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Man sentenced to 33 months in prison for participating in multimillion-dollar credit and gift card fraud scheme

NEWARK, NJ – A New York man was sentenced Monday to 33 months in prison for participating in a scheme to buy and sell over $2 million in stolen property, according to acting U.S. Attorney Rachael A. Honig.

James Olla, 29, of Brooklyn previously pleaded guilty by videoconference before U.S. District Judge John Michael Vazquez to a superseding indictment charging him with conspiracy to sell, receive or possess stolen goods.

According to documents filed in this case and statements made in court, from January 2014 through June 2015, Olla and others procured stolen information related to credit cards belonging to various individuals, including victims living in New Jersey. Using this stolen information, Olla and his conspirators obtained gift cards from various retailers and then sold the cards on the streets of Brooklyn and elsewhere, often for large sums of cash. In total, Olla’s scheme resulted in losses to financial institutions of $2,041,977.

In addition to the prison term, Judge Vazquez sentenced Olla to three years of supervised release, ordered him to forfeit certain property, and pay restitution of $689,124, Honig said.

Jay Edwards

Born and raised in Northwest NJ, Jay has a degree in Communications and has had a life-long interest in local radio and various styles of music. Jay has held numerous jobs over the years such as stunt car driver, bartender, voice-over artist, traffic reporter (award winning), NY Yankee maintenance crewmember and peanut farm worker. His hobbies include mountain climbing, snowmobiling, cooking, performing stand-up comedy and he is an avid squirrel watcher. Jay has been a guest on America’s Morning Headquarters,program on The Weather Channel, and was interviewed by Sam Champion.

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