A former Apple Retail Store employee who allegedly re-coded American Express and Visa credit, debit, and gift cards and used them to purchase Apple gift cards is being charged with grand larceny, among other crimes. Prosecutors allege that a 24-year-old man, formerly an employee at the Apple Store at Elmhurst mall in New York, used the fraudulent cards to obtain Apple gift cards totaling $997,000.
From NBC New York:
An investigation launched in October when Apple started getting notifications of charge-backs, which indicate fraudulent transactions, on the Apple gift cards Profit allegedly purchased.
At the time of his arrest, Profit was allegedly in possession of 51 Visa and American Express gift cards with magnetic strips that had been fraudulently re-encoded with credit card information. He also allegedly had seven Apple gift cards worth $2,000 each.
The fraudulent purchases reportedly took place between August and October of this year. The man says that a third party paid him for every $2,000 card he delivered. If convicted, he faces jail time of 15 years.
Source: NBC New York