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(Yahoo)   Over the past 5 years, 18 people meticulously built up pristine credit by using bogus social security numbers and identity theft. They finally cashed out to the tune of $200 million before getting caught   (finance.yahoo.com) divider line 72
    More: Interesting, credit card fraud, 28th state, credit bureaus, credit cards, credit limits, Paul Fishman  
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14432 clicks; posted to Main » on 11 Feb 2013 at 9:45 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-11 09:53:58 AM
Ocean's 18
 
2013-02-11 09:54:59 AM
interesting that they caught the ringleader right as he was boarding a flight to leave the country.
just like in the movies - which always seems so contrived.
 
2013-02-11 09:56:43 AM
I thought they cancelled Weeds....
 
2013-02-11 09:57:15 AM

tenpoundsofcheese: interesting that they caught the ringleader right as he was boarding a flight to leave the country.
just like in the movies - which always seems so contrived.


To Pakistan?  I haven't seen that one yet.

Anyways, it makes sense.  They are the most intensive security areas.
 
2013-02-11 09:57:19 AM
FTFA: Fishman said some of the defendants didn't have jobs and spent their time perpetrating the fraud.

Those people did have a job, their job was ripping off the banks.
 
2013-02-11 09:57:39 AM
The banks get a tax write off for the poorly invested/stolen money? No wonder they don't care.

FTFA: "Pascual said it would be very unlikely for credit bureaus would have caught a fraud like this if the cards were initially being used responsibly and paid off. Red flags also would not have been raised if accounts were opened using legitimate social security numbers that did not have any prior credit accounts, like a child."

A child opening a 50k line of credit isn't a red flag? Seriously?
 
2013-02-11 09:59:45 AM

thecpt: Anyways, it makes sense. They are the most intensive security areas


That is why you drive to Canada then fly to Pakistan.
 
2013-02-11 10:00:12 AM
<i>Authorities found $68,000 in an oven during a raid.  </i>

They must have been making bread..

<b>*puts on glasses*</b>

That's a lot of dough to find in an oven.

YEEEEEEEEAAAAA*cough cough hack spit..

/I don't think I'm doing it right
 
2013-02-11 10:00:26 AM

tenpoundsofcheese: interesting that they caught the ringleader right as he was boarding a flight to leave the country.
just like in the movies - which always seems so contrived.


That's because you're looking at it backward.  It's kind of like the "last place you look"; only an idiot keeps looking after they find something.  Same here, I'd expect these kind of cases simmer for a while before something triggers the arrest.  I'd expect plenty to resolve by just building a case and gathering enough evidence, but I'd also expect a significant portion in which the trigger for the arrest is the suspect fleeing.
 
2013-02-11 10:06:07 AM

boarch: The banks get a tax write off for the poorly invested/stolen money? No wonder they don't care.


writing off a bad investment does not mean that you are indifferent as to whether or not you get the money back.

the bad investments are one reason why interest rates are so high for borrowing.
 
2013-02-11 10:10:15 AM
All the great things happen in New Jersey.
 
2013-02-11 10:13:22 AM
"WON'T SOMEONE THINK OF THE POOR CREDIT CARD COMPANIES????!?"
 
2013-02-11 10:14:22 AM
This just screwed the banks so who cares, they get reimbursed by the congress or FRB.  Seems like a good business model, the right staff, patience, and hard work.  If only I could find 17 other people willing to work with such dedication.
 
2013-02-11 10:14:33 AM
Now the question is, did they make enough to keep themselves out of prison and keep their loot?
 
2013-02-11 10:14:50 AM
hackers get jobs with the NSA, maybe they should get these folks set up with the Fed.

/catch me if you can
 
2013-02-11 10:15:27 AM

boarch: The banks get a tax write off for the poorly invested/stolen money? No wonder they don't care.

FTFA: "Pascual said it would be very unlikely for credit bureaus would have caught a fraud like this if the cards were initially being used responsibly and paid off. Red flags also would not have been raised if accounts were opened using legitimate social security numbers that did not have any prior credit accounts, like a child."

A child opening a 50k line of credit isn't a red flag? Seriously?


