Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A ban on athletes using stamina-boosting gases - xenon and argon - came into effect on Monday. The World Anti-Doping Agency (WADA) said Hypoxia-Inducible Factor (HIF) activators Xenon and Argon have been added to the 2014 List of Prohibited Substances and Methods List following the required three-month notice period and UNESCO's communication to all States Parties. A recommendation to revise the British manufacturing growth eased further in August to its lowest level in 14 months as output and demand increased at slower rates, survey results from Markit Economics showed Monday. The Markit/CIPS Purchasing Managers' Index dropped to 52.5 from a revised 54.8 in July. Economists had expected the score to fall to 55.1 from July's original figure of 55.4. Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.