Vegas Man Sought In Fraud Ring
(LAS VEGAS, KXNT)–Federal authorities are seeking a Las Vegas man who is still at large after authorities began arresting more than 50 people indicted in a massive fraud case that involved stolen identities and phony tax refund returns.
Two men were arrested in Las Vegas. A third person, Sedrak Movsesyan, is still being sought.
Authorities say the fraud operation stole the identities of more than 2,000 people and filed bogus tax refund returns with IRS which totaled more than $20 million. IRS paid more than $7 million in refunds.
Anthony Orlando, an IRS criminal investigator, tells KXNT the Las Vegas part of the operation essentially involved a classic check-kiting scheme. Bank of America was targeted, and defrauded out of more than $600,000.
Many of the 55 persons named in indictments handed down by U.S. Attorneys in southern California are young adults from Russia and former Soviet bloc nations who are in the United States on student visas.