Jewelry Stores Raided in $10M ID Theft Bust

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

By Brian Thompson and Jonathan Dienst
|  Wednesday, Apr 6, 2011  |  Updated 2:29 PM EDT
View Comments (
)
|
Email
|
Print
Jewelry Stores Raided in $10M ID Theft Bust

NBCNewYork

Raja Jewelers was one of the stores raided.

advertisement

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

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Follow us on Instagram!
We post photos taken by our news... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out