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(AP)   Another sign of the bad economy: drug dealers taking gift cards as payment   (hosted.ap.org) divider line 82
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7999 clicks; posted to Main » on 01 Jan 2009 at 2:36 PM (5 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2009-01-01 01:11:39 PM
Gift cards which were procured by shoplifting and returning without a receipt.
 
2009-01-01 02:38:43 PM
jaylectricity: Gift cards which were procured by shoplifting and returning without a receipt.

I was going into a Target a couple weeks ago and some skanky crack-whorish chick skulking in the parking lot said she had an $85 gift card she would sell for $20. I would have taken her up on it if she would have gone into the store with me to verify the amount but she said she wasn't allowed in there anymore. Ya think?!?
 
2009-01-01 02:41:52 PM
cksewell: jaylectricity: Gift cards which were procured by shoplifting and returning without a receipt.

I was going into a Target a couple weeks ago and some skanky crack-whorish chick skulking in the parking lot said she had an $85 gift card she would sell for $20. I would have taken her up on it if she would have gone into the store with me to verify the amount but she said she wasn't allowed in there anymore. Ya think?!?


why not just call the number on the back of the card to figure that out?
 
2009-01-01 02:42:14 PM
I hate gift cards. I always wind up with a small balance that I never use, essentially giving the store free money. When did cash become so un-cool that we had to replace it with a gift card?
 
2009-01-01 02:42:15 PM
Bruce said officers executed a search warrant at the man's house and seized crack cocaine, Xanax pills, $899 cash and $175 in gift cards. Police say the $175 in gift cards had a street value of $40,000.
 
2009-01-01 02:42:23 PM
jaylectricity: Gift cards which were procured by shoplifting and returning without a receipt.

Shoplifting a gift card that has not been loaded via a cash register transaction would be worthless. More likely they were stolen from a legit customer.
 
2009-01-01 02:42:55 PM
I was debating getting a friend either heroin or crack but I can't decide. Now I know I can get him a gift card and he can purchase the drug he wants.

I just love the convenience of the modern world.
 
2009-01-01 02:43:18 PM
From a "Trying to avoid the law" standpoint, this isn't a bad idea. Having a ton of cash on you is suspicious, and hard to explain away. Having a bunch of gift cards is much easier.
 
2009-01-01 02:44:28 PM
Caulfield: jaylectricity: Gift cards which were procured by shoplifting and returning without a receipt.

Shoplifting a gift card that has not been loaded via a cash register transaction would be worthless. More likely they were stolen from a legit customer.


I think he means shoplifted items were returned without a receipt for store credit on gift cards..
 
2009-01-01 02:44:57 PM
the underground economy goes (semi)high tech...
 
2009-01-01 02:45:44 PM
Somaticasual: Caulfield: jaylectricity: Gift cards which were procured by shoplifting and returning without a receipt.

Shoplifting a gift card that has not been loaded via a cash register transaction would be worthless. More likely they were stolen from a legit customer.

I think he means shoplifted items were returned without a receipt for store credit on gift cards..


Ah, yes. And I also read that retailers had loosened some return policies to hopefully stimulate sales.
 
2009-01-01 02:46:06 PM
thenateman: I hate gift cards. I always wind up with a small balance that I never use, essentially giving the store free money. When did cash become so un-cool that we had to replace it with a gift card?

Because people are stupid.

I gladly accept cash, cheque, money orders, wire transfers and credit cards.

Just no kissing on the lips please.
 
2009-01-01 02:46:14 PM
Gift cards have to be activated to work.

Simply swiping them off the display racks does nothing more than identify you as a shoplifter when you try to use them.

People trying to sell gift cards "at a discount" know this. They are hoping that you do not.
 
2009-01-01 02:47:04 PM
Caulfield: Shoplifting a gift card that has not been loaded via a cash register transaction would be worthless. More likely they were stolen from a legit customer.

More than likely, the person shoplifted something of value and then 'returned' it, receiving the gift card instead of cash because of not having a receipt.
 
2009-01-01 02:48:39 PM
years ago before the stores wised up weren't there stores that listed the gift card number plainly on the gift card? it wasn't hidden under that scratch off stuff so thieves wrote the numbers down and then tried to order stuff online with the number constantly. when the card was finally bought and activated the scammer was first to use it.
 
2009-01-01 02:48:50 PM
Caulfield
jaylectricity: Gift cards which were procured by shoplifting and returning without a receipt.

