Carabus Admits Guilt in Bank Fraud

The AP is reporting this morning that Federal prosecutors in New Jersey say that a Romanian man, 42-year-old Alin Carabus has pleaded guilty to committing bank fraud. Prosecutors say 16 people were charged in the “skimming” scheme. They stole bank account information by installing secret card-reading devices on ATMs throughout New Jersey, New York, Connecticut, Florida, and elsewhere. The information was used to create thousands of fraudulent ATM cards, which were used to withdraw millions of dollars from customers’ bank accounts. The scheme defrauded institutions out of at least $5 million overall and impacted thousand of customer. Carabus faces up to 30 years in prison when he’s sentenced February 23.