How lenders stop identity theft
Saturday, October 4th, 2008How lenders stop identity theft
“Two men charged with identity theft
By: Record-Journal staff , 3:46 p.m.
10/03/2008
WALLINGFORD - Police have arrested two men for allegedly trying to buy a car with the stolen identity of an 87-year-old Meriden man.
Ronald Heath, 43, of 405 Kensington Ave. in Meriden, was arrested at his residence Monday. Michael Capasso, 21, of 3 Salem St. Northford, turned himself into Wallingford Police Thursday. Both men face charges of first degree identity theft and conspiracy to commit first degree identity theft.
According to police, Capasso, a salesman at Barberino Brothers Pontiac/Nissan in Wallingford, conspired with Heath to purchase a vehicle at the dealership using the name of an 87-year-old resident of a Meriden nursing home. Police did not identify the man, but said he is related to Heath.
Heath and Capasso allegedly submitted a credit application in the man’s name, which aroused the suspicion of an employee at a credit agency in Cheshire due to the applicant’s age, the fact that the address was listed as a nursing home and that there was no co-signer on it.
The employee notified Wallingford police, who investigated.”
(John Barksdale’s commentary. Ladies and gentlemen, this is how you stop identity theft! The lender must verify and validate the details in both fraudulent and honest credit applications. The elderly victim in the nursing home wasn’t using LifeLock, ID Patrol or any credit monitoring service. Consumers should not have to pay to monitor their credit; this should be done free of charge. If lenders and banks would do their jobs and scrutinize credit applications, or were held fully liable, identity theft fraud for financial gain would cease overnight. If a lender extends credit, services or merchandise to an identity thief, the lender has screwed up and the victim(s) should not be responsible for cleaning up the mess the lenders’ ineptitude created.)
“First degree identity theft is a class B felony and is punishable by between one and 20 years in prison and/or a fine of up to $15,000.
Both Heath and Capasso have been released on $50,000 bond and are scheduled to appear in Meriden Superior Court next Friday, police said.
Barberino Brothers Pontiac/Nissan had no comment Friday.”