Government doesn't share SSN info, just that it is valid.
 
2013-02-11 10:16:33 AM

generallyso: Now the question is, did they make enough to keep themselves out of prison and keep their loot?



No, they only let you stay out of prison and keep your money if you're part of the corrupt upper class. You know -- bankers, CEOs...that sort of criminal.

If you're a bootstrappy, hard working criminal who had to move up on your own, they take all of your money, and lock you up for a long, long time.
 
2013-02-11 10:16:54 AM

Fizpez: "WON'T SOMEONE THINK OF THE POOR CREDIT CARD COMPANIES????!?"


Won't somebody think of the poor cardholders who are going to get bent over just a little further to make up for all of this.

sulco: <i>Authorities found $68,000 in an oven during a raid.  </i>

They must have been making bread..

<b>*puts on glasses*</b>

That's a lot of dough to find in an oven.

YEEEEEEEEAAAAA*cough cough hack spit..

/I don't think I'm doing it right


You, sir, are you doing it so VERY right.
 
2013-02-11 10:24:14 AM

Fizpez: "WON'T SOMEONE THINK OF THE POOR CREDIT CARD COMPANIES????!?"


Yes, they are just going to eat the loss... In no way will they increase fees and rates on cardholders to make up the loss.
 
2013-02-11 10:37:19 AM
To set up and operate that many identities, cards and accounts would be a shiatload of work. They almost deserve to get away with it, really.
 
2013-02-11 10:40:44 AM
I would bet money they're of eastern European origin (gypsy). We're having a hell of time in Canada right now with credit and welfare fraud because of Hungarian gypsies coming to Canada on fake visas and immediately setting up crime syndicates. The sh*t thing is we catch them, shut them down but Hungary won't allow them back into the country after we try and deport them. I f*cking hate gypsies.
 
2013-02-11 10:45:17 AM

indarwinsshadow: I would bet money they're of eastern European origin (gypsy). We're having a hell of time in Canada right now with credit and welfare fraud because of Hungarian gypsies coming to Canada on fake visas and immediately setting up crime syndicates. The sh*t thing is we catch them, shut them down but Hungary won't allow them back into the country after we try and deport them. I f*cking hate gypsies.


Just recruit Liam Neeson already.
 
2013-02-11 10:49:18 AM

indarwinsshadow: I would bet money they're of eastern European origin (gypsy). We're having a hell of time in Canada right now with credit and welfare fraud because of Hungarian gypsies coming to Canada on fake visas and immediately setting up crime syndicates. The sh*t thing is we catch them, shut them down but Hungary won't allow them back into the country after we try and deport them. I f*cking hate gypsies.


So shove them out of the plane over the Atlantic.

/all I really know about gypsies is from the ex watching that gypsy wedding show
//I know more than enough to know I don't like them
 
2013-02-11 10:52:29 AM

thecpt: indarwinsshadow: I would bet money they're of eastern European origin (gypsy). We're having a hell of time in Canada right now with credit and welfare fraud because of Hungarian gypsies coming to Canada on fake visas and immediately setting up crime syndicates. The sh*t thing is we catch them, shut them down but Hungary won't allow them back into the country after we try and deport them. I f*cking hate gypsies.

Just recruit Liam Neeson already.


3.bp.blogspot.com

Cutting them up with a lightsabre seems a tad harsh. Ahhh. What the hell. Go for it Liam.
 
2013-02-11 10:58:37 AM

liam76: thecpt: Anyways, it makes sense. They are the most intensive security areas

That is why you drive to Canada then fly to Pakistan.


No, a real pro would drive to Mexico.
 
2013-02-11 10:58:59 AM

indarwinsshadow: Cutting them up with a lightsabre seems a tad harsh. Ahhh. What the hell. Go for it Liam.


Oh, no.  Tell him they took his daughter.  You'll be in the clear buddy.

currenteditorials.files.wordpress.com
 
2013-02-11 11:04:44 AM
www.addictinginfo.org
 
2013-02-11 11:17:05 AM
I have pretty good credit. I have wondered on occasion what if I were to open like 200 credit card accounts, fly to another country, max them all out on cash advances then declare bankruptcy in the US and spend the next seven years sipping beers on the beach while my credit is wiped clean. It's certainly possible the card companies would get suspicious and block your transactions before you maxed them all out but even if they did so what? Worst case scenario you just pay them off using the cash you withdrew and fly home. You'd be out a few grand in fees and broke no laws.
 
