What do these balls have to do with it?
The significance of these Tiffany & Company etoile ball
earrings (in 18k gold with diamonds in platinum, $1,600)
will become clear at the end of this story.
Iguosade Osahon had a good scam going. He went online and found personal information on potential victims. Reports don’t make it very clear how he got the data, but they say he found it by "trolling online data traffickers."
However he snagged the data, he did find names, birth dates and social security numbers. Of course, he was smart, and focused on people from wealthy zip codes, since they’d have more money to steal.
Then he leveraged that information and contacted the three credit reporting agencies – Equifax, Experian and TransUnion – and ordered each person’s credit report.
With that credit information, Mr. Osahon was able to gain access to his victim’s bank acounts and credit card accounts.
And he began stealing.
He ran his identity theft scam for three years, stealing $500,000.
He bought Rolex watches, Louis Vuitton bags and jewelry from Tiffany and Co. He also slummed it a bit and purchased expensive items from Bloomingdale’s, Target, Apple and Circuit City.
When he was finally caught, the 28-year-old, who was pulled over by police near the Brooklyn home he lives in with his mother, said his memorable line:
"What can I say? You have me by the balls."
Identity thief pleads guilty to stealing $500,000 to buy Rolex watches, designer bags, jewelry, New York Daily News>>
Alleged Identity Thief Used Credit Reports to Finance $500K Spending Spree at Louis Vuitton, Tiffany, DNA Manhattan Local News>>