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The latest in an occasional
AppleInsider series, looking at the world of Apple-related crime.
Federal indictments for two men accused in SBA-loans-for-iPhones scam
Two Massachusetts men who were arrested in December for an alleged fraud scheme involving fraudulent SBA disaster loans being used to buy iPhones have now been indicted on federal charges.
According to the Department of Justice release, the two 24-year-old men were each indicted on one count of conspiracy to commit wire fraud, four counts of wire fraud and aiding and abetting, and one count of aggravated identity theft. The two are accused of stealing people's identities, opening fraudulent bank accounts, and using those accounts to "purchase large numbers of iPhones for resale."