logo
Plus   Neg
Share
Email

Lexington Man Convicted For Credit Card Fraud

The U.S. Attorney's Office for the District of Massachusetts said Friday that A Medford magic store owner was convicted in federal court for making more than $560,000 in unauthorized charges to the credit card of a long-time customer and for trying to cover up the crime afterward.

Harry Levy, 61, pleaded guilty before U.S. District Judge Patti Saris to one count of credit card fraud and one count of making false statements and false records in a federal investigation.

At today's plea hearing, the prosecutor told the Court that had the case proceeded to trial, the Government's evidence would have proven that from July 2009 through May 2011, Levy, owner of Hank Lee's Magic Factory in Medford, made approximately $561,927 in unauthorized charges to the American Express card of a victim who was a long-time customer of Levy's.

Levy made those charges himself, but when the victim's employees discovered the fraud, Levy claimed that it had been carried out by foreign customers who had used the victim's credit card to pay for merchandise they had ordered. Levy even provided the victim some foreign invoices to bolster this story.

Levy then repeated this story to federal investigators multiple times, although he wavered between claiming whether or not the victim had authorized the purchases and whether or not the store had shipped the merchandise, the Attorney's Office said.

As a result of Levy's repeated false statements and false documents, agents searched the magic store in February 2012, where they discovered additional evidence that Levy's story was false, the Attorney's Office noted.

Sentencing is scheduled for July 20, 2012. Levy faces up to 15 years in prison for credit card fraud and five years for making false statements and false records, to be followed by three years of supervised release. He faces an order of forfeiture, restitution and a fine of $250,000 or twice the gain or loss, whichever is highest, the U.S. Attorney's Office added.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT