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The Gazette
Bilked Americans of $45 million - cont'd
New York banker
at centre of probe.
The telemarketing
ring that is believed to have collected more than $45 million
by selling fees for nonexistent credit cards is alleged to
have had support from a U.S. banker.
According to U.S. court
documents, Raymond Payne, a vice-president of the HSBC bank
out of a Manhattan office, was arrested Jan. 26.
Payne worked out of
HSBC's corporate offices and acted as a relationship manager
for companies set up for the telemarketing ring. But he is
also alleged to have owned two businesses that he set up in
2002 and used to sell credit manuals and CD-ROMs to telemarketers
here.
Court documents say
HSBC officials turned over several of Payne's e-mails as well
as recordings of his phone calls.
The alleged leaders
of the telemarketing ring set up an account with HSBC in 2001
and were the only signatories on the account until it closed
in 2003, when they apparently became concerned they were under
investigation.
Investigators contend
Payne received 12 payments from the telemarketers that ranged
between $5,000 and $15,000.
Payne faces charges
of conspiracy and fraud in Manhattan.
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