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Houston, Texas Credit Card Fraud

LEAGUE CITY MAN PLEADS GUILTY TO CREDIT CARD FRAUD

(HOUSTON, Texas) - Sharif J. Reid, 33, has pleaded guilty to one count of conspiracy to commit credit card fraud and one count of credit card fraud, United States Attorney Don DeGabrielle announced today.

At a hearing held this morning before U.S. District Judge Nancy Atlas, Reid admitted he participated in a 17-month conspiracy with several other individuals, including Nandasharie Shivmangal, 31, to commit credit card fraud through the use of counterfeit credit cards in names other than his or Shivmangal’s. The FBI and League City Police Department conducted a search of Reid’s residence, Sept. 7, 2007, resulting in the seizure of approximately 100 counterfeit cards, two cash register rolls with approximately 1800 additional credit card numbers, counterfeit drivers licenses, a document shredder, a bag of shredded credit cards and approximately $300,000 in electronic equipment, gold and diamond jewelry, designer clothing and shoes. Reid further admitted he and Shivmangal deposited more than $505,000 in cash from April 2006 through September 2007 into bank accounts under their control.

As part of his plea agreement, Reid agreed to forfeiture of $700,000 related to the credit card fraud. He is schedule for sentencing May 15, 2008. The conspiracy count carries a penalty of five years imprisonment and a $250,000 fine and the credit card fraud count carries a penalty of 10 years imprisonment and a $250,000 fine.

Reid and Shivmangal are charged in a six-count indictment with conspiracy, one count of possession of 15 or more stolen or counterfeit credit cards and two counts each of credit card fraud. The indictment alleges Reid and Shivmangal, who are husband and wife, possessed in excess of 100 counterfeit credit cards, 2000 stolen credit card numbers and alleges they used fictitious drivers licenses with names matching those on the counterfeit credit cards to purchase approximately $1 million in merchandise. Finally, the indictment gives notice of the government's intention to forfeit the $1 million of fraudulent proceeds obtained by Reid and Shivmangal.

Shivmangal is scheduled for trial beginning March 31, 2008. The public is reminded that an indictment is a formal accusation of criminal conduct, not evidence. The defendant is presumed innocent unless convicted through due process of law.

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