Jewelry Stores Raided in $10M ID Theft Bust

The stores are all within a block of each other in Jersey City.

View Comments ()



    Raja Jewelers was one of the stores raided.

    Three jewelry stores in New Jersey were raided by the FBI Wednesday in what appears to be a multimillion dollar identity theft and credit card scheme, officials said.
    The three stores, all in a section of Jersey City known as Little India, were swarmed by dozens of FBI agents with Jersey City police providing backup.

    A law-enforcement source says ID thieves would bring stolen credit card information to the cooperating store owners and make fake purchases.

    Credit card companies would then charge the accounts, sending the money to the merchants, who would split the proceeds with the ID thieves, officials said.

    As much as $10 million dollars in fake sales were reimbursed this way, according to the law-enforcement source.

    The stores are all within a block of each other on Newark Avenue and go by the names Ashu Jewelers, Raja Jewelers and Nikita's.

    Follow Brian Thompson on Twitter @brian4NY