Shoplifting a gift card that has not been loaded via a cash register transaction would be worthless. More likely they were stolen from a legit customer.


How this works:
Step 1, steal random crap from target (e.g. a toaster)
Step 2, return to target the next day, go to the returns desk and return the toaster. Claim you lost the receipt. Since you have no receipt, they give you a gift card instead of your money "back."
Step 3: Sell/trade the gift card for meth (profit)
 
2009-01-01 02:49:38 PM
deevo: Police say the $175 in gift cards had a street value of $40,000.

i41.photobucket.com
 
2009-01-01 02:50:27 PM
I never give gift cards. I give money instead, for the same amount.

/Works in any store and never expires.
 
2009-01-01 02:53:02 PM
studebaker hoch: I never give gift cards. I give money instead, for the same amount.

I give cocoa samplers. Everybody loves cocoa samplers.
 
2009-01-01 02:54:24 PM
studebaker hoch: I never give gift cards. I give money instead, for the same amount.

/Works in any store and never expires.


Here in CT, by law gift cards cannot expire.
 
2009-01-01 02:54:34 PM
Actually, this is a sign of economic recovery. Gift cards are nothing but corporate debt instruments; bonds with a 0% interest rate. Given the risk of corporate default (or in the case of gift cards, the store only selling crap you don't want and ending up with a balance on the card), drug dealers previously never held these instruments.

Now, it's too soon to predict whether the crisis is over; as we don't know a few substantial details. For example, what was the rate at which the drug dealer accepted the card (to calculate yield) and of course, does the drug dealer hold any credit default swaps against the shops, and are they AAA rated.. Nevertheless, it's a hopeful sign! A couple of years ago, you'd only see drug dealers accepting T-bills and FEMA cards..
 
2009-01-01 02:55:34 PM
i wonder if they will take my Kay Bee toys, Linens 'n Things or Sharper Image gift cards :)
 
2009-01-01 02:55:35 PM
FarkinFarker: deevo: Police say the $175 in gift cards had a street value of $40,000.

I know I'm a little muzzy today, but I don't understand those figures. What do they mean by "$175 in gift cards"? That they're really worth that? Or are they really worth $40K?
 
2009-01-01 02:56:42 PM
Or, being post xmas, maybe he'd got them as presents from his crackhead granny?

Scary tag confuses me here. Gift cards are money. Crack is a product. Right?
 
2009-01-01 02:58:27 PM
Sylvia_Bandersnatch: FarkinFarker: deevo: Police say the $175 in gift cards had a street value of $40,000.

I know I'm a little muzzy today, but I don't understand those figures. What do they mean by "$175 in gift cards"? That they're really worth that? Or are they really worth $40K?


the $40k part was a clever addition by a clever farker
 
2009-01-01 02:58:33 PM
Aarontology:

Here in CT, by law gift cards cannot expire.


they can if the issuing store goes under, which is happening a lot recently.

For example KB toys cards are worthless as of midnight last night.
 
2009-01-01 02:58:51 PM
If someone trys to sell you a gift card "at a discount", all you need do, is call the number on the back, and it will tell you how much the card is good for.

Also, often times, even people who buy drugs get Christmas presents from their families, and sometimes, it's gift cards.

There are no names attached to a gift card. I (seriously) found a HESS gift card in a parking lot about 6 weeks ago.
I though it was just a used up one that someone through away, but shoved it in my pocket anyway.

I called the number when I got home, and it turned out to be worth $50. WooHoo.
 
2009-01-01 02:58:54 PM
Stores love gift cards, because they bring something like a 100% increase in their value. People never take a $50 gift card into Best Buy and only spend $50. They wind up spending $100. Or $200.

Usually. This is Fark, I know, so I'm waiting for all the "I'm far too successful to fall into that trap!" folks to show up.
 
2009-01-01 02:59:07 PM
moof: Actually, this is a sign of economic recovery. Gift cards are nothing but corporate debt instruments; bonds with a 0% interest rate. Given the risk of corporate default (or in the case of gift cards, the store only selling crap you don't want and ending up with a balance on the card), drug dealers previously never held these instruments.

Now, it's too soon to predict whether the crisis is over; as we don't know a few substantial details. For example, what was the rate at which the drug dealer accepted the card (to calculate yield) and of course, does the drug dealer hold any credit default swaps against the shops, and are they AAA rated.. Nevertheless, it's a hopeful sign! A couple of years ago, you'd only see drug dealers accepting T-bills and FEMA cards..


