Fraud Ring Busted After Persistently Repeating Scams

A fraud ring with members working in banks and charitable organizations continued to repeat their operation despite questioning and investigations by the U.S. Secret Service. The 55-person fraud ring was responsible for more than $2 million in fraud as they stole financial account information from consumers and forged checks to drain their funds. Three of the fraud ring members worked as tellers at Chase bank where they were able to copy consumer account information, make fraudulent transfers from customer accounts, take out credit cards in customers’ names and allow other known fraudulent transactions to go through. The three tellers were arrested and are no longer bank employees.


Another member of the fraud ring abused the responsibility of their position with their employer, which happened to be a charitable organization. Tracey Nelson is being held on grand larceny and other charges without bail after stealing the information of many consumers that donated to the UJA-Federation, a well-known Jewish charity. She was employed by the charity for three years and processed checks for the organization. As she processed the donations she copied and sold the donors financial account information. Despite the fact that the U.S. Secret Service investigated and questioned Nelson in 2010 she continued to steal and sell donor financial information.


This behavior exemplifies the all-too-common mentality of a fraudster. When a scam has worked for them before they will continue to attempt the fraud until someone or something stops them. In some cases even a federal investigation isn’t enough to deter their scam, the only thing that will stop them is finally being caught.


For More Information: DA: Big NYC fraud ring stole charity donors’ info

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