FBI Arrests Fugitive Wanted for $200M in Credit Card Fraud

credit card fraud

After nearly four years of evading authorities, a fugitive implicated in one of the Justice Department’s largest credit card fraud schemes gave himself up.

The United States’ Attorney’s Office for the District of New Jersey told Fortune that Habib Chaudhry, of the Long Island town of Valley Stream, was one of the last remaining members of a ring of identity fraudsters.

The group allegedly cost banks and other businesses more than $200 million in fraud losses.

Of 22 defendants, Fortune noted that 19 have since pleaded guilty to the charges of stealing tens of thousands of credit cards through more than 7,000 fabricated identities, but two men still remain at large: Muhammad Naveed and Amar Singh.

Since his arrest, Chaudhry has posted $250,000 in bail and remains under electronic monitoring. He is scheduled to appear before a Newark court to face charges next week.

According to prosecutors, the defendants allegedly used fake identities and credit profiles, strengthened creditworthiness with false data and proceeded to go on major shopping sprees. They are also accused of utilizing a network of more than 1,800 addresses for the falsified personas.