In 2021, The Federal Trade Commission received reports totaling $5.8 million in losses from fraud and online scams. More than 2.8 million consumers reported being victims of fraud, with most consumers reporting imposter scams followed by online shopping scams.
According to court documents, customers sometimes received “cheap crystal ornaments” instead of the product they purchased to generate a tracking number.
Yeung then requested refunds for the products and often returned a less expensive item than what he ordered, allowing him to receive both the refund and proceeds from the sale to his customer.
He currently faces a statutory maximum penalty of 20 years in federal prison for wire fraud.
During a search of his residence last month, investigators seized gold and silver bars which would help go toward the restitution he agreed to pay, according to a news release. Yeung is next due in United States District Court on April 12.
To avoid a scam, experts recommend being wary about deals that feel “too good to be true” such as a low price.
People are also advised to use a credit card rather than a debit card when online shopping. This is because a credit card is not directly tied to a bank account which makes it more difficult to steal information.
