A 24-year-old Apple Store employee in Queens, New York was recently charged with fraudulently purchasing nearly $1 million in Apple Store gift cards, and attempting to sell them at a reduced price.
The appropriately-named Ruben Profit allegedly used fraudulent American Express and Visa gift, debit, and pre-paid credit cards to purchase Apple gift cards at the Elmhurst Mall Apple Store he was employed at. Profit would then allegedly sell the Apple gift cards for 10% of their value. Between August and October of this year, Profit purchased $997,000 worth of Apple gift cards using the fraudulent credit and debit cards.
Profit reportedly manipulated the magnetic strip on the American Express and Visa cards to emulate other cards. His scheme was discovered in October when Apple began receiving charge-back notifications, which occur when fraudulent transactions are detected. Profit was subsequently arrested, and was in possession of 51 manipulated American Express and Visa cards, and seven Apple gift cards with $2000 each loaded on them.
Profit was arraigned on Friday on charges of second-degree larceny, first-degree possession of a forged instrument, and third-degree criminal possession of stolen property. He is currently being held on $20,000 bail, and is facing a maximum prison sentence of fifteen years if found guilty.
Read Next: Apple’s ResearchKit Now Tackling Autism