James Olla, Conspiracy to Sell Stolen Goods, New Jersey 2015

NEWARK, NJ – A Brooklyn man is headed to federal prison for his role in a brazen, multi-million dollar credit card and gift card fraud scheme that ripped off financial institutions to the tune of $2,041,977. James Olla, 29, was sentenced today to 33 months behind bars, a penalty handed down by U.S. District Judge John Michael Vazquez via videoconference.

Olla pleaded guilty to a superseding indictment charging him with conspiracy to sell, receive, or possess stolen goods. The scheme, which ran from January 2014 through June 2015, involved the procurement of stolen credit card information belonging to victims, including residents of New Jersey. It wasn’t about small purchases; this was a systematic operation designed to maximize profit from illegally obtained financial data.

According to court documents, Olla and his cohorts used the stolen credit card details to purchase gift cards from various retailers. These weren’t kept for personal use. The gift cards were then aggressively hawked on the streets of Brooklyn and other locations, often exchanged for large sums of cash. The operation was a well-oiled machine, turning stolen data into quick, dirty money.

The financial fallout was significant. While the total loss to financial institutions hit $2,041,977, Judge Vazquez also ordered Olla to pay restitution of $689,124. He’ll also be subject to three years of supervised release following his prison term, and must forfeit any property obtained through the illegal enterprise. The sentence sends a clear message: profiting from stolen identities isn’t a victimless crime.

The investigation was a collaborative effort spearheaded by the FBI, under Special Agent in Charge George M. Crouch Jr.; the U.S. Postal Inspection Service, led by Acting Inspector in Charge Rodney M. Hopkins; and the U.S. Secret Service, directed by Special Agent in Charge Mark McKevitt. The Secret Service’s involvement underscores the increasing link between traditional counterfeiting investigations and complex financial fraud schemes.

The prosecution was handled by Cybercrime Unit Chief David W. Feder and Assistant U.S. Attorney Joshua L. Haber of the U.S. Attorney’s Office Criminal Division in Newark. They successfully built a case demonstrating the scale of Olla’s involvement and securing a substantial prison sentence. This case serves as a reminder that federal agencies are actively pursuing and prosecuting those who exploit stolen financial information for personal gain, and that those caught will face serious consequences.”

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