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A University of Miami college student faces multiple federal felonies for his part in a fraud scheme that resulted in at least $3.5 million in lost product and sales revenue to multiple retailers.
Matthew Frederic Bergwall, 21, of Coral Gables has been charged with hacking a multi-national shipping, receiving, and supply chain management company and orchestrating a nationwide scheme.
According to a recently unsealed indictment, Bergwall gained unauthorized access to compromised employee accounts of an unnamed national shipping, receiving, and supply chain management company.
Bergwall and his accomplices used the accounts to enter fraudulent tracking information for items transported by the company on behalf of retailers across the U.S.
This allowed his accomplices to get full refunds from the retailers while still having the items.
The group offered a service for sale marketed as "FTID" which caused nearly 10,000 fraudulent returns and resulted in at least $3.5 million in lost product and sales revenue to retailers.
During the fraud, Bergwall reportedly received a full refund for a $41,000 Rolex President Day-Date watch, a $600 TeamGee H2O Electric Skateboard, and other items while still having them in possession.
Bergwall is due in court Thursday in Miami and could face up to 45 years in prison.