FEMA is full of deadbeats. No one will take that card.
 
2009-01-01 03:00:41 PM
Caulfield: Somaticasual: Caulfield: jaylectricity: Gift cards which were procured by shoplifting and returning without a receipt.

Shoplifting a gift card that has not been loaded via a cash register transaction would be worthless. More likely they were stolen from a legit customer.

I think he means shoplifted items were returned without a receipt for store credit on gift cards..

Ah, yes. And I also read that retailers had loosened some return policies to hopefully stimulate sales.


That would make sense from an efficiency perspective. I'd imagine the lines since the 26th have been pretty long, having worked in retail. It tends to be the most beauracratic process involved.. We did have a LOT of false returns though, but most couldn't be verified so we had to give them store credit anyhow.
 
2009-01-01 03:04:09 PM
harlock_jds: Aarontology:

Here in CT, by law gift cards cannot expire.

they can if the issuing store goes under, which is happening a lot recently.

For example KB toys cards are worthless as of midnight last night.


Well, yeah. But that's a bit different than a store saying "Oh, it's been six months so you're card won't work. We'll just take the $50"

I'm still bummed about KB going under. They always had a good selection of games and action figures.
 
2009-01-01 03:10:33 PM
deevo: Bruce said officers executed a search warrant at the man's house and seized crack cocaine, Xanax pills, $899 cash and $175 in gift cards. Police say the $175 in gift cards had a street value of $40,000.

Nice work!!
 
2009-01-01 03:17:12 PM
Crackheads can be clever. Swiping a handful of un-activated or picking up clean-lookin' used ones sound like good props. As the whole "who cares how the 11% gets made" Madoff con scam shows, greed and good deals make people act a little stupid.

An otherwise smart person may indeed pay $20 for a blank, the only reason being the story of the seller convincing the buyer a return value exceeding the price.

I bet part of the effectiveness is people recalling stories of crackheads selling VCRs. They evolve too. Like make laptops out of cardboard. Or sell gift cards.

/there's one born every minute
//desperation for a deal *cough* recession should make for wealth re-distribution har har
 
2009-01-01 03:20:33 PM
Alice: A gift certificate is completely different from cash.
Dilbert: No, it's not. They're both pieces of paper you can exchange for goods and services.
Alice: You're missing the point.
Dilbert: Actually, a gift certificate is worse than cash, because you can only use it in one place.
Wally: And it expires.
Alice: At least it shows some thought.
Dilbert: It shows defective thought. You're trading perfectly good money for something that does the same thing, only not as well.
 
2009-01-01 03:21:09 PM
A drug dealer friend of mine once took a $600 check for drugs. It didn't bounce either.
 
2009-01-01 03:24:26 PM
cksewell: I was going into a Target a couple weeks ago and some skanky crack-whorish chick skulking in the parking lot said she had an $85 gift card she would sell for $20. I would have taken her up on it if she would have gone into the store with me to verify the amount but she said she wasn't allowed in there anymore. Ya think?!?

Providing her with a plausible excuse of why the card cannot be verified. Because if she gives it to you to "verify" inside the store, she'll never see you again. Unless you can manage to con an actual gift card off the crack whore this way, and if so, well bra-vo.
 
2009-01-01 03:25:35 PM
As somebody very close to a recovering addict, one of the reasons that people use gift cards to buy drugs comes from stealing credit and debit cards. Gift cards are the closest thing to cash you can get without knowing the PIN.
 
2009-01-01 03:25:39 PM
Are they taking them for up front value? 50% value(like food stamps) some other value?

These things are important.
 
2009-01-01 03:25:58 PM
Oznog: cksewell: I was going into a Target a couple weeks ago and some skanky crack-whorish chick skulking in the parking lot said she had an $85 gift card she would sell for $20. I would have taken her up on it if she would have gone into the store with me to verify the amount but she said she wasn't allowed in there anymore. Ya think?!?

Providing her with a plausible excuse of why the card cannot be verified. Because if she gives it to you to "verify" inside the store, she'll never see you again. Unless you can manage to con an actual gift card off the crack whore this way, and if so, well bra-vo.


All you have to do to verify it, is to call the number on the back.
 
2009-01-01 03:26:18 PM
The exchange of cash to gift cards and back again is also a way they launder the money.
 
