NEWARK, N.J. – A Brooklyn man is facing up to five years in federal prison after admitting to a sprawling credit card and gift card fraud scheme that ripped off companies for hundreds of thousands of dollars. James Olla, 28, pleaded guilty by video conference to one count of conspiracy to sell, receive, or possess stolen goods, U.S. Attorney Craig Carpenito announced today.
The scheme, which ran from January 2014 through June 2015, involved the procurement of stolen credit card information belonging to victims across the country, including residents of New Jersey. Olla, along with his co-conspirators, didn’t just swipe numbers; they weaponized them, turning stolen data into easily-spent gift cards.
These weren’t small-time prepaid cards. Olla and his crew systematically obtained gift cards from various retailers, then fenced them in Brooklyn and other locations, often for substantial cash payments. The operation was a slick, efficient pipeline for turning stolen credit into untraceable spending money. Federal investigators have yet to reveal the full extent of the losses, but confirm they run into the hundreds of thousands.
The guilty plea comes after a joint investigation led by the FBI, the U.S. Postal Inspection Service, and the U.S. Secret Service. Special Agent in Charge George M. Crouch Jr. (FBI Newark), Acting Inspector in Charge Raimundo Marrero (USPIS), and Special Agent in Charge Mark McKevitt (USSS) all contributed to unraveling the scheme. This wasn’t a solo operation; Olla had help, and investigators are likely still pursuing other individuals involved.
Olla’s defense team has remained silent since the indictment. The prosecution, led by Cybercrime Unit Chief David W. Feder and Assistant U.S. Attorney Joshua L. Haber, will be seeking a stiff sentence. The one count of conspiracy to sell, receive or possess stolen goods carries a maximum potential penalty of five years in prison.
Sentencing is scheduled for March 18, 2021, giving Olla time to consider his choices and perhaps cooperate further with investigators. The U.S. Attorney’s Office hasn’t ruled out additional charges or the pursuit of Olla’s accomplices. This case serves as a stark reminder that credit card fraud isn’t a victimless crime, and federal agencies are aggressively targeting those who profit from stolen financial information.
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Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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