<p>   u00a0</p>  <div id="cke_pastebin">   The scamsters used over 25,000 fraudulent credit cards.</div>  <div id="cke_pastebin">   u00a0</div>  <div id="cke_pastebin">   The accused wired millions of dollars to Pakistan, India, the United Arab Emirates, Canada, Romania, China and Japan leading to losses of more than $200 million, prosecutors said.</div>  <div>   u00a0</div>  <p class="caption">   <img alt="credit cards" src="http://images.mid-day.com/2013/feb/credit-cards.jpg" style="width: 500px; height: 334px;" /><br />   <strong>Representational picture</strong></p>  <div id="cke_pastebin">   &quot;The defendants are part of a massive international fraud enterprise involving thousands of false identities, fraudulent identification documents, doctored credit reports and more than $200 million in confirmed losses,&quot; FBI Special Agent James Simpson said in court records.</div>  <div id="cke_pastebin">   u00a0</div>  <div id="cke_pastebin">   According to court records, the scheme involved three basic steps: The defendants allegedly created thousands of fake identities, pumped up the credit histories of those fictitious people and then racked up charges on fraudulently obtained credit cards.</div>  <div id="cke_pastebin">   u00a0</div>  <div id="cke_pastebin">   The proceeds, authorities said, were used for luxury automobiles, electronics, spa treatments, high-end clothing and millions of dollars in gold. Authorities said the fraudsters also stockpiled large sums of cash and approximately $70,000 in cash was found in one defendant&#39;s oven.</div>  <div id="cke_pastebin">   u00a0</div>  <div id="cke_pastebin">   Though the scheme targeted credit card companies, Paul Fishman, US Attorney for New Jersey, said customers everywhere could feel the impact.</div>  <div id="cke_pastebin">   u00a0</div>  <div id="cke_pastebin">   &quot;Through their greed and their arrogance, the individuals arrested today and their conspirators allegedly harmed not only the credit card issuers, but everyone who deals with increased interest rates and fees because of the money sucked out of the system by criminals acting in fraud rings like this one,&quot; Fishman said.</div>  <div id="cke_pastebin">   u00a0</div>  <div id="cke_pastebin">   The defendants, including the alleged ringleaders, Babar Qureshi and Muhammad Shafiq, are due to make their initial court appearances before US Magistrate Judge Madeline Cox Arleo in a Newark federal court Wednesday.</div>

At least five Indians are among 18 people who have been charged in one of the largest credit card fraud schemes spanning 28 states and eight countries, including India, by US federal prosecutors

Five Indians among 18 charged with credit card scam in US

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Five Indians among 18 charged with credit card scam in US

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