Home ยป Founder of the Infraud Organization Pleads Guilty to Running Scam

Founder of the Infraud Organization Pleads Guilty to Running Scam

Sergey Medvedev, a a leading player in online crime ring has agreed to the guilty plea in the US District Court of Nevada.
news - Founder of the Infraud Organization Pleads Guilty to Running Scam

Sergey Medvedev, a a leading player in online crime ring has agreed to the guilty plea in the US District Court of Nevada, the Department of Justice (DoJ) revealed.

The 33-year-old is considered a key figure of the Infraud Organization, an online crime ring engaging in financial fraud and identity theft. Launched in 2010, the Infraud Organization had grown to become one of the largest markets for stolen credit card information that directly stole $568 million from their victims, with the indirect losses amounting to more than $2.2 billion. 

The fraudsters indulged in the sale of over 4 million compromised card numbers from leading companies, including Visa, American Express, Mastercard, and Discover, “in addition to countless financial institutions located in the United States.” 

Medvedev was arrested by police in Bangkok, Thailand, in February 2018. 

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