Charles Largent of Plumas Lake, California knew a good deal when he saw one.
Logging onto various brokerage sites, such as E-Trade and Charles Schwab, he discovered that, in order to verify his bank account, the brokerages would make a tiny deposit into his account --- anywhere from 1c to $2.
So he began registering fake online accounts in order to pocket those test deposits.
From November 2007 until May 2008, he opened no fewer than 58,000 accounts, all with fake names and supposedly earned somewhere close to $50,000.
He has since been caught, has pleaded guilty to computer fraud and now faces up to five years in federal prison.
Friday, May 22, 2009
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