The suspects were rounded up Tuesday morning and hauled into Manhattan Supreme Court, where they were charged with grand larceny, criminal possession of a forged instrument, conspiracy, and criminal possession of stolen property, among other counts.
According to the American Bankers Association, "Card Cracking" scams involve contacting a person through social media and letting criminals deposit fake checks into their bank accounts in exchange for a small cut of the illicit profits. But instead of paying up, the crooks typically remove all of their funds before the bank can determine that the check is counterfeit.
By the time the victim realizes the deposit is a fake, it’s too late — and they are left on the hook for any money that was withdrawn. “As alleged, the members of this identity theft ring exploited stolen personal information to manufacture fake credit cards,” explained Police Commissioner Bill Bratton.
“With the forged instruments, the defendants shopped in Manhattan’s most high-end retail stores, all on someone else’s dime.”
Additional reporting by Emily Saul