Store own­ers sen­tenced in fraud scheme. The

The Denver Post - - BUSINESS -

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

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