Police: Men targeted Target for credit card fraud operation - New York News | NYC Breaking News

Police found $10,000 in cash, 85 iPads valued at more than $50,000, a large number of credit cards and gift cards, and other fraudulently purchased items while executing search warrants targeting two men charged with running a gift/credit card fraud ring.

The Chicago Police Intelligence Section was investigating credit card fraud at Target stores across the city in which the suspects re-coded gift cards using stolen credit card information, and then made large purchases of high-end items, police said. They would then sell the fraudulently purchased items.

On Tuesday, investigators at a Target store in the 8600 block of South Cottage Grove caught two suspects engaging in a fraudulent transaction and notified, who were conducting surveillance. Police arrested the men -- Jerome Taylor, 41, and Michael Nixon, 40 -- and confiscated the items they'd purchased, a release from police said.

Following the arrests, police executed search warrants and discovered a credit card manufacturing operation; a large quantity of re-coded credit cards, prepaid cards and gift cards; a handgun, about $10,000 in cash and numerous purchased items, including the iPads, the release said.

Taylor, of the 10000 block of South Eggleston, was charged with one count of organizing a financial crime enterprise, a Class X felony; and Nixon, of the 9300 block of South Eggleston, was charged with one count of continuing a financial crime enterprise, a Class 1 felony, the release said.

They are scheduled to appear in bond court on Friday.