FBI arrests dozens in raid on massive N.J. bank-fraud ring

[maddezmom]

Source: NJ.com

FBI agents swept across New Jersey this morning and arrested roughly 50 alleged members of a massive bank-fraud ring that authorities say hijacked identities of Asian immigrants to bilk financial institutions.

Authorities say members of the ring used Social Security numbers from legal immigrants who worked in American territories, including Guam, to apply for driver’s licenses under fake names, which they then utilized to secure credit cards.

The suspects used those credit cards to buy luxury cars, designer shoes, aged whiskey and other finery, authorities said. Or, members of the ring swiped the cards at their own businesses or shell companies to trick banks into transmitting them money directly, authorities said.

When time came to pay the credit-card bills, the banks were left with the name of someone on the other side of the globe, authorities said.


Read more: http://www.nj.com/news/index.ssf/2010/09/federal_officials_arrest_more.html

[Sherman A1]

1. There is a special place in

the world of Dante for these people.

[Possumpoint]

2. Yes

It's called the Republican Party.

[SpiralHawk]

3. "Smirk." - Typical Republicon Family Values Cronies

http://www.city-data.com/forum/attachments/northeastern-pennsylvania/41760d1242675666-scranton-mayoral-debate-what-disaster-cronies.bmp