2013-02-11 11:17:08 AM
Wasn't this an episode of The Unusuals?

www.tvgasm.com
 
2013-02-11 11:18:55 AM

Tom_Slick: FTFA: Fishman said some of the defendants didn't have jobs and spent their time perpetrating the fraud.

Those people did have a job, their job was ripping off the banks.


But a job is something that someone will pay you to do because he doesn't want to do it himself!
 
2013-02-11 11:26:34 AM
Man, those poor, poor banks. How will they make record profits this quarter?
 
2013-02-11 11:28:20 AM
This scam works because banks are overly reliant on that magical social security number to determine who someone is and that magical "credit score" number to determine if someone is credit worthy.

If banks were smarter and smaller and went back to knowing their customers personally, this scam wouldn't be possible. These scammers use the business's greatest weakness against them.
 
2013-02-11 11:31:10 AM

Glancing Blow: This just screwed the banks so who cares, they get reimbursed by the congress or FRB.  Seems like a good business model, the right staff, patience, and hard work.  If only I could find 17 other people willing to work with such dedication.


You might choose to care - thaw lost $200m will be coming back in higher fees for all other customers. Banks don't like their profits to be dented.

I'm just surprised the gang got as far as they did. A conspiracy of 18 and nobody snitched or took their share of the loot early?
 
2013-02-11 11:35:17 AM

indarwinsshadow: I would bet money they're of eastern European origin (gypsy). We're having a hell of time in Canada right now with credit and welfare fraud because of Hungarian gypsies coming to Canada on fake visas and immediately setting up crime syndicates. The sh*t thing is we catch them, shut them down but Hungary won't allow them back into the country after we try and deport them. I f*cking hate gypsies.


Finally, someone who shares my "supposedly irrational" hatred of these ... "people."
 
2013-02-11 11:50:11 AM

Naesen: indarwinsshadow: I would bet money they're of eastern European origin (gypsy). We're having a hell of time in Canada right now with credit and welfare fraud because of Hungarian gypsies coming to Canada on fake visas and immediately setting up crime syndicates. The sh*t thing is we catch them, shut them down but Hungary won't allow them back into the country after we try and deport them. I f*cking hate gypsies.

Finally, someone who shares my "supposedly irrational" hatred of these ... "people."


It's not irrational in the slightest. They're a crime syndicate. There's no guess work involved. They see North America as a new opportunity and they know they can play against guilt. I don't have a problem with any group or people moving to Canada for legitimate reasons. I do have a problem when they come to exploit the system. And that's what a lot of gypsies do. They even admit how lax our criminal system is when dealing with these organized theives. I know our governemt has brought in some new legislation recently to start to deal with the problem, but we lack co-operation from Hungary. It doesn't help. They don't want them either so they're shipping them here as fast as they can. Go to youtube and type "gypsies stealing ". 1,230 videos of these assholes openly stealing.
 
2013-02-11 11:54:28 AM
FTA: "It's been around forever,"

And on the 5.78th day, God created the Credit Card Scam.
 
2013-02-11 11:54:29 AM

Glancing Blow: This just screwed the banks so who cares, they get reimbursed by the congress or FRB.  Seems like a good business model, the right staff, patience, and hard work.  If only I could find 17 other people willing to work with such dedication.


Count me in.
 
2013-02-11 11:56:58 AM
Amateurs...

images.businessweek.com

ffbsccn.files.wordpress.com
 
2013-02-11 12:02:35 PM
www.releasedonkey.com
Suspected ringleader
 
2013-02-11 12:16:53 PM
Naesen

indarwinsshadow: I would bet money they're of eastern European origin (gypsy). We're having a hell of time in Canada right now with credit and welfare fraud because of Hungarian gypsies coming to Canada on fake visas and immediately setting up crime syndicates. The sh*t thing is we catch them, shut them down but Hungary won't allow them back into the country after we try and deport them. I f*cking hate gypsies.

