Store owners sentenced in fraud scheme. The
owners of a New Jersey jewelry store who used the business to further one of the largest credit card fraud schemes ever charged by the U.S. Department of Justice have been sentenced.
Vijay Verma, 49, received a 14-month prison term Monday, and Tarsem Lal, 78, got a year of home confinement. The men had pleaded guilty. They’ll forfeit $450,000.
Prosecutors say the men created and used more than 7,000 false identities to obtain tens of thousands of credit cards. The scheme caused more than $200 million in losses to businesses and financial institutions. The Associated Press