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.