Feds Arrest 99 For Identity Theft, Card Fraud

Mathew J. Schwartz reports:

Authorities on Wednesday announced the arrest of 99 people as part of an investigation into the Armenian Power organized crime ring, which allegedly scammed, stole, and extorted more than $20 million from its victims.


In one 134-count indictment, returned by a federal grand jury three weeks ago under seal, 29 people were accused of participating in a conspiracy that violated the federal Racketeer Influenced and Corrupt Organizations (RICO) Act. “The RICO charge alleges a host of illegal activities, some of which are sophisticated white-collar crimes such as identity theft, credit card skimming, and manufacturing counterfeit checks,” said federal authorities.

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