Woman admits fleecing shopping network of more than $412,000

[SUBMAN1]

Woman admits fleecing shopping network of more than $412,000

Website glitch allowed her to receive items gratis

By Dan Goodin → More by this author
Published Tuesday 30th October 2007 21:49 GMT

A woman has pleaded guilty to fleecing the QVC home-shopping networking of more than $412,000 by exploiting a gaping hole in its website that allowed her to receive merchandise without paying for them.


Quantina Moore-Perry ordered handbags, jewelry and electronics and then immediately canceled the transactions. The flaw allowed the North Carolina woman to take delivery of more than 1,800 items without being billed. Moore-Perry would then sell the booty on eBay, according to the Associated Press, which cited authorities.


Moore-Perry pleaded guilty to wire fraud and was released pending sentencing. She has forfeited the $412,000 proceeds from the scam.


Pennsylvania-based QVC learned of the scam after being contacted by two individuals who bought items from Moore-Perry. Apparently, the defendant couldn't be bothered to remove the QVC packaging, arousing the tipsters' suspicion.

http://www.theregister.co.uk/2007/10...d_guilty_plea/

[Jimbuna]

I wish my credit card company was so understanding. :p

[SUBMAN1]

Originally Posted by jimbuna

I wish my credit card company was so understanding. :p

Lock that thing in a safe already and don't use it ever!!! Or better yet - cut it up!

-S

[Jimbuna]

Originally Posted by SUBMAN1

Lock that thing in a safe already and don't use it ever!!! Or better yet - cut it up!

-S

Bad/negative personal experience ? :hmm:

[Sailor Steve]

Originally Posted by SUBMAN1

Apparently, the defendant couldn't be bothered to remove the QVC packaging, arousing the tipsters' suspicion.

What is it about the criminal mind that makes get caught just because they're so STUPID?

[SUBMAN1]

Originally Posted by jimbuna

Bad/negative personal experience ? :hmm:

I'm just anti credit is all. You have a choice - be free and wealthy or be a slave to the lender. The choice is yours. I never use credit anymore (accept to purchase online, but I don't keep a balance), which gives me the most powerful wealth building tool I have - my income!

Credit is the mantra of the middle class. No other way to describe it. Credit is bad. If you like being middle class however, keep the credit.

An example of just how bad credit is, simply take a car payment. The average US car payment is $400 a month. Do you know that if you paid yourself $400 a month for 40 years straight into a decent mutual fund that this would add up to $4.5 Million dollars at a normal return on investment of 12%? That car you have there must be a pretty nice car for $4.5 million! The car companies know this, but would rather not tell you because they want that 4.5 million in their pocket, not yours! Hope you like the car!

I guess the point I am getting across is that credit will keep you down. Even someone with minimal income can walk away at the end of their life more wealthy than anyone else if they are only slightly smart with their money.

I'm debt free at this point. I don't owe a penny to anyone and I plan to keep it that way.

-S

[Jimbuna]

Originally Posted by SUBMAN1

I'm just anti credit is all. You have a choice - be free and wealthy or be a slave to the lender. The choice is yours. I never use credit anymore (accept to purchase online, but I don't keep a balance), which gives me the most powerful wealth building tool I have - my income!

Credit is the mantra of the middle class. No other way to describe it. Credit is bad. If you like being middle class however, keep the credit.

An example of just how bad credit is, simply take a car payment. The average US car payment is $400 a month. Do you know that if you paid yourself $400 a month for 40 years straight into a decent mutual fund that this would add up to $4.5 Million dollars at a normal return on investment of 12%? That car you have there must be a pretty nice car for $4.5 million! The car companies know this, but would rather not tell you because they want that 4.5 million in their pocket, not yours! Hope you like the car!

I guess the point I am getting across is that credit will keep you down. Even someone with minimal income can walk away at the end of their life more wealthy than anyone else if they are only slightly smart with their money.

I'm debt free at this point. I don't owe a penny to anyone and I plan to keep it that way.

-S

I currently enjoy the same status you describe in your last sentence, but it is a never ending struggle to maintain that position with a wife and two kids in tow

[SUBMAN1]

Originally Posted by jimbuna

I currently enjoy the same status you describe in your last sentence, but it is a never ending struggle to maintain that position with a wife and two kids in tow

Time to lay down the law! No excuse for living beyond your means.

-S

[Jimbuna]

Originally Posted by SUBMAN1

Time to lay down the law! No excuse for living beyond your means.

-S

The wife said She'll be on the next flight over with the youngest (daughter) who will be suitably equipped with her hockey stick :p

[DeepIron]

I'm debt free at this point. I don't owe a penny to anyone and I plan to keep it that way.

Amen. Just a house and a car payment... Soon, just a house...

[SUBMAN1]

Originally Posted by DeepIron

Amen. Just a house and a car payment... Soon, just a house...

House I can understand, but a car payment, I can't. Wipe it out already.

-S

[August]

Who owns a car for 40 years?

[Jimbuna]

These did....and they were American Multi-Millionaires

[SUBMAN1]

Originally Posted by August

Who owns a car for 40 years?

No one does. I did not say not to buy a car, but to buy one you can pay cash for. And on top of that, I do not advocate buying brand new, though I have been guilty of that in my past myself, I doubt I will ever do it going forward.

The point is, pay yourself the $400 into an investment at a 12% return, and then pay cash. To go get a loan for it, you are simply making someone else rich to drive something that impresses people you do not know and really don't give a crap about. It is that simple.

Seems you guys need some math. Lets even use a used $20K car. If you want to do the math on a 5 year, $20,000 car loan, if you simply wait and pay cash for it, investing $400 monthy instead of taking the loan, you can buy your brand new car outright for $20K in 3.25 years. Not bad, no? Factor in that this out of pocket cost of your contributing $400 is only costing you $15,600.

Now lets calculate the 5 year loan on your fairly nice $20K used car. You would pay $444.89 for 60 months - much much longer than paying cash for it, for a total out of pocket of $26,693.40. So not only are you paying $11,093.40 extra for the exact same car, but it is taking you 1.75 years LONGER to even own the damn thing!

You guys do the math. This is not rocket science. The point being, you don't want to finance someone elses Ferrari - you want to buy your own! Cash!

-S

[DeepIron]

You guys do the math. This is not rocket science.

Great points! Unfortunately, in my particular case, I have to factor in the MIL (Mother-In-Law) constant. She lives with us and is the primary reason we bought the van in the first place...

The upside is now that we are her primary caregivers, I get the $$$ back in tax deductions...