NEW YORK (1010 WINS) — Two men were indicted for operating a multi-state credit card fraud ring, which stole over $1.9 million from a corporate American Express account in 2023, Manhattan District Attorney Alvin Bragg Jr. announced Thursday.
Guy Bondobari, 56, and Marcel Toula, 58, both of Atlanta, Georgia, are each charged with one count of grand larceny.
According to court documents, made on the record in court, between July 15, 2023, and Aug. 14, 2023, Bondobari and Toula operated a multi-state credit card fraud ring, which stole more than $1.9 million from a corporate American Express account.
On July 15, 2023, Bondobari and Toula allegedly added themselves as sub-account card holders on an American Express corporate credit card account. Once they had access to the account, they obtained multiple American Express Business Platinum credit cards in their own names, according to the indictment.
Bondobari and Toula used the fraudulently obtained cards to purchase over $1.8 million worth of luxury watches in a single month, as well as travel throughout the United States, purchasing business class plane tickets, luxury hotel accommodations, and Mercedes and Lexus rental cars, officials said.
In a single weekend, Bondobari and Toula purchased six watches from Manhattan retailers including a Platinum Rolex Daytona for $158,522, a rose gold Patek Philippe Nautilus Travel Time Chronograph for $299,406, a Platinum Rolex Daytona for $272,187, a rose gold Patek Philippe Nautilus Moon Phase for $242,508, a custom Richard Mille for $75,000, and an 18-karat rose gold Patek Philippe Nautilus for $208,508, authorities said.
Additionally, Bondobari and Toula used those credit cards to purchase a watch in Atlanta for $58,806, two watches in Miami, Florida for $164,780, $30,000 worth of merchandise from a watch retailer in Beverly Hills, California, and four additional watches in Manhattan for $333,590.
"As alleged, Guy Bondobari and Marcel Toula operated a multi-state credit card fraud ring to steal over $1.9 million dollars from American Express and purchase lavish items, including thirteen luxury watches," said District Attorney Bragg. "This investigation remains ongoing. If you are a victim of financial crime, or know about a financial crime that requires investigation, please call our Financial Frauds Bureau at 212-335-8900."