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Eleven Fraudsters Charged in $3M ‘Bust Out’ Operation

Federal agents busted an elaborate credit card fraud scheme this week involving eight Queens men and three others who allegedly used fake identities to obtain credit cards and mortgages — and steal $3 million in cash and merchandise.

Federal prosecutors said the 11 defendants were named in five criminal complaints connected to the “bust out” operation, according to US Attorney Richard Donoghue. Three of the suspects were additionally booked for concocting a money laundering operation designed to cover the scheme’s tracks.

“As alleged, the defendants operated a ‘bust out’ scheme using fraudulently obtained credit cards to finance expenses, ranging from furniture to real estate, and totaling $3 million,” Donoghue said. “Together with our law enforcement partners, we stand committed to protecting financial institutions from fraud…”

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