New Milford Brothers Charged with Theft, Fraud for Allegedly Stealing Bitcoin Currency
Two New Milford NJ brothers allegedly stole credit card information and then made fraudulent purchases over the Internet.
According to the Bergen County Prosecutor’s Office, the suspects stole credit card data and then used the information to purchase bitcoins, an online currency. Once the suspects had the bitcoins, they reportedly completed Internet transactions.
However, the online deals were allegedly fraudulent. Authorities said that the suspects contacted their bank to reverse the transactions; the suspects then kept the cash, which they allegedly used to buy gym memberships in Paramus, NJ.
The suspects allegedly got away with more than $10,000.
After finding out about suspects’ alleged fraud, the Paramus Police Department started an investigation. Paramus police were assisted officers with the New Milford Police Department and the Glen Rock Police Department, as well as detectives with the Bergen County Prosecutor’s Office White Collar Crimes Unit.
The suspects, a 24-year-old male and his 22-year-old brother, were ultimately arrested and charged with several counts of theft and credit card fraud.
After being placed under arrest and processed, the older brother was remanded to the Bergen County Jail in Hackensack, NJ. He was being held at the correctional facility on a $110,000 bail amount. Meanwhile, the younger brother was processed and later released on his own recognizance.
To learn more about this case, see the Patch.com article, “Bergen County Brothers Arrested for Allegedly Stealing $10,000 in Virtual Currency: Prosecutor.”