May 8, 2008
ID Theft: Spent $3.2M in 3 months
I’ve seem some crazy news stories about fraud before, but nothing like this. A friend sent me a story on a convicted felon who spent $3.2 million in 3 months. So how did he do it?
When we buy things like cars or property, we need to prove our identity to do so. This guy used a copy of a driver’s license and social security card which was faxed in his dealings. He had started out small buying 4 trucks, ATVs for his toy hauler, then got daring and a Dodge Viper, finally houses and land all totaling $3.2 million.
This loser got caught when he tried to buy an ATV and business required original documents. He claims that his brother gave him permission to use his credentials to buy things. How low do you have to go to drive up this much debt on a family member? The brother refers to him as a “thief, crook and slime ball” which I would happen to agree with.
Sadly though this guy doesn’t feel he did anything wrong. He got eight years in prison and his brother has to clean up the mess on his credit report. This kind of thing is exactly why it is so important to have identity theft insurance and do annual checks on your credit reports.
