CALIFORNIA – The U.S. Department of Justice announced that Hasan Korkmaz, owner of San Diego Logistics Group Inc. based in Santee, was arraigned on June 4 following a federal indictment charging him with multiple financial crimes, including bank fraud, money laundering, and identity theft.
According to the 18-count indictment, Korkmaz is accused of orchestrating an elaborate credit card fraud scheme between 2022 and 2023. Prosecutors say he carried out what’s known as a “bust-out” operation—maximizing credit card limits with no intention of repaying the debts.
Fraudulent Credit Applications
Authorities allege that Korkmaz acquired the personal information of real individuals—including names, birth dates, and Social Security numbers—and used this data to open multiple credit card accounts under false pretenses. Once the accounts were approved, Korkmaz allegedly made substantial charges at several businesses, including his own trucking firm.
Some of the transactions reportedly reached up to $18,500 in a single charge.
Deceptive Payments and International Transfers
To manipulate the credit limits, Korkmaz allegedly issued fake payments using checks from bank accounts that were either overdrawn or completely fictitious. These temporary payments would restore available credit, which he would then immediately use again.
Federal prosecutors say the proceeds from the fraudulent activity were ultimately funneled into a bank account in Turkey under Korkmaz’s control. In total, the scheme caused financial institutions to lose more than $2.1 million.
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Charges and Penalties
Korkmaz faces the following charges:
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12 counts of bank fraud – Each count carries a potential sentence of up to 30 years in prison and fines of up to $1 million.
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2 counts of money laundering – These carry maximum penalties of 20 years in prison per count and fines of either $500,000 or double the laundered amount.
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4 counts of aggravated identity theft – Each count includes a mandatory two-year prison sentence, served consecutively to any other sentence.
Korkmaz has entered the judicial process, and the case is ongoing. As with all criminal cases, he is presumed innocent unless proven guilty in a court of law.