CREDIT-CARD FACTORY UNCOVERED

Credit-card factory uncovered: police
July 26, 2012 – 3:57PM
Ilya Gridneff The Sydney Morning Herald
Police have arrested and charged a Sydney man, alleging he operated a sophisticated credit-card and fake-identity factory worth an estimated $5 million in fraudulent transactions.  The Australian Federal Police last night raided two Ryde homes and arrested Gulun Zhang, 51.

Police told the Herald they seized more than 2000 blank credit cards potentially worth $2500 each, 500 fraudulent NSW drivers’ licences, $25,000 in cash, high-end accessories including designer watches, and large amounts of high-end alcohol products.  The federal police allege the man was central to a major Australian-wide money-laundering and fake document syndicate

Mr Zhang was set to appear in Sydney Central Local Court this morning but a translator was not available and the matter was held off until August 2.  He faces 11 charges including dealing with the proceeds of crime, making false documents and possession of equipment used to make identification information.

In a statement the federal police said “the joint operation with NSW Police commenced in April 2011 and yesterday shut down the manufacturing and money laundering syndicate operating out of Sydney stopping a potential $5 million in fraudulent transactions”.

This entry was posted in CREDIT CARD FRAUD, IDENTITY THEFT and tagged , , , , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *