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February 21

US authorities say they stopped major phone fraud

The Associated Press

CHICAGO — U.S. authorities say they've foiled a major debt-collecting scam that generated at least 8 million fraudulent calls from India since 2010 and bilked more than 10,000 victims all across the United States.

The Federal Trade Commission's Midwest director made the announcement today in Chicago.

Steven Baker says it's likely there are many other similar scams where callers pose as debt collectors and threaten victims with arrest if they don't pay. He calls the scam highlighted today "just the tip of the iceberg."

The owner of a California business is suspected of helping to manage the swindle and a federal judge ordered he halt his operations.

Baker says some victims were so intimidated by threats of arrest they agreed to pay even though they knew they had no debts.

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