Financial Institution JPMorgan Chase Incurs Million-Dollar Loss: Fraudsters Manipulate Customer Credit Card Details, Boost Limits, and Modify Account Info, Claims Report
Crypto and Headlines
Welcome to Crypto and Headlines, your go-to source for the latest news, insights, and expert opinions on the crypto industry. Today, we've got an intriguing tale of stolen credit cards leading to a substantial loss for JPMorgan Chase—but hold on, let's dive deeper to get the whole scoop!
Two men from Houston have admitted to being part of a scheme to steal new credit cards and bank statements right out of mailboxes. Over 120 credit cards were swiped in this operation, with the felons activating the cards, increasing credit limits, and modifying account information.
This week, 39-year-old Bradley Kane Zarco and 28-year-old Travis Castaneda Qawasmeh pleaded guilty to using the cards for retail purchases, gift cards, and cash withdrawals over a six-month period. Three others—43-year-old Christopher McGee, 37-year-old Daniel Sanchez, and 64-year-old Omokehinde Muyiwa Oyegoke-Tewogbade— have already pleaded guilty in this case.
Sanchez has already received a 41-month prison sentence, and the other men face up to five years for conspiracy, with Christopher McGee facing an additional mandatory two-year term for aggravated identity theft.
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