ID Theft Ringleader Gets Prison Sentence Of 16+ Years

Tampa resident and his gang had cheated more than 1,000 people and 35 financial institutions causing loss of $700,000.

Michel Lermos-Hernandez of Tampa has been sentenced to more than 16 years in prison for running a credit-card fraud scheme that caused around $700,000 in financial losses to more than 1,000 individuals and 35 financial organizations. He was also ordered to pay compensation of around $714,383 to his victims. His co-conspirators were given jail terms as well.

According to the US Department of Justice (DoJ), Lermos-Hernandez stole credit card data of customers using keyloggoers on payment-card terminals at the International Mall in Tampa and used the account numbers to create fake cards. These cards were then used by his co-conspirators to purchase electronic and other items which were then sold at discounted prices.

In a raid on his residence in 2013, authorities recovered $14,515 in cash and several counterfeit credit cards, among other things. A Mercedes-Benz sedan worth around $130,000 was also seized from his possession, says the DoJ.

Read details here.

Dark Reading’s Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

More Insights