Stamp Fraud Ring

Discussion in 'Stamp Chat' started by Gunny, Apr 17, 2015.

  1. Gunny

    Gunny Retired Jarhead Moderator

    James-2489 likes this.
  2. SATX Collector

    SATX Collector Remember the Alamo!

    "Buying stamps then reselling" but then they said something about blank checks... sounds like check kiting with fraud thrown in. Of course, if he bought the stamps from the Post Office, then it's Federal and they will have a party with him...
  3. Gunny

    Gunny Retired Jarhead Moderator

    It's a little confusing. Who would buy current stamps with a huge mark-up?
  4. Hochstrasse

    Hochstrasse Moderator Moderator

    It's likely the stamps bought with bad checks were posted online at a discount from face value. That is likely how they were caught. :)
  5. Gunny

    Gunny Retired Jarhead Moderator

    Now that makes much more sense. I was thinking that they were making fake older stamps and selling them as the real thing.
  6. James-2489

    James-2489 Well-Known Member

    Reading the article I think that they were committing a Cheque fraud (Rubber Cheque :jimlad:) in buying current stamps from the post office then selling them at a discount on the internet.
    Input zero, buy $1,000,000 sell - 10% = $900,000 profit.

    SATX Collector, Gunny and Hochstrasse like this.
  7. zararina

    zararina Simply Me! :D

    Real stamps but fake cheques. :p
  8. CalzoneManiac

    CalzoneManiac Member

    Hmmm...very strange indeed.
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