April 13, 2007

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  NEWS: Father/Son Team Nabbed in Scheme

  A father and son duo out of Newark, New Jersey were arrested this week on identity theft charges. Alexis Ampudia Sr., 44, and Alexis Ampudia Jr., 22, were nabbed by Port Authority police as they deplaned at Newark Airport from a flight from Panama, where investigators believe that they deposited some of their ill-gotten gains. The New York Post reported that the younger Ampudia, a recent college graduate, bragged on the popular Internet site MySpace about his wealth and impressive knowledge of business.
  
  The son accessed the online investment accounts of ay least nine wealthy New York citizens through different banks, said the Post article, and wired funds to open trading accounts in the names of the victims, before purchasing penny stocks in companies in which he already owned stock, therefore increasing the value of his own stock portfolio by quite a good deal. Ampudia Sr. was implicit in the scam, according to the article.
  
  The paper reported that Ampudia Jr.'s MySpace page featured him boasting expansively of his stock knowledge, claiming that he was using the site to "expand [his] trading influence" and to create his first IPO by year's end.
  
   
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