Indians among 18 charged with $200 mn credit card fraud in US

Editors' Picks

  • Sacked Moyes thanks Ferguson for Man Utd opportunity

    Sacked Moyes thanks Ferguson for Man Utd opportunity

    Sacked Moyes thanks Ferguson for Man Utd opportunity

    Sacked Manchester United manager David Moyes thanked his predecessor Alex Ferguson on Wednesday for having given him the opportunity to lead the Premier League club. In a statement issued through the League Manager's Association (LMA), the Scot spoke of his pride at being chosen last July and acknowledged fans had a right to feel frustrated by results since then. "I remain proud to have led the team to the quarter-finals of this year's Champions League and I remain grateful to Sir Alex …

  • Scholes returns to help Man United interim manager Giggs

    Scholes returns to help Man United interim manager Giggs

    Scholes returns to help Man United interim manager Giggs

    Former Manchester United midfielder Paul Scholes returned to the club's training ground on Wednesday to help caretaker manager Ryan Giggs prepare for this weekend's Premier League match at home to Norwich City. Giggs, with whom Scholes shared many title triumphs, was put in charge of the first team for the final four games of the season following the sacking of David Moyes on Tuesday. As well as Scholes, Giggs was also joined by Nicky Butt and Phil Neville, who was assistant coach under …

  • Rumour: Guillem Balagué claims Lionel Messi on Manchester United’s radar
  • Moyes axed by Man Utd after season of failure

    Moyes axed by Man Utd after season of failure

    Moyes axed by Man Utd after season of failure

    By Mitch Phillips LONDON (Reuters) - Manchester United's succession planning for life after Alex Ferguson was left in tatters on Tuesday when manager David Moyes was sacked after 10 troubled months of failure and frustration at a club used to seamless success. Moyes, appointed with a six-year contract on the direction of retiring fellow-Scot Ferguson last July after 11 years at Everton, did not even get to complete his first season as the club's American owners, the Glazer family, ran out of …

  • United must move fast with vital window looming

    United must move fast with vital window looming

    United must move fast with vital window looming

    By Ed Osmond LONDON (Reuters) - Manchester United must move quickly to appoint a new manager and give him maximum time to operate in what will be a critical transfer window for the club. A season of abject failure under David Moyes brought a swift end to the former Everton manager's reign at Old Trafford and United will have to act equally decisively to install the right man to try to revive their fortunes. Netherlands manager Louis van Gaal is the favourite and he has the necessary experience …

  • Man United act to halt slide as power shifts back to Liverpool

    Man United act to halt slide as power shifts back to Liverpool

    Man United act to halt slide as power shifts back to Liverpool

    By Keith Weir LONDON (Reuters) - The balance of power in English soccer has shifted from one famous U.S.-owned club to another, with Liverpool on course to win the league for the first time in 24 years while rivals Manchester United are in disarray and seeking a new manager. The Glazer family who own United showed their ruthless streak on Tuesday when they sacked manager David Moyes after less than one season in the job. Moyes inherited a Premier League-winning team from Alex Ferguson last …

New Jersey, Feb 6 (IANS) US federal prosecutors have charged 18 people, including at least five Indians, in one of the largest credit card fraud schemes spanning 28 states and eight countries, including India.

Using over 25,000 fraudulent credit cards, the accused wired millions of dollars to Pakistan, India, the United Arab Emirates, Canada, Romania, China and Japan leading to losses of more than $200 million, prosecutors said.

"The defendants are part of a massive international fraud enterprise involving thousands of false identities, fraudulent identification documents, doctored credit reports and more than $200 million in confirmed losses," FBI Special Agent James Simpson said in court records.

According to court records, the scheme involved three basic steps: The defendants allegedly created thousands of fake identities, pumped up the credit histories of those fictitious people and then racked up charges on fraudulently obtained credit cards.

The proceeds, authorities said, were used for luxury automobiles, electronics, spa treatments, high-end clothing and millions of dollars in gold. Authorities said the fraudsters also stockpiled large sums of cash and approximately $70,000 in cash was found in one defendant's oven.

Though the scheme targeted credit card companies, Paul Fishman, US Attorney for New Jersey, said customers everywhere could feel the impact.

"Through their greed and their arrogance, the individuals arrested today and their conspirators allegedly harmed not only the credit card issuers, but everyone who deals with increased interest rates and fees because of the money sucked out of the system by criminals acting in fraud rings like this one," Fishman said.

The defendants, including the alleged ringleaders, Babar Qureshi and Muhammad Shafiq, are due to make their initial court appearances before US Magistrate Judge Madeline Cox Arleo in a Newark federal court Wednesday.

Most Popular Stories