Tuesday 29 July 2014

INCREDIBLE! Fraudster bought $309K worth of Apple products without paying a single penny



24-year-old Sharron Laverne Parrish Jr. has been charged with wire fraud, buying products worth $309,768 over 42 purchases made in 16 different states since December 2012, without actually having the money to pay for them, Yahoo news reports.

The Secret Service claims that he tricked Apple retail staff into accepting purchases made with credit and/or debit cards that didn’t have any funds by using a clever, simple financial trick.

The trick— which is commonly referred to as “forced sale,” “forced post” or “forced code” — allows customers whose cards are declined in a store to still make the purchase. All the merchant has to do to go forward with the sale is to call in the bank that issued the card and ask for a special authorization code, creating a record of that override.

When his cards were declined in Apple stores, Parrish pretended to talk to his bank and offered Apple clerk such authorization codes that were not actually real. However, he was able to offer precise numerical codes when it comes to the number of digits they contained.

In addition to Apple stores, Parrish also tried to defraud a car rental company and a hotel in Seattle.

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