Identity Theft Ring Busted at Saks Fifth Avenue

Authorities have busted an identity theft ring operating out of Saks Fifth Avenue’s flagship store in Midtown.

The Manhattan District Attorney announced the indictment of five of the store’s employees accused of taking part in the ring.

They are facing a combined 66-count indictment.

Charges include grand larceny, identity theft, and criminal possession of stolen property.

The district attorney accuses the group of using the stolen identities of more than 20 Saks credit card holders to purchase more than $400,000 of designer shoes and handbags dating back to April.

He says the stolen merchandise was then either resold or returned to Saks for store credit.

“Time after time again we see that insiders at companies enable theft to occur,” said Manhattan DA Cyrus Vance Jr. “I think the point is that these institutions who try to do a good job servicing their customers need to have protocols in place so that they can assess whether their internal compliance and security is up to snuff.”

The district attorney says the Secret Service and the Department of Homeland Security contributed to the investigation.

Article source: http://www.ny1.com/content/news/216765/identity-theft-ring-busted-at-saks-fifth-avenue/

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