119 Bank Accounts | Ramblings of an e-trader

Sunday, 6 March 2011

119 Bank Accounts

Checking the news this morning, I came across a criminal case committed by an Australian teenage boy who opened 119 bank accounts linked to his numerous eBay and PayPal accounts to sell goods that he had no intention to ship. This happened in 2009.

While this sort of fraud is nothing new, I do wonder how he could open 119 bank accounts and multiple eBay and PayPal accounts. Does this mean that he had with him false identifications as well?

While he managed to scam unsuspecting eBay buyers of $40,000, it's funny that an error at a bank caused $2 million to be deposited into one of the fake bank accounts that he managed. He was reported to the police when he tried to access the funds.

Well, it would not have been easy to nab him with his elaborate network of accounts but he foolishly kept a blog, detailing his scheme. What a joke, isn't it?


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