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International Bank Scheme Claims Millions

5:26 PM, Jun 10, 2013   |    comments
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The story behind a multi-million-dollar scheme involving tens of thousands of victims across the globe. There are ways for you to avoid falling prey to a similar crime.

Robert Saks is behind bars for orchestrating an international bank scheme that stole $34 million.

At the heart of the scheme: a "lead list" that included bank customer names and account information. The list was used to charge and withdraw amounts from the consumers' bank account without their knowledge.

Postal inspectors determined Saks and 15 others withdrew funds from more than 100,000 accounts - mostly small amounts to avoid suspicion.

"The maximum amount we found was $299," said U.S. Postal Inspector, Daniel Forrester. "But, there were smaller amounts, some less than $100-59 and a person may not have challenged them."

Unlocking the case required an extensive accounting review.
"We examined hundreds of bank account records and we were able to piece together the elaborate conspiracy that it was," said Forrester.

As inspectors prepared for trial, they created a chart laying out the case. In all - 17 people were charged.

Inspectors say: always check your bank account. In this case, many consumers got money back.

"Consumers could challenge the charge and if they can't verify it - they will reverse it," Forrester added. "Consumer law says you have 60 days to challenge a claim."

Robert Saks is currently serving a 17-year prison sentence.
The other 15 co-conspirators pleaded guilty for their participation in the conspiracy.

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