Sunday, October 08, 2006

A New (More Sophisticated) Fraud Approach Involving Call Centers

This didn't make much of a splash in the U.S. press, but is being reported in India. Three men (two of Indian origin) defrauded three U.S. companies for more than $19 million dollars in financing for call center operations.

The Press Trust of India is reporting:

Three men, including two of Indian origin, have been indicted by a US court on charges of fraud and money laundering.

Dinesh Dalmia, a key accused in the 2001 stock market scam, and New Jersey-based Ashish Paul were handed down a 16-charge indictment which alleges conspiracy to defraud three lenders - GE Capital Finance, CitiCapital Technology Finance and a leasing company.

The third man, William Dowling, faces ten charges for allegedly conspiring with them to launder money.

It is alleged that Dalmia controlled three New Jersey companies and using the alias Nick Mittal and approached the lenders from 2003 through 2005 seeking multi-million dollar financing through lease-financing contracts for computer equipment and telephone lists for call centers purported to be engaged in debt collection and telemarketing.

Press Trust of India article, here.

The article doesn't stipulate - whether or not - the "alleged" call centers were in India, but it makes one wonder?

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