline Cox Arleo in a Newark federal court Wednesday.


Tags: , , ,





Featured

PNG_0920N_BARINDER_RASODE_MAYORAL_ANNOUNCEMENT_218072244

Q & A: Surrey mayoral candidate Barinder Rasode discusses upcoming campaign trail

LARISSA CAHUTE VANCOUVER DESI After months of speculation, Surrey city councillor Barinder Rasode finally confirmed her bid for mayor in the upcoming election at a…
Continue Reading »

PNG_0920N_BARINDER_RASODE_MAYORAL_ANNOUNCEMENT_218072376

Barinder Rasode takes aim at crime as she officially announces her bid for Surrey’s mayor

  LARISSA CAHUTE VANCOUVER DESI After months of speculation, Surrey city councillor Barinder Rasode finally confirmed her bid for mayor in the upcoming election at…
Continue Reading »

Sunday September 19 Vancouver Stanley Park

Gear up for the annual Ismaili Walk at Stanley Park this Sunday

VANCOUVER DESI The 23rd annual Ismaili Walk, which fundraises to improve the lives of local women and children, will take place Sunday in Stanley Park….
Continue Reading »

LOCAL NEWS

PNG_0920N_BARINDER_RASODE_MAYORAL_ANNOUNCEMENT_218072244

Q & A: Surrey mayoral candidate Barinder Rasode discusses upcoming campaign trail

LARISSA CAHUTE VANCOUVER DESI After months of speculation, Surrey city councillor Barinder Rasode finally confirmed her bid for mayor in the upcoming election at a…
Continue Reading »

PNG_0920N_BARINDER_RASODE_MAYORAL_ANNOUNCEMENT_218072376

Barinder Rasode takes aim at crime as she officially announces her bid for Surrey’s mayor

  LARISSA CAHUTE VANCOUVER DESI After months of speculation, Surrey city councillor Barinder Rasode finally confirmed her bid for mayor in the upcoming election at…
Continue Reading »

Sunday September 19 Vancouver Stanley Park

Gear up for the annual Ismaili Walk at Stanley Park this Sunday

VANCOUVER DESI The 23rd annual Ismaili Walk, which fundraises to improve the lives of local women and children, will take place Sunday in Stanley Park….
Continue Reading »

Don't Miss...

DEPORTED-PAKISTAN

Rally held in Saskatoon in support of 65-year-old woman deported to Pakistan

THE CANADIAN PRESS SASKATOON — Supporters of a 65-year-old woman who was deported to her native Pakistan earlier this week have held a rally at…
Continue Reading »

Designers-entertainment

Fashion over the years in Bollywood

IMROZ MAUR VANCOUVER DESI Bollywood and Fashion go hand in hand; there is no Bollywood without fashion and there is no fashion without Bollywood. They…
Continue Reading »

fried rat in food

Customer finds fried rat mixed in pakoras at Indian railway snack kiosk

VANCOUVER DESI A snack kiosk at a railway station in Western India has been closed down after a customer found a fried rat mixed in…
Continue Reading »

Vancouver-soccer

‘This isn’t lingerie football’: Vancouver Whitecaps video taken down (w/video)

DAN FUMANO VANCOUVER DESI After some fans and Internet commenters cried foul on a new online video promoting the Vancouver Whitecaps soccer team, club management…
Continue Reading »

Change

Iran sentences ‘Happy’ dancing youths to six months jail, 91 lashes

IANS Tehran – A group of Iranian youths, who released a video on YouTube dancing to the popular song “Happy” by American singer-songwriter Pharrell Williams,…
Continue Reading »


Bollywood Latest

Deepika Padukone

Deepika Padukone: Respect us as women off-screen

IANS Mumbai – Deepika Padukone says she has an issue when people “propagate objectification of a real person and not a character being played” and…
Continue Reading »

Parineeti Chopra-Aditya Roy Kapur

Daawat-e-Ishq: Habib Faisal missed the plot

SUBHASH K. JHA IANS  Film: “Daawat-e-Ishq”; Cast: Aditya Roy Kapoor, Parineeti Chopra and Anupam Kher; Director: Habib Faisal: Rating: ** There are two different films…
Continue Reading »

Vinay Virmani

A fun ride with Dr. Cabbie

Q&A: Canadian actor Vinay Virmani’s new movie continues his examination of South Asian immigrant experience ALMAS MEHERALLY VANCOUVER DESI Toronto-born actor and writer Vinay Virmani…
Continue Reading »