3 Busted in Sin City Credit Fraud Ring

3 Busted in Sin City Credit Fraud Ring

Posted by John B. Frank Thursday, March 26, 2009

18 month credit fraud ring investigation leads to three arrests - KTN Las Vegas

Box after box, jewelry, DVD players, cars of every size and all of it is now evidence.

"Right now they're astronomically tired," said Lt. Robert Sebby of his Metro Police team. "this started Monday morning."

Sebbysays Metro has been investigating the charge card fraud ring for 18months or more. It all came to a head Monday, according to arrestreports, when an officer pulled-over Davit Kudugulyan and found severalcredit cards in a glove box, along with a fake I. D.

The numbers on the magnetic strips of those cards didn't match the numbers on the front.

So how were they making them? "A smoke-shop and another business," Lt. Sebby said. "In the smoke shop we recovered an active skimmer."

That'sa card-swipe device that records the magnetic information on yourcard. Police say the crooks were also collecting personalidentification numbers, or PINs, with a tiny camera as well.

"Nextto the pin pad, mounted in a counter display, was a pin-hole camerarecording people's numbers. So people have to be aware of theirsurroundings," Sebby said.

At the home on Chicory Court, policearrested Arytun Khoudagoulian after they say they found more creditcards, receipts, and a point-of-sale machine that had been tamperedwith. An the investigation expanded again after when policearrested a third man - Hrachya Arakelyan and investigators say theyaren't done yet.

0 comments

Learn More About Us

Find out how our patented technology can empower your financial institution.

Our secure two-factor online banking authentication eliminates dangerous passwords and usernames and replicates the same trusted process used to access cash at ATM's. (Insert Bank Issued Card, Enter Bank Issued PIN)

There is an R.O.I. as FI's also earn recurring revenue from each transaction conducted using our PCI 2.0 Certified PIN Entry Device. Our technology also provides a unique real-time P2P "Instant-Transfer" which allows your online banking customer to transfer cash from ANY of their bankcards to ANY other bankcard...with the Swipe of a card.

Help your bank eliminate phishing and your customers avoid identity theft by providing them with the ability to stop typing and start swiping. There is no safer way to conduct financial transactions online than by 3DES DUKPT encrypting the cardholder details, which we do at the mag-head "inside the box/outside the browser."

All Top Banking