Police arrest 53 bank fraud suspects in New Jersey

[September 17, 2010]  NEWARK, N.J. (AP) -- Federal prosecutors in New Jersey have announced charges against 53 people stemming from an identity theft and fraud investigation.

Those charged are suspected of running a bank-fraud ring that targeted Asian immigrants.

The U.S. Attorney's Office says the scheme spanned New Jersey, New York, Connecticut and California.

Authorities say the suspects used Social Security numbers from legal immigrants who worked in American territories, including Guam, to apply for driver's licenses under fake names. Authorities say they used those identities to obtain credit cards.

Authorities say the suspects used the cards to buy luxury goods or just swiped them at their own companies or shell businesses to get cash.

Many of the suspects are Korean immigrants who live in Bergen County.

[Associated Press]

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