Sacto 9-1-1
August 23, 2013
Sacramento man pleads guilty to fraud schemes

A 34-year-old Sacramento man pleaded guilty today in a federal case involving debit card and student loan fraud.

Mordechay Altit -- also known as Michael Altit, Anthony Altit and Tony Altit -- pleaded guilty to two counts of mail fraud and one count of money laundering in connection with fraudulent use of debit cards and student loan fraud, according to a federal Department of Justice news release.

According to court documents, Altit applied for debit cards issued by banks or other debit card providers in his own name, or using names and Social Security numbers of other people. He then used merchant and terminal identification numbers issued to merchants and businesses nationwide to cause fraudulent refunds and credits to be placed on the debit cards he controlled.

Before the businesses could rescind the transactions, Altit used the cards to spend and transfer money. Authorities said he attempted to have at least $450,000 in fraudulent merchant returns credited to his debit cards.

Altit also obtained more than $200,000 in student loans and attempted to receive an additional $250,000 in student loans from banks through fraudulent representations, according to court documents.

On applications that he submitted, Altit fraudulently represented the names of the students applying for the loans, their Social Security numbers, their incomes, and that they were attending or planned to attend schools such as Southern California University of Health Sciences, Harvard Law School, Yale School of Medicine and California State University, Sacramento.

After receiving some of the proceeds from two of the student loans, Altit wrote checks for more than $19,000 each to his brother Shay Din Altit, authorities said. Shay Din Altit pleaded guilty in April to conspiracy to commit money laundering and is to be sentenced Sept. 13.

Mordechay Altit is to be sentenced Nov. 8 by U.S. District Judge Garland E. Burrell Jr.

The cases resulted from investigations by the Federal Bureau of Investigation, the Internal Revenue Service-Criminal Division, and the U.S. Secret Service.

On October 14, The Sacramento Bee will temporarily remove commenting from sacbee.com. While we design the upgrade, we encourage you to tell us what you like and don't like about commenting on sacbee.com and other websites. We've heard from hundreds of you already and we're listening. Please continue to add your thoughts and questions here. We also encourage you to write Letters to the Editor on this and other topics.



About Sacto 9-1-1

Sacto 9-1-1 is a blog on crime and emergency services news in the Sacramento region.

Send feedback on Sacto 9-1-1 to Assistant Metro Editor Anthony Sorci at asorci@sacbee.com

Subscribe to Breaking News Alerts

FOLLOW US | Get more from sacbee.com | Follow us on Twitter | Become a fan on Facebook | Watch Bee news, lifestyle videos | View our mobile versions | e-edition: Print edition online | What our bloggers are saying

Sacto 9-1-1 Q&A

Bee reporters answer questions about area crime news, trends and other issues. QUESTION: A couple of years ago, a Sacramento tax attorney named Roni Deutch was the target of an investigation by the California Department of Justice. She was accused of bilking clients out of millions and defying a court (Read More)

More Questions and Answers
See all the crime Q&As
Submit your question

April 2014

Sun Mon Tue Wed Thu Fri Sat
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30      

Monthly Archives


Kim Minugh on Twitter

Follow "Kim_Minugh" on Twitter

Local Agencies on Twitter

Categories