University of Miami student charged in multi-million-dollar fraud scheme
A 21-year-old University of Miami student is facing serious charges brought forth by the U.S. Department of Justice for his alleged involvement in a multi-million-dollar fraud scheme.
He is Matthew Frederic Bergwall who hails from Coral Gables.
The allegations: Hacking and deceit
Bergwall was charged with conspiracy to commit computer and mail fraud, as well as substantive mail fraud.
It is further reported that he allegedly hacked a multi-national shipping, receiving, and supply chain management company.
According to a release from U.S. Attorney Roger B. Handberg, Bergwall, and his co-conspirators used these accounts to enter fraudulent tracking information for merchandise transported by the company on behalf of retailers located across the country.
A complex web of deception
This cunning ploy allowed the group to pursue full refunds from unsuspecting victim-retailers while still maintaining possession of the merchandise- which included electronics, jewelry, designer clothing, and accessories.
The staggering losses: High-end goods vanish
The scope of the fraud scheme is staggering, as it reportedly resulted in a $3.5 million loss in product and sales revenue for the affected retailers.
If convicted on all counts, Bergwall could face up to 45 years in federal prison.
