Businesses Depositing "Certified Checks" Get Burned

Canadian businesses suffered theft of more than $700,000 in electronic equipment, extensive credit card fraud, stolen vehicles and as much as $10 million in overall losses as a result of the work of one check fraud ring here, police said. Cops first became aware of the scheme last December, and they say the suspects set up a number of phony companies which appeared to be the real thing, and after gaining the trust of their "clients", would order large amounts of electronic merchandise. The purchases were paid for using certified checks which were later found to be counterfeit. But by then, the material had been delivered and the crooks who took it were long gone. As if that wasn't enough, cops say the men also rented a large number of expensive cars using the same M.O. Many were driven from the lot straight to a container, where they -- and the ill-gotten electronics -- were shipped overseas and resold.