Indians Among 18 Charged in $200 Mn Credit Card Scam
At least five Indian-origin men are among 18 others charged here for running a whopping USD 200 million global credit card fraud under which they used thousands of fake identities to dupe businesses and financial firms and wired millions of dollars to Pakistan and India.

In one of the largest credit card fraud schemes ever charged by the US Department of Justice, the men fabricated identities to obtain credits cards and doctored credit reports to pump up the spending and borrowing power associated with the cards.

They would then borrow or spend as much as they could based on their fraudulently obtained credit history and not repay the debts, looting businesses and financial institutions of more than USD 200 million in confirmed losses, US Attorney Paul Fishman said.

Law enforcement officers from the FBI arrested 13 men and searched locations in New Jersey, New York, Pennsylvania and Connecticut.

Among those charged with bank fraud are Babar Quereshi 59, Ijaz Butt 53, Raghbir Singh 57, Mohammad Khan 48, Sat Verma 60, Vijay Verma 45, Tarsem Lal 74 and Vinod Dadlani 49.

Each faces a maximum potential penalty of 30 years in prison and a million dollar fine.

"The criminal activity highlights an extensive, sophisticated, organised scheme, executed against US financial institutions, which, in turn, affects every citizen of the US," Acting Special Agent in Charge David Velazquez said.

"This elaborate network utilised thousands of false identities, fraudulent bank accounts, fake companies and collusive merchants to defraud financial institutions of hundreds of millions of dollars in order to facilitate extravagant lifestyles they could otherwise not afford," he said.
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5/D-38
Feb 08, 2013
08:15 AM

Ramesh Ramachandra ... "I am only stating an empirical truth. How many instances can you cite of women of Indian origin abroad who have been nabbed for acts of skulduggery, cheating and fraud?"

Genes of course are a matter of fact and science not empirical - that could be a starting point bu then needs to be established. Could it be the genes exist and are dormant? Could it be a case of "equal opportunity" missing? Could it be the case of they are smart and "behind every successful man (in the scam business) there is a woman".

Anyways, I would hazard a reasonable educated guess that as far as genes go, if this does exist in the "desi" it is very likely non-gender specific - it is an equal opportunity gene so to speak.

Arun Maheshwari
Bangalore, India
4/D-137
Feb 07, 2013
03:33 PM

 Arun Maheshwari (3/D - 130)

I am only stating an empirical truth. How many instances can you cite of women of Indian origin abroad who have been nabbed for acts of skulduggery, cheating and fraud?

Ramesh Ramachandra, Bangalore
3/D-130
Feb 07, 2013
02:56 PM

Ramesh Ramachandra of Bangalore writes .... "..... one thing you can never take out of the Indian is his (yes, Indian males) is his deviousness and crookery which are firmly encoded in his genes."

Are you sure this "gene" is gender specific, as in the males but no other gender?

Arun Maheshwari
Bangalore, India
2/D-113
Feb 07, 2013
01:38 PM

 They say you can take the Indian out of India, but you can't take India out of the Indian. Even if you can take India out of the Indian, one thing you can never take out of the Indian is his (yes, Indian males) is his deviousness and crookery which are firmly encoded in his genes.

Ramesh Ramachandra, Bangalore
1/D-112
Feb 06, 2013
03:20 PM

"Among those charged with bank fraud are Babar Quereshi 59, Ijaz Butt 53, Raghbir Singh 57, Mohammad Khan 48, Sat Verma 60, Vijay Verma 45, Tarsem Lal 74 and Vinod Dadlani 49."

S/Shri Sat Verma, Vijay Verma, Tarsem Lal, and Vinod Dadlani seem to be Indians, are they? If so, the government should be moved by intelligentsia for awarding Padma award on them. The exact awards to be conferred should be decided by Prof. Ashis Nandy, who knows the caste of these men who have made India proud in USA.

Statue of each of them should be raised also on prominent roads and in the compouns of national  institutions, e. g. Parliament, International Airports, Delhi, Victoria Memorial Calcutta, etc.

Sanket Biswas, Kolkata
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