The FBI believes that jewellery shops in Jersey City’s “Little India” neighbourhood were at the heart of a vast credit card fraud ring, which stretched across several US states.
Several properties have been raided and 18 people have been charged so far.
Officials say participants in the scheme “stole” at least 200 million dollars (150 million euros).
US Attorney for the District of New Jersey Paul Fishman said of the perpetrators:
“They hid tens of thousands of dollars of cash in their homes. You will see in the complaint that 68,000 dollars (50,000 euros) in cash was seized from just one defendant’s house during an earlier search warrant, executed as part of this case. Money was hidden in a kitchen stove.
“And the complicit merchants, the jewellery store owners in Jersey City, used the proceeds to purchase millions of dollars worth of gold and gold jewellery and we’ll be seeking to forfeit whatever we can find,” Fisherman added.
Officials believe the fraud involved thousands of fake identities, lies to credit rating agencies and funds wired abroad.
Beginning in 2007, the alleged scam was based on falsely improving the credit scores of cardholders, allowing scammers to borrow high amounts of money – which they never repaid.
- 1Fire and brimstone show EU deal is close, Varoufakis tells euronews
- 2Chomsky says US is world’s biggest terrorist
- 3Leaders gather to mark 100th anniversary of Armenia massacre
- 4Friendship and reconciliation replace conflict at Gallipoli centenary
- 5Mixed reaction from rights groups and NGOs to EU migrant plan
- 1Chomsky says US is world’s biggest terrorist
- 2Unverified video appears to show ISIL killing of 30 Ethiopian Christians
- 3US Navy deploys two more warships near Yemen as conflict escalates
- 4Ethiopia: Clashes at rally to mourn Christians killed by ISIL in Libya
- 5Spain arrests murder suspect on Britain’s most-wanted list
- 1Chomsky says US is world’s biggest terrorist | euronews, the global conversation
- 2euronews live TV - News | euronews : the latest international news as video on demand
- 3Chomsky – a rebel with a cause | euronews, world news
- 4Anti-ISIL demonstrations turn violent in Ethiopia | euronews, no comment
- 5The migrants tragedy in the Mediterranean sparks creative satirical response | euronews, world news
- 6Europe is ‘bluffing’ over Greece-Russia relations – analyst | euronews, news
- 7French Alps plane crash treated as suicide and mass murder by co-pilot | euronews, world news
- 8International tv news | euronews: European and International tv news bulletin
- 9Woman carries can of water on her head along Paris marathon | euronews, world news
- 10Former IMF chief ‘under investigation for money laundering’ | euronews, world news
- 11Pope Francis washes Rome prisoners’ feet on Holy Thursday | euronews, world news
- 12ECB chief Mario Draghi unhurt after protest during speech | euronews, world news
- 13International news | euronews, latest international news
- 14eurovibes - a selection of Europe’s best music talent
- 15Indonesia executes five foreigners despite protest | euronews, world news
- 16French prosecutor: Germanwings co-pilot appears to have crashed plane deliberately | euronews, world news
- 17Portuguese researchers discover the secret of Mind Control | euronews, futuris
- 18International breaking news | euronews online world breaking news in video
- 19Germanwings press conference mystery: what wasn’t he supposed to say? | euronews, world news
- 20[Live updates] France plane crash: damaged black box ‘can provide information’ | euronews, world news
Wires > News
- 06:29 CET Thousands gather at Gallipoli to mark centenary of WW1 battle
- 05:36 CET United States seeks access to Philippine bases as part of Asia…
- 04:47 CET Amended China law curbs tobacco ads in land of smokers
- 02:49 CET Jailed opposition mayor may be granted home arrest in Venezuela
- 01:01 CET Israeli forces shoot and kill Palestinian armed with knives
- 00:36 CET U.N. chief urges Myanmar to address Muslims’ status ahead of vote
- 23:46 CET U.S. pro-Israel lobby opposes push to toughen Iran nuclear bill
- 23:13 CET No decision yet on Mistral, France’s Hollande says