Sep
1
2009
Federal Reserve Chairman is Victim of Identity Theft
Author: TrustedIDAccording to USA TODAY, no one is safe from identity theft, not even the chairman of the Federal Reserve.
Chairman Ben Bernanke’s personal checking account was compromised in an identity-theft scheme after his wife’s purse, which contained her Social Security card, checkbook, credit cards and IDs, was stolen last August. Shortly after, a thief began cashing checks on their bank account. The thefts helped fuel an ongoing investigation into a major identity theft ring.
The ring was responsible for more than $2.1 million in fraudulent charges, which involved at least 10 financial institutions. Clyde Austin Gray Jr., a suspected ringleader in the scams, pleaded guilty on July 22 in a federal court in Virginia. Authorities believe that Gray hired pick pockets then made counterfeit IDs so that they could conduct fraudulent bank transactions.
“Identity theft is a serious crime that affects millions of Americans each year,” Bernanke said in a statement. “Our family was but one of 500 separate instances traced to one crime ring. I am grateful for the law enforcement officers who patiently and diligently work to solve and prevent these financial crimes.”
