Alleged defrauders arrested at Borgata for credit card fraud scheme

TAGs: borgata, Casino News, New Jersey, Tracey Coleman, Wendell Wallace

borgata-atlantic-cityTwo individuals from New York are in big trouble if the allegations against them are proven to be true.

The men, identified as  Tracey Coleman, 46, of Rosedale, N.Y., and Wanell Wallace, 23, of Fresh Meadow, N.Y  find themselves in a deep hole in New Jersey after getting arrested last Saturday at the Borgata Casino in Atlantic City (it just can’t seem to get out of trouble, can it?) and charged with credit card fraud conspiracy. Apparently, both Coleman and Wallace tried to fraudulently charge more than $500,000 using stolen account numbers in a scheme that involved CVS Caremark drug stores, “Vanilla reload cards”, and money with a lot of 0’s on it.

Rosedale and Wallace have each been charged  with one count of conspiracy to produce, use, and traffic in one or more counterfeit access devices, with intent to defraud, in a manner affecting interstate commerce. On top of that, they’re also facing one count of conspiracy to do so during any one-year period and obtaining $1,000 or more.

The complaints against the two were announced by U.S. Attorney Paul J. Fishman earlier today with both expected to appear before U.S. Magistrate Judge Joel Schneider in Camden federal court to answer the charges.

According to unsealed court documents, Coleman and Wallace fraudulently obtained funds, depositing said funds into American Express accounts in their names by using numerous credit card account numbers issued by Capital One Bank, which were also fraudulently obtained.

From there, Wallace purchased prepaid debit cards in CVS Caremark drug stores throughout the state. Using these prepaid debit cards, the two were able to deposit the funds into their American Express accounts.

Both Coleman and Wallace are still “presumed innocent unless and until proven guilty” but should they be found guilty, both stand to receive a maximum potential penalty of five years in prison to go with a $250,000 fine, or twice the gross gain or loss from the offense.


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