Ben Bernanke is a victim of ID Theft

[devil21]

http://news.yahoo.com/s/afp/20090826/bs_afp/uscrimefinancebankbernankenewsweek_20090826232535



WASHINGTON (AFP) – Federal Reserve Board chairman Ben Bernanke was one of hundreds of victims of an identity fraud ring that stole over 2.1 million dollars from individuals and financial institutions, Newsweek magazine reported on Wednesday.

The magazine, citing court documents, said the central bank chief became entangled in the scam after a thief stole his wife's purse in August of last year and began cashing checks on the family's bank account.

The purse-snatcher was working for a crime ring that federal agents and police in several US states had been investigating for months, Newsweek said, adding that Bernanke's wife, Anna, was not specifically targeted.

It said the theft of the Bernanke checkbook became part of a wide-ranging identity-theft investigation by the US Secret Service and US Postal Inspection Service which had been previously underway.

Newsweek said the probe culminated in a series of arrests, criminal complaints, and indictments brought by federal prosecutors in Alexandria, Virginia.

One of the group's ringleaders, Clyde Austin Gray, known as "Big Head," pleaded guilty to conspiracy to commit bank fraud last month, Newsweek said.

Gray employed an army of pickpockets, mail thieves, and office workers to swipe checks, credit cards, military IDs, and other personal records, it said, citing his plea agreement and other court records filed in his case.

Bernanke, in a statement to Newsweek, said "identity theft is a serious crime that affects millions of Americans each year.

"Our family was but one of 500 separate instances traced to one crime ring," he said. "I am grateful for the law enforcement officers who patiently and diligently work to solve and prevent these financial crimes."

Couldn't have happened to a nicer guy. How's that easy credit working out for ya now?

[Matt Collins]

No such thing as identity theft. There is identity fraud, but ID theft is a misnomer.

[RSLudlum]

the central bank chief became entangled in the scam after a thief stole his wife's purse in August of last year and began cashing checks on the family's bank account.


He should know better, he's one of the biggest scammers in the US. If he's so damn brilliant, why the hell didn't he notify the bank that checks were stolen and put a stop payment on them or close the checking account? It's not that damn hard, I've had to do it before.

[ArchPaul]

http://ignitionblog.files.wordpress.com/2008/07/identity_theft.jpg
http://www.identityguard.com/images/AboutIdentityTheftStatic.jpg
http://identityfort.com/wp-content/uploads/2007/12/identity-theft-risk-map.gif

[Liberty Star]

Anyone ever waorked with any of the major credit reporting agencies that sell cedit report alerts and protections? If you call them, their call center in other countries seem to pass SSNs like cookies opening a whole lots of holes for data theft.

Since these same credit reporting companies are making big money by selling "protection" products with the pitch that more and more people are becoming victims daily, what incentive do they have to make such ID thefts less likely? They would be making less money if there were fewer cases of ID theft and most people felt they didn't need their protection services. So who's watching these companies operations and call centers in other countries?

[buffalokid777]

He should know better, he's one of the biggest scammers in the US. If he's so damn brilliant, why the hell didn't he notify the bank that checks were stolen and put a stop payment on them or close the checking account? It's not that damn hard, I've had to do it before.

Good Point!

We are so screwed. I wonder what Bernake's IQ is, I'm betting lower than most would think.

You can read a ton of books about the great depression, but does that make you an expert if your IQ is low enough to only have partial understanding of what was read?

[acptulsa]

Well, now he knows what it feels like. His company stole the name 'Federal' ninety-six years ago, and we've been getting robbed ever since.

[dude58677]

http://news.yahoo.com/s/afp/20090826/pl_afp/uscrimefinancebankbernankenewsweek

[RonPaulwillWin]

Who the hell would want to fill his shoes?

[Working Poor]

I wonder when Bernake will admit his wrong doing...

[tpreitzel]

And the fraudulent system of paper assets promotes the concept of identification. Who needs ID if one's using hard assets as the US Constitution mandates? Unfortunately, derivatives of hard assets won't cut the mustard, either, as far as eliminating the need for ID. One either has hard assets of accepted value or they don't. No paper. No conversion. No ID. Buy a gun. Whether we like it or not, only hard assets of universally accepted value are suitable for a free, prosperous people. Spare the earth and let the excess of inflated monetary systems die. ;)

[satchelmcqueen]

doesnt bernenke steal from us all everyday? what he looses, he will just reprint.

