Two sentenced in massive $200M credit card fraud case

A federal judge sentenced two Staten Island men Tuesday in what authorities said was one of the largest credit card fraud schemes ever prosecuted by the federal government.

U.S. District Judge Anne E. Thompson sentenced Khawaja Ikram, 43, and Mohammad Khan, 51, to 24 and 12 months in prison, respectively, according to the U.S. Attorney’s Office in Trenton.

Ikram previously pleaded guilty to an information charging him with one count of conspiracy to commit bank fraud and Khan had pleaded guilty to an information charging him with conspiracy to defraud the United States.

Ikram and Khan were charged in 2013 in an alleged conspiracy to create more than 7,000 fake identities to obtain “tens of thousands” of credit cards, according to U.S. Attorney Paul J. Fishman’s office.

They were among 18 people charged in the conspiracy. According to a U.S. Attorney’s office spokesman, all but three of the 18 have been convicted of various fraud charges.

Individuals in the conspiracy falsified credit reports to increase the spending and borrowing power of the credit cards, and then they borrowed the maximum amount allowed.

According to the office, they did not repay the loans, causing more than $200 million in losses to businesses and financial institutions.


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