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New York man admits credit and gift card fraud scheme

NEWARK, NJ – A New York man Thursday admitted he defrauded credit card companies of hundreds of thousands of dollars, according to U.S. Attorney Craig Carpenito.

James Olla, 28, of Brooklyn, pleaded guilty by videoconference before U.S. District Judge John Michael Vazquez to one count of 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 in Brooklyn and elsewhere, often for large sums of cash.

The count of conspiracy to sell, receive or possess stolen goods carries a maximum potential penalty of five years in prison.

Sentencing is scheduled for March 18, 2021.

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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