Today's Business Headlines: 12/12/24
A high-tech toy company fell victim to an elaborate heist that took three truckloads of holiday merchandise worth more than $1 million — the latest example of a new type of scam that threatens to plague businesses nationwide, The Post has learned.— a toy projector that helps kids learn to draw and which retails for $108 — out of a warehouse in North Las Vegas to a Walmart distribution center in Atlanta.
“We can’t afford what’s happening,” Chen told The Post. “We are losing so much money in the middle of the holidays.” One of the legitimate trucking firms was Chicago-based Orest Express, whose co-owner Ihor Motkalyuk said US Logistics contacted him last month to confirm whether his company had completed a drop-off to a California warehouse — to which, it turns out, Flycatcher’s toys had been diverted by crooks.
So-called “strategic theft” — where legitimate businesses are tricked into helping steal freight — is exploding, up 1,445% this year from 2022 levels, according to CargoNet. The fraud now accounts for 33% of all cargo theft — up from between 5% to 10% before 2022, according to the theft prevention and recovery network.The epidemic is being fueled by organized crime groups across 20 countries, according to Scott Cornell, a crime and theft specialist at Travelers.
While driving he spoke multiple times with the fraudster, agreeing to an increased fee of $1,000 in exchange for dropping off the goods nearly 12 hours later than the agreed-upon time. But Siguenza was never paid for the Oct. 18 trip.
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