City Of London police have arrested nine suspected members of a crime conspiracy ring involving thousands of stolen iPhones and millions of pounds worth of fraudulent phone charges.
Police performed a series of raids on Wednesday and seized many phones, fake passports, SIM cards and noted a sophisicated network of criminal activity. The Telegraph has reported that 9 people aged between 28 and 42 were arrested in the operation.
The investigation took over a month after £1.2 million was stolen from mobile telecom operator 02 in July. The fraudsters used SIM cards and automated dialers to call premium rate phone lines which can charge up to £10 per minute.
By using these stolen credit cards and identities the gang proceeded to purchase thousands of iPhones and contract plans. A middleman would then sell the SIM cards to phone scammers and ship the handsets overseas for resale. UK phones are heavily subsidised and they fetch up to £450 abroad.
KitGuru says: According to reports one house contained over £15,000 worth of iPhones, still in their boxes.