A Washington man is charged with racking up more than $75,000 in fraudulent charges over the past year by applying for and using credit cards for businesses he claimed to work for. The U.S. Attorney’s Office says the man — Shane Michael Renecker, 33, used the credit cards to buy computers and other items at Best Buy, CompUSA and Lowe’s, the complaint says. He made dozens of purchases before he was arrested this month at his Everett home.
When Washington State Patrol detectives began investigating, they talked with fraud investigators at HSBC, the national bank that handles credit-card accounts for Best Buy and CompUSA. The bank investigator said he had been looking for Renecker for more than a year, court documents say. Investigators at Household - HSBC Watch consumer advocates said unnamed sources reported that Best Buy agreed to absorb the cost of fraudulant accounts if said accounts were opened without proper ID, a violation of the Patriot Act. “We have an inordinate number of consumer reports that mention HSBC RS, and HSBC NV, on a persons credit report when they had no relationship with HSBC” said the group. “Best Buy might write off an account but the unsuspecting person whose identity was stolen is the victim” the group went on to say.
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