WABC-TV(NEW YORK) – Nearly 40 people were indicted in New York Wednesday in a massive counterfeit cash checking scheme.
Through a process known as “debit card cracking,” the suspects allegedly used social media to lure young people with the promise of luxury cars and a lavish lifestyle in return for the use of a debit card, which would then be used to deposit phony checks into bank accounts.
“These defendants are accused of luring young people on Facebook, Twitter, Instagram, and Snapchat to join a ‘debit card cracking’ scheme, which netted more than a million dollars in cash,” District Attorney Cy Vance said. “Kids on social media who see posts like these, staged in hot tubs, sports cars or among piles of cash, should know that debit card cracking is illegal, and is on law enforcement’s radar. You will not get to keep the money, and you could end up in jail.”
Prosecutors said more than $1 million was taken from the bank accounts, making it the largest fraud of its kind.
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