Two Bulgarians Nikolay Nikolov, and Yordan Kavaklov Indicted in ATM Skimming Operation
Mike Gallagher
Two Bulgarians have been indicted by a federal grand jury on multiple felony charges for conspiring to steal the bank card numbers and passwords of dozens of individuals through the use of a skimming device the defendants allegedly connected to ATM's in the metro Atlanta area, said federal authorities.
Nikolay Nikolov, 23, and Yordan Kavaklov, 29, are expected to make an initial appearance before a United States Magistrate Judge later this week.
United States Attorney David E. Nahmias said of the case, "these defendants allegedly stole the bank card numbers and passwords from dozens, if not hundreds, of unsuspecting individuals in the metro Atlanta area by recording their ATM transactions with an illegal skimming device. Such illegal intrusion into private financial transactions threatens the savings, credit, and peace of mind of its victims. Law enforcement agencies report that criminals are increasingly attempting to perpetuate ATM skimming fraud in the Atlanta area."
Authorities said on November 6, 2008, Cobb County police officers arrested the defendants at a Bank of America ATM on Windy Hill Road in Marietta after two citizens reported suspicious behavior, including that the defendants were using multiple cards to withdraw money from both the walk-up and drive-in ATMs.
At the time of their arrest, the defendants were allegedly in possession of 80 stolen gift cards with altered magnetic stripes and passwords written on the face of the cards. An initial search of the defendants, their car, and hotel room uncovered the cards and over $30,000 in cash, the vast majority in $20 bills. A later search uncovered another $27,000 in cash, all in $20 bills, located in a plastic bag stored inside the door panel of the defendants' Jaguar.
Cobb County law enforcement investigators also seized the skimming device, a magnetic stripe card reader/writer, computers, and other equipment used in the conspiracy following the defendants' arrest.
The United States Attorney's Office is in the process of notifying the individuals whose bank account information was found in the possession of NIKOLOV and KAVAKLOV at the time of their arrest. The investigation is ongoing.
The indictment charges 14 counts of conspiracy, access device fraud, and aggravated identity theft. The charges carry a maximum sentence of 60 years in prison, with a mandatory minimum sentence of 2 years for the aggravated identity theft counts, and a fine of up to $250,000 per count, said authorities.
The case is being investigated by Special Agents of the United States Secret Service, investigators of the Cobb County Sheriff's Office, and officers with the Cobb County Police Department.
