Bernanke Fell Prey to ID Theft Ring

Wife's purse snatched, and checkbook used in wide ranging scam

Fed Chairman Ben Bernanke was ripped off by a sophisticated identity theft ring.

The man most responsible for the nation's fiscal policy was one of hundreds of victims of an elaborate, $2.1 million scam headed by a convicted con man known as "Big Head," according to NEWSWEEK. The crime came just as Big Ben was dealing with the first rumblings of the financial crisis on Wall Street, after Bernanke learned that a thief had swiped his wife's purse at a Washington Starbucks.

The Bernankes had been victims of a versatile ring that combined high tech swindling with old-fashioned thievery. Days later, someone started cashing checks on the Bernankes' account, the documents show. One creep even opened up a bogus bank account and wrote himself checks from the Bernankes, which he then cashed, say the feds.

"Identity theft is a serious crime that affects millions of Americans each year," Bernanke told NEWSWEEK. "Our family was but one of 500 separate instances traced to one crime ring. I am grateful for the law enforcement officers who patiently and diligently work to solve and prevent these financial crimes."

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