In one of the largest U.S. coupon schemes ever, federal law enforcement officials last week arrested 16 people suspected of participating in a clip-out coupon fraud that generated more than $4 million.
The year-and-a-half long investigation involved 370 retailers in 15 states (although most of the coupons were clipped from newspapers in the New York area).
Officials said some of the money was siphoned to Jordan and Israel’s West Bank. The suspects posed as storeowners (and in some cases used real storeowners) to send the coupons to a clearinghouse for redemption.
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