“Federal authorities last week announced a series of arrests and convictions in connection with a global identity-theft ring that stole millions of dollars by hijacking home-equity lines of credit issued to thousands of consumers. On Monday, state and federal law-enforcement officials arrested four men who were part of a group that allegedly combined high-tech equipment with old-fashioned con-artistry to drain home-equity lines. According to charging documents unsealed this week in New Jersey’s U.S. District Court, the men and four others arrested earlier this year tricked multiple banks and credit unions into wiring more than $2.5 million from home-equity lines to accounts controlled by members of a fraud ring in Canada, China, Japan, Vietnam and South Korea, among other countries.” [editor’s note: So lemme get this straight … Even folks who legitimately bought or maintained homes got scammed (under the radar, while the banking industry played roulette?) during this recent mortgage fiasco? Payback sure had BETTER be a bitch … on wheels! - SAT] (11/30/08)