2009-01-01 03:29:29 PM
Dihnekis: A drug dealer friend of mine once took a $600 check for drugs. It didn't bounce either.

Hmmm, is your friend's name Dwayne?
 
2009-01-01 03:29:53 PM
nytmare: The exchange of cash to gift cards and back again is also a way they launder the money.

No it's not. Do you know how long it would take to lauder any appreciable amount of money that way? And you'd be damned lucky to only get 80%.

Also, you're pulling an awful amount of exposure, and it's only a matter of time before someone reports your "suspicious behavior.
 
2009-01-01 03:32:58 PM
How much meth will my GM shares get me?
 
2009-01-01 03:35:15 PM
Aarontology: studebaker hoch: I never give gift cards. I give money instead, for the same amount.

/Works in any store and never expires.

Here in CT, by law gift cards cannot expire.


That's all well and good for my home state, as long as the companies themselves don't expire. That Circuit City card? Worthless.
 
2009-01-01 03:36:29 PM
rollersnake: Caulfield: Shoplifting a gift card that has not been loaded via a cash register transaction would be worthless. More likely they were stolen from a legit customer.

More than likely, the person shoplifted something of value and then 'returned' it, receiving the gift card instead of cash because of not having a receipt.


Or even better... buy something you can sell, steal another of the same item. Sell one, return the other. You have a receipt. Sure, you will take a loss on the purchased item, but you will get the item's value from the receipted return.
/clearance bins for old, popular, used video games can get you $15 in an hour
//I haven't done this
///just knew some people that I would only hang out with if they matched on beer
 
2009-01-01 03:38:23 PM
thenateman: I hate gift cards. I always wind up with a small balance that I never use, essentially giving the store free money. When did cash become so un-cool that we had to replace it with a gift card?

I'm VERY surprised that no one has mentioned that the stores cannot legally claim the money made on gift cards until the gift cards is used. If you end up with a small amount, the store can't report that they got it in the first place.

/I'm ashamed, Farkers and Farkettes.
 
2009-01-01 03:41:51 PM
Sylvia_Bandersnatch: FarkinFarker: deevo: Police say the $175 in gift cards had a street value of $40,000.

I know I'm a little muzzy today, but I don't understand those figures. What do they mean by "$175 in gift cards"? That they're really worth that? Or are they really worth $40K?


Typically when cops seize drugs they overinflate the "street value" of the drugs. Typically, a gram of marijuana sells for around $5-$10, an 1/8 oz. sells for $20-$60, an Ounce sells for $120-$200, and a pound for $1500-$3000. When cops seize say, 2lbs of Marijuana, the street value, rather than state the large-quantity value, of say $3,000-$6,000, they will claim the gram value (453g per pound) ~$4,500-$9,000. Even more often, they will further up it to $7,500-$15,000.

[Insert "THE MORE YOU KNOW" banner]
 
2009-01-01 03:45:41 PM
Oznog: cksewell: I was going into a Target a couple weeks ago and some skanky crack-whorish chick skulking in the parking lot said she had an $85 gift card she would sell for $20. I would have taken her up on it if she would have gone into the store with me to verify the amount but she said she wasn't allowed in there anymore. Ya think?!?

Providing her with a plausible excuse of why the card cannot be verified. Because if she gives it to you to "verify" inside the store, she'll never see you again. Unless you can manage to con an actual gift card off the crack whore this way, and if so, well bra-vo.

TommyymmoT: All you have to do to verify it, is to call the number on the back.


Unless they forged a card, with the number of an accomplice on the back. Although if they could figure this out, they might move on to another career beyond crack whoring.

A bunch of con artists have played this scam with lotto tickets. Actually I think most of them would look at the number on the ticket, dial their associate on the cell phone instead, then hand the phone to you. Because making up an entire forged ticket is so much work.
 
2009-01-01 03:45:56 PM
Oznog
Alice: A gift certificate is completely different from cash.
Dilbert: No, it's not. They're both pieces of paper you can exchange for goods and services.
Alice: You're missing the point.
Dilbert: Actually, a gift certificate is worse than cash, because you can only use it in one place.
Wally: And it expires.
Alice: At least it shows some thought.
Dilbert: It shows defective thought. You're trading perfectly good money for something that does the same thing, only not as well.


I'm going to need the cartoonage to properly understand that.
/Still drunk
 
2009-01-01 03:50:54 PM
For things you can afford, there's cash.
For everything else, there's Mastercard.
 
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