Habib Chaudhry who stays in Valley Stream, New York has been charged for an indictment for his involvement in conspiracy to commit bank fraud. The first complaint was filed against Chaudhry in February 2013 and then again by indictment in September 2013. Since last four years, Chaudhry had been a fugitive before the arrest was in January 2017.
As per the court records, Habib Chaudhry has been accused for his role in the conspiracy which was led by Tahir Babar Qureshi, Lodhi, Ijaz, Butt and others. All these people fabricated more than 7,000 phoney identities. This was accomplished to launder tens of thousands of credit cards. In connection with the charge, 20 people have pleaded guilty.
Through this scheme, these scammers initially made false identities by creating fake identification documents and a fraudulent credit profile. The profiles were made with the major credit bureaus. These credits were maintained to surge the creditworthiness of the fake identities. Finally, they borrowed or spent as per their convenience without caring for paying the debit. This scheme caused a huge loss to financial institutions. The estimate is more than $200.
The scheme was very well planned. They constructed an elaborate network of phoney identities. There were more than 1,800 “drop addresses maintained across the country which includied houses, apartments and post office boxes. These addresses they used as their mailing addresses.
Habib Chaudhry confessed that he obtained these deceitful credit cards under the names of fake identities. These credit cards were mailed to his fake addresses. Others followed the similar pattern. They never intended to return the amount to the bank.
Fitzpatrick who is acting attorney for the case, credited special agents from the FBI’s Cyber Division, which was accomplished under the supervision of Timothy Gallagher, Special Agent in Charge in Newark. He also acknowledged James V. Buthorn who is the postal inspectors with the U.S. Postal Inspection Service, Charge Mark McKevitt who is the special agent of the U.S. Secret Service and the U.S. Social Security Administration for their help.
The conspiracy like this results in a maximum potential prison of 30 years. In addition, there is a charge of $1 million fine, or twice the gross gain or loss from the offense. The sentencing is due on Sept. 20, 2017.