Finally, someone who shares my "supposedly irrational" hatred of these ... "people."


There is an ethnic `group' `gypsies' and then there are, what I refer to as, `hot-tar gypsies', this is much more inclusive and swimming in that bucket of steaming, stink bob both the `fellas' that charge one's grandmother $20,000, upfront, to put on a new roof and asphalt the driveway (leaving a mess and nothing more after one day's `work'), as well as Lloyd Blankfein's `fellas' selling some `Timberwolf' to bolster her pension fund.
 
2013-02-11 12:19:42 PM

indarwinsshadow: Naesen: indarwinsshadow: I would bet money they're of eastern European origin (gypsy). We're having a hell of time in Canada right now with credit and welfare fraud because of Hungarian gypsies coming to Canada on fake visas and immediately setting up crime syndicates. The sh*t thing is we catch them, shut them down but Hungary won't allow them back into the country after we try and deport them. I f*cking hate gypsies.

Finally, someone who shares my "supposedly irrational" hatred of these ... "people."

It's not irrational in the slightest. They're a crime syndicate. There's no guess work involved. They see North America as a new opportunity and they know they can play against guilt. I don't have a problem with any group or people moving to Canada for legitimate reasons. I do have a problem when they come to exploit the system. And that's what a lot of gypsies do. They even admit how lax our criminal system is when dealing with these organized theives. I know our governemt has brought in some new legislation recently to start to deal with the problem, but we lack co-operation from Hungary. It doesn't help. They don't want them either so they're shipping them here as fast as they can. Go to youtube and type "gypsies stealing ". 1,230 videos of these assholes openly stealing.


I was in Paris when I was 16. Crowded around the Eiffel Tower there were gypsy women who were all collectively begging for money around the tourists. Of course you'd see children run through the crowds, which meant they were all pickpocketing.
Now, I might have been young, and this was my first ever experience with Gypsies and my first (and last) time I'll ever be in Paris, but I saw exactly what was going on. Walking by, they knew I was American.

"Excuse me, sir, can you help? I need money as I lost my husband in the war." She was about 23. I stuffed my hand into my wallet pocket and decided to bite.

"Really? How unfortunate. Which war?"
"The war, sir. The one we're in."
"...World War 2...?"
"Yes, That one, sir!"
"...You know that ended way before you were born, right?"

At this point, her demeanor changed to anger, and all of her gypsy "sisters" on her sides began to pay attention.

"How dare you! I need money!"

Remember, I'm sixteen, she's about 23. She's pulling the "indignant woman" card, which only made me laugh harder on the inside.

"Right! Right, I get that, but maybe you've just got the war wrong through translation. It's cool. By any chance is it the Iraq war that we're in right now?" (We as in America...)

"Yes! Yes, that one sir!"

"...France is not involved in that war, and has therefore suffered next to 0 casualties as the result. You and your friends here are all saying the same thing, which either means he was a polygamist, or you are all lying."

It was then it began. All of them, in their gypsy garb (consisting of what looked like bedsheets and curtains from IKEA) started flailing around and loudly babbling in Gypsitounge (which is like Parseltounge, but instead of snakes it's for foul creatures like Gypsies). I began laughing, and walked away, assuming that I've probably been hit with thousands of years worth of "Gypsy curses." Didn't care, because as soon as they collectively lost their minds, the cops came by and rounded them all up into a "paddywagon" and carted them off.
 
2013-02-11 12:26:17 PM

boarch: The banks get a tax write off for the poorly invested/stolen money? No wonder they don't care.


You have to remember that it's only a deduction.  Assuming it's a big bank, their marginal tax rate would be 35%, so they'd only get a cut of about a third of the actual losses.

A child opening a 50k line of credit isn't a red flag? Seriously?

For some reason there's no easy way to determine age solely from a SSN.

Naesen: Finally, someone who shares my "supposedly irrational" hatred of these ... "people."


It's not their ethnicity.  It's not their race.  It's their culture that clashes with ours, in such a way that we *can't* tolerate it.

