“This type of fraud increases the costs of doing business for every American consumer, every day,” U.S. Magistrate Judge Madeline Cox Arleo in Newark federal court. The defendants are scheduled to appear later today before U.S.

All of the defendants are charged with one count of bank fraud. Postal Inspection Service arrested 13 defendants and searched 13 locations in New Jersey, New York, Pennsylvania, and Connecticut. This morning, hundreds of law enforcement officers from the FBI and the U.S. They would then borrow or spend as much as they could based on their fraudulently obtained credit history and not repay the debts, looting businesses and financial institutions of more than $200 million in confirmed losses. The defendants charged in the Complaint allegedly fabricated identities to obtain credits cards and doctored credit reports to pump up the spending and borrowing power associated with the cards. The activity described in a Complaint unsealed today describes a sprawling criminal enterprise that stretched across dozens of states and numerous countries. – Federal agents in four states arrested 13 people today for allegedly creating thousands of phony identities to steal at least $200 million in one of the largest credit card fraud schemes ever charged by the Department of Justice, U.S. Crime Ring Invented 7,000 Fake Identities to Obtain Tens of Thousands of Credit Cards

$200 social security increase