SAN DIEGO - (11/18/05) -- An important figure in aninternational credit card fraud was sentenced to seven years injail this week for his role in a scheme that targeted area creditunions and banks. James Hopper pleaded guilty to eight felonycounts just three weeks after he was arrested at a routine trafficstop and police discovered hundreds of blank credit cards in hiscar. The San Diego Police Computer and Technology Hi-TechCrimes--or CATCH--Unit, said Hopper is a key figure in aninternational ring that collects the personal financial informationof Americans and provides it to U.S. accomplices for themanufacture of counterfeit credit cards. The CATCH unit also foundthat Hopper had obtained the algorithm code for more than 200credit unions and banks to write second tract encryption into phonycredit and ATM cards. Police found blank credit cards, an embossingmachine, victim profiles and hundreds of fake drivers licenses whenthey raided Hopper's home, according to Gail Stewart, spokesman forthe San Diego Police. Hopper pleaded guilty as part of a pleabargain Wednesday to eight counts, including unlawful access tocredit activities, identity theft and possession of fraudulentdrivers licenses and was sentenced to seven years in prison, shetold The Credit Union Journal.
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Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
October 17 -
Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
October 17 -
In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
October 17 -
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
October 17 -
Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
October 17 -
Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
October 17