Wednesday, 12 February 2014 04:29

U.S. v. Sang-Hyun Park et al.: NJ Identity Fraud Ring

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Sang-Hyun Park 48, received a sentence of 12 years in prison for his role as the ringleader of a huge identity fraud ring that resulted in over $4 million in losses to credit card companies, banks, and additional lenders.

Park received 120 months for conspiracy to manufacture fake identity documents, wire fraud conspiracy, money laundering, and conspiracy to defraud the United States. Park also received a 24-month sentence for aggravated identity theft, which will run consecutively, and was ordered to pay $4.8 million in restitution. He is likely to be deported to his homeland of South Korea after his release from prison.

Park arrived in the U.S. in the 1990s and lived in Palisades Park, New Jersey, near the George Washington Bridge when he was arrested in 2010. Court documents state that Park masterminded a sophisticated identity theft operation that purchased Social Security cards that had been fraudulently obtained from Asian immigrants who worked in Guam, American Samoa, and Saipan between 2008 and 2010.

Once purchased, the cards were resold to Korean immigrants in the U.S. who then utilized them to apply for drivers' licenses and to get credit cards. Defendants would "max out" the cards, raise the debt limit by paying them off from bank accounts created with the fake identity documents and the "max out" the new line of credit before checks would bounce.

Park was one of over 50 individuals facing charges in connection with the scheme.

Resources

"'Ringleader' of ID fraud ring sentenced in NJ," David Porter, Associated Press

U.S. v. Sang-Hyun Park et al., U.S. District Court for the District of New Jersey, Criminal Complaint

U.S. v. Sang-Hyun Park et al., U.S. District Court for the District of New Jersey, Information

 

Read 3413 times Last modified on Wednesday, 12 February 2014 04:33
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