BOSTON (AP) — Federal investigators have arrested three individuals on charges of conspiring to deceive banks into allegedly processing more than $150 million in credit and debit card payments on behalf of merchants involved in prohibited and high-risk businesses. A fourth individual remains at large. Three were executives at Allied Wallet, Inc., a payment processing company headquartered in Los Angeles that served merchants doing business over the internet. Investigators said defendants allegedly created shell companies, designed fake websites that purported to sell low-risk retail and home goods and miscategorized the true nature of the transactions.
BE PART OF THE CONVERSATION
News Channel 3-12 is committed to providing a forum for civil and constructive conversation.
Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here
If you would like to share a story idea, please submit it here.