Thieves find a home on eBay

Thursday, 6 January 2005, 10:24 AM EST

The shoplifters discovered some stores would allow them to return the goods without receipts for store credit or gift cards. They then sold those vouchers on the giant online marketplace. It was easy, instant and anonymous. The money flowed in -- they got 76 cents per dollar of stolen merchandise, a huge takeaway considering that shoplifters traditionally net 10 percent or less of the retail value of the items. The group made more than $200,000 in 10 months.

By Ariana Eunjung Cha at MSNBC.

[ Read more ]




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