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

Editors' Picks

  • Why Manchester United’s dressing room DJ Ashley Young is allowed to play only funky house music

    Why Manchester United’s dressing room DJ Ashley Young is allowed to play only funky house music

    Why Manchester United’s dressing room DJ Ashley Young is allowed to play only funky house music

    Manchester United boss Louis van Gaal allows new dressing room DJ Ashley Young to only play funky house music. …

  • Hazard wins England's PFA player of the year award

    Hazard wins England's PFA player of the year award

    Hazard wins England's PFA player of the year award

    By Ken Ferris LONDON (Reuters) - Chelsea's Belgium forward Eden Hazard won England's PFA player of the year award ahead of Tottenham Hotspur's Harry Kane and Manchester United goalkeeper David De Gea on Sunday. England striker Kane, 21, was voted young player of the year at the Professional Footballers' Association awards dinner with Hazard, 24, second and Liverpool's Philippe Coutinho, 22, third. …

  • We were out-fought by Everton, says Van Gaal

    We were out-fought by Everton, says Van Gaal

    We were out-fought by Everton, says Van Gaal

    Louis van Gaal accused his Manchester United players of being out-fought in a 3-0 defeat at Everton on Sunday that left the Premier League top-four door slightly ajar for Liverpool. Victory at Goodison Park would have all but guaranteed a return to the Champions League for United after this season's absence from Europe but they were picked off by a clinical Everton side despite hogging possession. A breakaway goal after five minutes by James McCarthy put Everton ahead and they doubled their …

  • Everton vs Manchester United – Player Ratings

    Everton vs Manchester United – Player Ratings

    Everton vs Manchester United – Player Ratings

    Analyzing player performance's from Everton's convincing win over Manchester United …

  • Man City's spirit and belief is back, says Pellegrini

    Man City's spirit and belief is back, says Pellegrini

    Man City's spirit and belief is back, says Pellegrini

    Manchester City manager Manuel Pellegrini hailed his team's spirit and belief after Saturday's 3-2 win over Aston Villa and said those qualities had been lacking in recent Premier League games. The champions let slip a two-goal lead, given them by Sergio Aguero and Aleksandar Kolarov, as Villa pegged the hosts back with second-half strikes from Tom Cleverley and Carlos Sanchez. Fernandinho then stabbed home the winner in the 89th minute to save City's blushes and help them leapfrog Arsenal …

  • Leicester keep up Houdini-style escape, Man City win

    Leicester keep up Houdini-style escape, Man City win

    Leicester keep up Houdini-style escape, Man City win

    By Sam Holden LONDON (Reuters) - Leicester City continued to do their best Houdini impression on Saturday as they escaped the Premier League drop zone for the first time since November while Manchester City went up to second spot with a thrilling win. A battling 1-0 triumph at bottom club Burnley gave Leicester their fourth consecutive league victory and lifted Nigel Pearson's side into 17th position, one point above the bottom three. Burnley's Matt Taylor slammed a 59th-minute penalty …

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.