565 arrested in global fraud schemes

Thursday, 25 May 2006, 12:35 AM EST

More than 2.8 million people in the U.S. paid to obtain credit cards, claim sweepstakes winnings and get in on lucrative investments that turned out to be too good to be true, officials said Tuesday as they announced hundreds of arrests in an international investigation.

Authorities in five countries have arrested 565 people in fraud schemes that netted more than US$1 billion. Many of those arrested are west Africans who were attempting variations of the notorious Nigerian Internet scam, the Justice Department said.

At TechNewsWorld.

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