It's one thing for a culture to have a 'funny' hair style, different food(heck, we enjoy that), variations on their holidays, etc...  It's quite another to have a culture that embraces things like 'honor killings'(Arabs and others), 'Female circumcision'(Africa), and 'theft'(Gypsies).
 
2013-02-11 12:28:35 PM

Firethorn: It's one thing for a culture to have a 'funny' hair style, different food(heck, we enjoy that), variations on their holidays, etc... It's quite another to have a culture that embraces things like 'honor killings'(Arabs and others), 'Female circumcision'(Africa), and 'theft'(Gypsies).


At least we still have one thing we can all agree on though: Rape.
 
2013-02-11 12:30:43 PM

Firethorn: boarch: The banks get a tax write off for the poorly invested/stolen money? No wonder they don't care.

You have to remember that it's only a deduction.  Assuming it's a big bank, their marginal tax rate would be 35%, so they'd only get a cut of about a third of the actual losses.

A child opening a 50k line of credit isn't a red flag? Seriously?

For some reason there's no easy way to determine age solely from a SSN.

Naesen: Finally, someone who shares my "supposedly irrational" hatred of these ... "people."

It's not their ethnicity.  It's not their race.  It's their culture that clashes with ours, in such a way that we *can't* tolerate it.

It's one thing for a culture to have a 'funny' hair style, different food(heck, we enjoy that), variations on their holidays, etc...  It's quite another to have a culture that embraces things like 'honor killings'(Arabs and others), 'Female circumcision'(Africa), and 'theft'(Gypsies).


Agreed. Objectively, they look like normal people you could find anywhere on planet Earth. Some of them dress a little funny, but that's subjective. But then once you see them in action, your blood begins to boil.
 
2013-02-11 12:51:58 PM

Naesen: indarwinsshadow: Naesen: indarwinsshadow: I would bet money they're of eastern European origin (gypsy). We're having a hell of time in Canada right now with credit and welfare fraud because of Hungarian gypsies coming to Canada on fake visas and immediately setting up crime syndicates. The sh*t thing is we catch them, shut them down but Hungary won't allow them back into the country after we try and deport them. I f*cking hate gypsies.

Finally, someone who shares my "supposedly irrational" hatred of these ... "people."

It's not irrational in the slightest. They're a crime syndicate. There's no guess work involved. They see North America as a new opportunity and they know they can play against guilt. I don't have a problem with any group or people moving to Canada for legitimate reasons. I do have a problem when they come to exploit the system. And that's what a lot of gypsies do. They even admit how lax our criminal system is when dealing with these organized theives. I know our governemt has brought in some new legislation recently to start to deal with the problem, but we lack co-operation from Hungary. It doesn't help. They don't want them either so they're shipping them here as fast as they can. Go to youtube and type "gypsies stealing ". 1,230 videos of these assholes openly stealing.

I was in Paris when I was 16. Crowded around the Eiffel Tower there were gypsy women who were all collectively begging for money around the tourists. Of course you'd see children run through the crowds, which meant they were all pickpocketing.
Now, I might have been young, and this was my first ever experience with Gypsies and my first (and last) time I'll ever be in Paris, but I saw exactly what was going on. Walking by, they knew I was American.

"Excuse me, sir, can you help? I need money as I lost my husband in the war." She was about 23. I stuffed my hand into my wallet pocket and decided to bite.

"Really? How unfortunate. Which war?"
"The war, sir. The one we're in."
".. ...


Not that I'd like to defend Gypsies, but your story reeks of urban legend.
 
2013-02-11 12:53:15 PM
Brilliant!

except for that getting caught part.
 
2013-02-11 12:54:53 PM

ThePastafarian: Naesen: indarwinsshadow: Naesen: indarwinsshadow: I would bet money they're of eastern European origin (gypsy). We're having a hell of time in Canada right now with credit and welfare fraud because of Hungarian gypsies coming to Canada on fake visas and immediately setting up crime syndicates. The sh*t thing is we catch them, shut them down but Hungary won't allow them back into the country after we try and deport them. I f*cking hate gypsies.

Finally, someone who shares my "supposedly irrational" hatred of these ... "people."

