Four Apple employees, along with a dental office receptionist, have been indicted in New York for running an identity theft ring that defrauded Barclays Bank of $700,000 using fraudulently obtained Apple gift cards.



The allegation is that the former employees stole personal information of hundreds of victims which then was used to apply for "instant credit" at Apple, which can be used to immediately buy items. Once the application was approved, they used Apple credit to purchase gift cards and bought Apple merchandise such as laptop computers.

The ring is charged with purchasing approximately $700,000 worth of gift cards at Apple stores using ill-gotten Barclaycard instant credit.

Following a two-and-a-half year-long investigation, the defendants were charged in a 394-count indictment in New York State Supreme Court. District Attorney Cyrus Vance, Jr. announced this week that the defendents are charged with larceny, identity theft, fraud, and unlawful possession of personal identifying information.

"Using stolen information to purchase Apple products is one of the most common schemes employed by cybercrime and identity theft rings today," Vance said in a statement. "We see in case after case how all it takes is single insider at a company — in this instance, allegedly, a receptionist in a dentists' office – to set an identity theft ring in motion, which then tries to monetize the stolen information by purchasing Apple goods for resale or personal use."