Corporate Identity Thief Raises The Stakes In Business Fraud
In a sign of identity theft maturing as a crime, the latest evidence
points to an alarming new level of fraudulent behavior.
It seems, in Southern California, a man stands accused of committing
$450,000 in identity theft in scamming at least 8 companies for their
goods and services.
According to the O.C. Register:
"Armed with a fake identification, Brown, 40, allegedly
filed paperwork to open corporations and rented offices.
He then took out corporate lines of credit from banks or
corporate credit cards and ran up hundreds of thousands
of dollars in debt. The goods, such as computers from
Hewlett-Packard or office furniture from Home Depot,
would be shipped to the offices, said Orange County
prosecutor Mark Sevigny. Authorities suspect Brown
sold the goods."
In a sign this evolved form of identity theft is a foreboding new
development, the story continues....
"It's a phenomenon that is a reasonably new development..."
"Why steal someone's identity when in a single stroke,
you can take a company down for $50,000 or $100,000?"
"It involves a sophisticated criminal who is hard to
Along the path towards eventually being apprehended by authorities,
this identity thief even caused a Northern California golf business
to close shop. It appears the identity thief ran up over $100,000
in fraudulent bills due payable to the real business owner.
So, our tip for today is for those business owners out there who think
identity theft only happens to hapless individuals who lose their check
Get you and your company protected with identity theft insurance.
It is also a good idea to also get your personal profile scrutinized for
any signs an identity thief may have already used your good name
to file bogus company incoporation paper work.