CARMEL, Ind. (WTHR) — The FBI and Carmel police raid on Thursday was connected to a $2 million fraud.
Tuong Quoc Ho, 32, is accused of an elaborate credit card scheme using eBay and PayPal.
He is now facing 28 federal counts including wire fraud, aggravated identity theft, credit card fraud and money laundering.
According to court documents, Ho was able to get names, addresses, social security numbers and credit card numbers for people. He would then create accounts on eBay and PayPal using those names.
From about 2013 through August of 2019, Ho was able to use bank accounts to the fraudulent PayPal accounts to receive more than 500 deposits totaling more than $2 million.
In some cases, Ho would purchase items on eBay with fraudulent accounts he had setup or credit cards and have those items sent to his home. He would then resell them.
When PayPal would question an account, Ho would get fraudulent documents on the internet to keep the accounts open. That information included bills, passports and social security cards.
Ho would then transfer the money from the PayPal accounts into his personal bank accounts.
Ho then wired money to family and friends in Vietnam, and used the money for personal expenses, including the purchase of his home in Carmel.
On Feb. 21, the FBI and Carmel police served a federal search warrant at his home near 116th and Towne Road.
“These charges are the result of a complex international investigation conducted jointly by FBI Indianapolis’ Cyber Intrusion Program and the Carmel Police Department working in partnership to put an end to Mr. Ho’s illegal activity that targeted hundreds of victims,” said Special Agent in Charge Grant Mendenhall, FBI Indianapolis.
Ho faces up to 20 years’ imprisonment, three years of supervised release and a maximum fine of $250,000.