CHICAGO (AP) _ Authorities say 19 of 29 suspects in Illinois and Indiana are under arrest in an alleged “card cracking'' fraud scheme that originated Chicago's South Side and is spreading.
They say it sometimes has links to rap music. Chicago U.S. Attorney Zachary Fardon said Wednesday the schemers deposited bad checks in a third party's account, then withdrew cash before banks determined something was wrong. Total losses were more than $1.7 million.
Four Indiana-based suspects belong to the rap group, “RACK Boyz.'' They allegedly posted videos bragging about the cash the scheme generates and seeking to enlist others to participate.
Social media sites were allegedly used to persuade people to disclose their banking information, targeting several college students. In many cases, Fardon says it should have been clear criminal activity was involved.
