07 February 2013

Global credit card fraud: 5 Indians among 18 charged in New York

NEWARK: At least five Indian-origin men are among 18 people charged in New York for running a whopping $200 million global credit card fraud under which they used thousands of fake identities to dupe businesses and financial firms and wired millions of dollars to Pakistan and India. 
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Law enforcement officers from the FBI arrested 13 men and searched locations in New Jersey, New York, Pennsylvania and Connecticut. Among those charged are Babar Quereshi (59), Ijaz Butt (53), Raghbir Singh (57), Mohammad Khan (48), Sat Verma (60), Vijay Verma (45), Tarsem Lal (74) and Vinod Dadlani (49). Each of them faces a maximum penalty of 30 years in jail and a $1 million fine. 

"The criminal activity highlights an extensive, sophisticated, organized scheme, executed against US financial institutions, which, in turn, affects every US citizen," acting special agent in charge David Velazquez said. 
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