Feds Bust $1.5 Million ATM Skimming Scheme

Federal officials Friday announced the arrest of Laurentiu Iulian Bulat, a Romanian citizen who allegedly installed card skimmers on more than 40 ATMs in the New York City metropolitan area.

Prosecutors have accused Bulat, who overstayed his U.S. visa, of participating in a fraud ring that netted at least $1.5 million via the card skimmers between May 2011 and January 5, 2012. Bulat alone was charged Thursday with conspiracy to commit bank fraud, as well as bank fraud. If convicted of both charges, he could serve up to 60 years in prison.

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