Owner of furniture store convicted of fraud
February 8, 2011
Total Loss:
$400,000
The owner of a now-defunct Houston furniture store, whom prosecutors accused of having turned his business "into an ATM for identity thieves," is facing 20 years or more in prison on conspiracy and fraud charges. A federal jury found Peter Luong Tran, 48, guilty of conspiracy to commit bank fraud and five counts of access device fraud, U.S. Attorney José Angel Moreno announced Monday. Tran owned Style Furniture at 11324 Westheimer. Between November 2008 and March 2009, Moreno said, Tran used the store to process fraudulently obtained credit cards in exchange for cash, resulting in more than $400,000 in losses to financial institutions.
Source:
Houston Chronicle
Posted in:
Credit Card Fraud