WEST PALM BEACH, Fla. – Ten individuals were indicted by a federal grand jury and charged as part of a three-year investigation aimed at dismantling a multi-million-dollar identity theft ring that victimized dozens of credit unions and banks.
The individuals allegedly stole drivers’ licenses and other identification, then used disguises to pose as the victims in order to deposit, then cash checks at the targeted institutions, according to the indictment.
The victims were members of Community Educators CU, Space Coast CU, Astoria FCU, Power 1 CU, Central Florida Educators CU, Navy FCU, Coastal FCU, AA CU, Duke University CU, Local Government Employees FCU, U.S. Postal Service FCU, Pentagon FCU, Weyco CU, City County CU and Tropical CU, and customers of more than a dozen banks.
Most of the defendants charged last week allegedly committed thefts and recruited others to participate in the thefts, cash forged checks, or use the stolen credit cards
Two of the defendants worked at a title company and had access to Accurint and Equifax databases. One allegedly used her employment resources to obtain Social Security numbers and Florida driver’s license numbers for the co-conspirators to use in committing bank fraud.
Since 2004, the Felony Lane prosecutions have charged more than $10,000,000 in fraud at various credit unions and banks in South Florida, and elsewhere.
The operation got its name from the way in which the defendants conducted the fraud, using farthest lane of the drive-in teller at local banks (which is typically the most difficult place for bank surveillance to capture their activity) to cash the stolen or forged checks.
To execute the fraud , the defendants typically cashed and/or deposited forged checks at financial institutions, impersonated legitimate account holders and took over their accounts, and changed the address on the victims’ accounts to addressed they controlled, and then used the victim’s stolen credit cards at various merchants in the area specifically targeted by the group.
