Carmel man at center of FBI raid gained $2M fraudulently through PayPal, eBay
CARMEL, Ind. (WISH) — A Carmel man is facing 28 federal charges, including wire fraud and aggravated identity theft, after he allegedly used PayPal and eBay to fraudulently gain $2 million, authorities say.
Tuong Quoc Ho, 32, of Carmel, was arrested Thursday after a raid at his home in the 11500 block of Mansfield Place. That’s near the intersection of Towne Road and West 116th Street.
The FBI along with the Carmel Police Department carried out a search of Ho’s home Thursday morning.
The case started in October 2018: Carmel police arrested Ho on charges of forgery, theft, corrupt business influence, fraud, and synthetic identity deception.
“Fraud cannot and will not be tolerated at any cost, especially when it involves identity theft,” said United States Attorney Josh Minkler in a release sent to News 8. “This can devastate people’s credit, which often times takes them years to repair. This office is committed to prosecuting such crimes to the fullest extent of the law. Today Mr. Ho’s streak of fraud and identity theft comes to an end.”
Investigators say more than 500 PayPal accounts were found linked to Ho’s personal bank accounts. Ho also used stolen credit card numbers and personal information of others in order to buy and sell merchandise, including electronics.
Ho is facing charges of wire fraud, aggravated identity theft, credit card fraud, money laundering and other federal offenses. Ho could face up to 20 years in prison if convicted of these crimes.
A news release from the U.S. Attorney’s Office states Ho and other people overseas used the internet to get personal information of hundreds of people around the the world. Ho then allegedly used that information to fraudulently open PayPal and eBay accounts and link those accounts to his bank accounts and transfers money. Investigators found more than 500 PayPal accounts linked back to Ho’s personal bank accounts. The indictment also states ho used eBay to advertise and sell items bought with stolen credit card information.
Minkler’s office said Ho sent the money to friends and family in Vietnam, and also used the money to buy his Carmel home, among other things.