Leader Of International, $200 Million Credit Card Fraud Scam Sentenced To 80 Months In Prison

[nitpicker]

http://www.justice.gov/usao-nj/pr/leader-international-200-million-credit-card-fraud-scam-sentenced-80-months-prison

Leader Of International, $200 Million Credit Card Fraud Scam Sentenced To 80 Months In Prison
(snip)

Lodhi directed the activities of a number of other conspirators in fabricating more than 7,000 false identities to obtain tens of thousands of credit cards. They doctored credit reports to pump up the spending and borrowing power associated with the cards. Lodhi and others then borrowed or spent as much as they could, based on the phony credit history, but did not repay the debts, causing more than $200 million in confirmed losses to businesses and financial institutions.

The scheme involved a three-step process in which the defendants would:

•“Make up” a false identity by creating fraudulent identification documents and a fraudulent credit profile with the major credit bureaus.

•“Pump up” the credit of the false identity by providing false information about that identity’s creditworthiness to the credit bureaus. Believing the furnished information to be accurate, the credit bureaus would incorporate this material into the false identity’s credit report, making it appear that the false identity had excellent credit.

•“Run up” large loans using the false identity. The higher the fraudulent credit score, the larger the loans that the defendants could obtain. These loans were never repaid, and Lodhi and his conspirators reaped the profits.
(snip)

[PADemD]

1. Only 80 months?

Why not 200 months, one month for every million he stole?

[TreasonousBastard]

2. If only he had a bag of crack...

it would have been 40 years.