22 May 2015

Guilty plea in Wal-Mart phishing case

11 September 2009  |  6201 views  |  0 ID Fraud

A member of a phishing gang that stole financial information from thousands of people and used it to open credit accounts at Wal-Mart stores has pleaded guilty.

Tien "Tim" Truong Nguyen, from California, pleaded guilty to conspiracy, access device fraud, aggravated identity theft and being a felon in possession of a firearm, the day before his case was set to go to trial.

Nguyen was arrested in 2007, accused of setting up Web sites designed to look like they belonged to banks and other firms like PayPal. He then sent out phishing e-mails directing victims to the sites, where they were asked to enter sensitive information.

The scam netted him, and Eastern European accomplices, thousands of credit and debit card numbers, social security numbers and other personal identification information.

Prosecutors say he then provided the information to third parties who used it to obtain "instant credit", issued by GE Capital, at kiosks in Wal-Mart stores in Northern California. Nguyen and others used the instant credit to buy gift cards and merchandise worth more than $200,000.

They also used the stolen data to make fake credit and debit cards to make fraudulent purchases.

Authorities say that on Nguyen's computer, they found traces of software related to phishing, tens of thousands of complete identities, and chat logs in which he and his co-conspirators discussed their crimes.

Nguyen is scheduled to be sentenced in November. A co-conspirator, Stefani Ruland is already serving a prison sentence, while another, Ryan Price, is awaiting trial.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

26 August, 2009
29 June, 2009
14 April, 2009
10 October, 2008
15 August, 2008
24 July, 2008
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Cash overtaken by non-cash payments in the...
6164 views comments | 46 tweets | 31 linkedin
MasterCard launches personal payments serv...
5585 views comments | 15 tweets | 26 linkedin
US banks bid to crack down on 'card cracki...
5357 views comments | 8 tweets | 10 linkedin
UK opts out of European online payments se...
5007 views comments | 17 tweets | 14 linkedin
Metro Bank to offer consumer loans via Zop...
4486 views comments | 28 tweets | 19 linkedin

Featured job

£excellent basic with £200,000 OTE + Benefits
London

Find your next job