It's not irrational in the slightest. They're a crime syndicate. There's no guess work involved. They see North America as a new opportunity and they know they can play against guilt. I don't have a problem with any group or people moving to Canada for legitimate reasons. I do have a problem when they come to exploit the system. And that's what a lot of gypsies do. They even admit how lax our criminal system is when dealing with these organized theives. I know our governemt has brought in some new legislation recently to start to deal with the problem, but we lack co-operation from Hungary. It doesn't help. They don't want them either so they're shipping them here as fast as they can. Go to youtube and type "gypsies stealing ". 1,230 videos of these assholes openly stealing.

I was in Paris when I was 16. Crowded around the Eiffel Tower there were gypsy women who were all collectively begging for money around the tourists. Of course you'd see children run through the crowds, which meant they were all pickpocketing.
Now, I might have been young, and this was my first ever experience with Gypsies and my first (and last) time I'll ever be in Paris, but I saw exactly what was going on. Walking by, they knew I was American.

"Excuse me, sir, can you help? I need money as I lost my husband in the war." She was about 23. I stuffed my hand into my wallet pocket and decided to bite.

"Really? How unfortunate. Which war?"
"The war, sir. The one we're ...


I was there in person, so I know it happened. And as far as I know, I've never heard nor read that story anywhere outside of my telling it. Perhaps there are such things as true "Urban legends"?
 
2013-02-11 01:01:31 PM

thecpt: indarwinsshadow: Cutting them up with a lightsabre seems a tad harsh. Ahhh. What the hell. Go for it Liam.

Oh, no.  Tell him they took his daughter.  You'll be in the clear buddy.


Or you could just burn down his house and leave him for dead, that works too.

images3.wikia.nocookie.net
 
2013-02-11 01:06:15 PM

StrangeQ: thecpt: indarwinsshadow: Cutting them up with a lightsabre seems a tad harsh. Ahhh. What the hell. Go for it Liam.

Oh, no.  Tell him they took his daughter.  You'll be in the clear buddy.

Or you could just burn down his house and leave him for dead, that works too.

[images3.wikia.nocookie.net image 800x544]


...Bruce Wayne was a Gypsy squatter?
 
2013-02-11 01:07:28 PM

Naesen: ThePastafarian: Naesen: indarwinsshadow: Naesen: indarwinsshadow: I would bet money they're of eastern European origin (gypsy). We're having a hell of time in Canada right now with credit and welfare fraud because of Hungarian gypsies coming to Canada on fake visas and immediately setting up crime syndicates. The sh*t thing is we catch them, shut them down but Hungary won't allow them back into the country after we try and deport them. I f*cking hate gypsies.

Finally, someone who shares my "supposedly irrational" hatred of these ... "people."

It's not irrational in the slightest. They're a crime syndicate. There's no guess work involved. They see North America as a new opportunity and they know they can play against guilt. I don't have a problem with any group or people moving to Canada for legitimate reasons. I do have a problem when they come to exploit the system. And that's what a lot of gypsies do. They even admit how lax our criminal system is when dealing with these organized theives. I know our governemt has brought in some new legislation recently to start to deal with the problem, but we lack co-operation from Hungary. It doesn't help. They don't want them either so they're shipping them here as fast as they can. Go to youtube and type "gypsies stealing ". 1,230 videos of these assholes openly stealing.

I was in Paris when I was 16. Crowded around the Eiffel Tower there were gypsy women who were all collectively begging for money around the tourists. Of course you'd see children run through the crowds, which meant they were all pickpocketing.
Now, I might have been young, and this was my first ever experience with Gypsies and my first (and last) time I'll ever be in Paris, but I saw exactly what was going on. Walking by, they knew I was American.

"Excuse me, sir, can you help? I need money as I lost my husband in the war." She was about 23. I stuffed my hand into my wallet pocket and decided to bite.

"Really? How unfortunate. Which war?"
"The war, sir ...


Really? So this went down in France and yet the gypsies knew English or you knew French yet something got lost in translation?  A polite, yet savvy 16 year old? Parents or guardians weren't around to tell the gypsies to buzz off? The cops get there just in the nick of time?

Ok then...
 
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