A New York man is facing charges related to EBT fraud in South Florida, authorities said.
Thajanhney Tapahrelle Thomas, 19, of Brooklyn, was arrested by Davie Police on Tuesday on charges including unlawful use of food assistance benefits, organized scheme to defraud, communications fraud, criminal misuse of personal information, use of scanning device, skimming device, or reencoder to defraud, possession of a skimming device, and petit theft, Broward jail records showed.
Florida Attorney General James Uthmeier announced the arrest in a news release Wednesday.
Uthmeier said a Walmart employee had recognized a U-Haul vehicle in the parking lot that had matched a recent alert concerning fraudulent EBT purchases of baby formula.
Two people, including Thomas, got out of the vehicle and Thomas was seen buying several containers of baby formula using two separate EBT cards, Uthmeier…
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.