Wow! Major Coupon Fraud Ring Busted in Phoenix, Arizona!

Major Coupon Fraud Ring Busted in Phoenix, Arizona

Wow, yesterday in Phoenix, Arizona a Major Coupon Fraud Ring was busted. They had over 25 million in fraudulent coupons that they were selling.

This is from the article:

“The Coupon Information Corporation is calling this the largest counterfeit coupon case the industry has ever seen.

These investigators discovered most of the fake coupons were being used in Arizona. Investigators also found that the coupons were being sold through the website, Savvyshoppersite.com.

“They are variations, reproductions of what were at one point legitimate coupons,” said Bud Miller with the Coupon Information Corporation.

So the coupons often worked and as a result manufacturers lost millions.

Police say the scope of the investigation and the economic impact are massive with hundreds of millions of dollars in losses.

“We’re talking about anywhere from $400 to $600 million in loss,” said Holmes. “This is to American companies who produced American products and hire American citizens.”

Miller said consumers should never pay money for coupons.

“If you’re a consumer out there and you purchased coupons from this website you certainly should not use them. You are subject to arrest,” said Miller.”

Basically the lesson to be learned here is do not ever purchase coupons or inserts from anywhere other then the newspaper!
For more on the Major coupon fraud ring busted in Phoenix Arizona head over HERE!