[mport1]

Fed chairman victim of identity fraud ring: Newsweek


I would say that is much less serious than the monetary fraud he perpetrates on all Americans.

[Throwback280s]

The US Treasury is also a victim of identity theft. Apparently, some group called the Federal Reserve took it.

[anaconda]

This is ironic as hell considering the Fed is stealing people blind on a daily basis.

[DFF]

the us treasury is also a victim of identity theft. Apparently, some group called the federal reserve took it.

lol!!!! :d

[FrankRep]

Fed’s Bernanke a Victim of ID Theft (http://www.thenewamerican.com/index.php/usnews/crime/1763)


Steven J. DuBord | The New American (http://www.thenewamerican.com/)
August 28, 2009


While the Fed fights efforts to air its dirty laundry, Fed Chairman Ben Bernanke has had his own personal bank account information compromised by an identity-theft ring, AP wrote (http://www.google.com/hostednews/ap/article/ALeqM5gCE_XZbRKPEvxxtlIjPX7LBMrlnAD9ABHUK00) on August 27. Watch the video below for the story in brief:

YouTube - Fed Chief Ben Bernanke Victim of Identity Theft (http://www.youtube.com/watch?v=UiOsVSaTFL8)

It all began in August 2008 when Bernanke’s wife, Anna, had her purse stolen while she was at a Capitol Hill Starbucks. Within the purse were her Social Security card, checkbook, credit cards, and IDs.

Only days after the theft, someone began cashing checks on the Bernanke’s account. Authorities have since identified the alleged ID thief as George L. Reid of Washington, D.C. He was only part of a larger ID-theft ring though. The suspected ringleader, Clyde Austin Gray Jr. of Waldorf, Maryland, pleaded guilty in a federal court on July 22.

Gray apparently hired pick pockets and purse snatchers to steal personal information, such as what happened to Anna Bernanke. He then used the info obtained to construct counterfeit IDs for the coconspirators who would be executing the fraudulent bank transactions. As the mastermind behind the whole scheme, Gray ultimately got a cut from the stolen money.

The fraud inflicted losses totaling more than $2.1 million on at least 10 financial institutions. According to AP: “The banks bore primary responsibility for the losses and the victims’ accounts, including the Bernankes, were most likely made whole.”

Agencies investigating the case include the U.S. Postal Inspection Service, the Secret Service, and the D.C. police. They have identified 10 defendants so far. The crime ring targeted victims in D.C., Maryland, Virginia, Illinois, and elsewhere. “Part of the scheme involved checks stolen from the Combined Federal Campaign for the National Capital Area, an official federal government-sponsored charity,” AP noted.

“Identity theft is a serious crime that affects millions of Americans each year,” Ben Bernanke said in a statement. “Our family was but one of 500 separate instances traced to one crime ring. I am grateful for the law enforcement officers who patiently and diligently work to solve and prevent these financial crimes.”

One can only second Bernanke’s thanks to our nation’s law-enforcement officials as they work to protect our identities and hard-earned income. But now the Fed itself needs to come clean and open its records to prove that it is not involved in shady dealings with taxpayer money. Perhaps the Fed fears those same law enforcement officials would not look so favorably upon its operations.

The Fed’s policies affect every single American, giving its monetary manipulations a more far-reaching effect than all the cases of identity theft combined. Surely the American people deserve to know how their pockets are being picked by this unconstitutional institution.


SOURCE:
http://www.thenewamerican.com/index.php/usnews/crime/1763

[dude58677]

Whoever did it, deserves a medal and the cash that they took.

[amisspelledword]

http://www.newsweek.com/id/213696

If ever there were living proof that identity theft can strike the mighty and powerful as well as hapless consumers, look no further than the nation's chief banker: Ben Bernanke. The Federal Reserve Board chairman was one of hundreds of victims of an elaborate identity-fraud ring, headed by a convicted scam artist known as "Big Head," that stole more than $2.1 million from unsuspecting consumers and at least 10 financial institutions around the country, according to recently filed court records reviewed by NEWSWEEK.

sorry if this is a double-post

[Cowlesy]

merged 3 Bernanke ID Theft threads.