Hacker Steals $50,000 From Web Companies

If you’ve ever signed up for a bank account or Paypal account online, you’ve probably noticed how they deposit a small amount of change into your checking account for verification purposes. It’s usually under 50 cents and doesn’t amount to much. But what if someone programmed a way to automate the enrollment process with these sites and used false names to generate multiple accounts

That is exactly what one Michael Largent from California did. Largent set out to scam Google, E-Trade, Paypal and a slew of other companies for their cash. In the end, he ended up netting over $50,000 from verification deposits. If he hadn’t used false information, Michael wouldn’t be facing wire fraud charges. Currently, he’s free on bail and there’s no word if he has been ordered to pay the money back.

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