Elk Grove Man Pleads Guilty to Debit Card and Student Loan Fraud
August 23, 2013 | Mordechay Altit, aka Michael Altit, aka Anthony Altit, aka Tony Altit, 34,pleaded guilty today to two counts of ...
https://www.elkgrovenews.net/2013/08/elk-grove-man-pleads-guilty-to-debit.html
August 23, 2013 |
Mordechay Altit, aka Michael Altit, aka Anthony Altit, aka Tony
Altit, 34,pleaded guilty today to two counts of mail
fraud and one count of money laundering in connection with fraudulent
use of debit cards and student loan fraud, United States Attorney
Benjamin B. Wagner announced.
According to court documents, Altit applied for debit cards issued
from banks or other providers of debit cards in his own name or using
the names and Social Security numbers of other persons. Altit then used
merchant and terminal identification numbers issued to merchants and
businesses across the country to cause fraudulent refunds and credits to
be placed on the debit cards he controlled. Before the businesses could
rescind these transactions, Altit used the cards to spend and transfer
the money. Altit attempted to have at least $450,000 in fraudulent
merchant returns credited to his debit cards.
According to court documents, Altit obtained more than $200,000 in
student loans and attempted to receive an additional $250,000 in student
loans from banks by means of fraudulent representations. On
applications submitted by him, Altit fraudulently represented the names
of the students applying for the loans, their Social Security numbers,
their incomes, and that they were attending or planned to attend schools
such as California State University, Sacramento, Southern California
University of Health Sciences, Harvard Law School and Yale School of
Medicine. After receiving some of the proceeds from two of the student
loans, Altit then wrote checks for more than $19,000 each to his brother
Shay Din Altit. Shay Din Altit pleaded guilty to conspiracy to commit
money laundering on April 4, 2013. He is scheduled to be sentenced on
September 13, 2013.
These cases are the product of investigations by the Federal Bureau
of Investigation, the Internal Revenue Service-Criminal Division, and
the United States Secret Service. Assistant United States Attorney Lee
S. Bickley is prosecuting the case.
Altit is scheduled to be sentenced by U.S. District Judge Garland E.
Burrell, Jr. on November 8, 2013. The maximum statutory penalty for a
violation of mail fraud is 20 years and a $250,000 fine.
1 comment
We should not get too surprised when we get to see news about people who commit frauds over student loans and debit cards. Do not get me wrong, I am not trying to justify such people. I am simply trying to say that such people get desperate and they look for solutions with every possible way. Sometimes such ways are incorrect and can have rather bad consequences. Still…committing fraud over debit card this is too much. Isn’t it better to simply get instant $1000 through internet to cover such debt??? I think it is!
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