Two Indian-American men have been arrested by the US Justice Department for their roles in one of the largest credit cards schemes ever charged.
Babar Qureshi and Habib Chaudry have been arrested in connection with the scheme.
Qureshi, 63, of New Jersey, has been sentenced to five years of supervised release in addition to 46 months in prison on January 27, for participating in the US$200 million credit card scam, according to a US State Attorney's Office for the District of New Jersey news release.
He has pleaded guilty to US District Judge Anne Thompson on conspiracy to commit bank fraud charges. He was first charged in February 2013 as part of a conspiracy to create 7,000 fake identities to obtain tens of thousands of credit cards.
Chaudry, 49, was initially charged in February 2013 and then indicted in September 2013. He has been a fugitive for almost four years, according to the release.
The report says that Qureshi’s role was to take the cards and charge large amounts at complicit merchants, who would pay him some amount of the charge. He used fake bank accounts to receive proceeds from the fraud and to hide his involvement.
Chaudry’s role in the scam has not been released.
Special agents in the FBI’s Cyber Division were responsible for taking down this fraudulent credit card enterprise.