Bernanke’s ID thief sentenced

November 13th, 2009 Keith Lubsen

According to the Associated Press, 52 year old Clyde Austin Gray Jr. was sentenced today to more than 11 years in prison and more that $1.4 million in restitution for being the ringleader of a nationwide identity theft ring.

Long arm of the Law - sentencing of Bernankes Identity Thief

The most highly publicized victim of Gray’s identity theft ring was Ann Bernanke, spouse of Ben Bernanke Federal Reserve Chairman.

Gray, according to the plea agreement, paid identity thieves to steal people’s personal identifying information along with bank account information. Gray then uses the stolen information to forge driver’s licenses and military ID cards.

The organizational structure of Gray’s identity theft ring is common. Small time identity thieves collect information and then sell it to another party who makes use of the data to defraud the identity theft victims.