This has nothing to do with merchant underwriting. However, it reminded me of my minor role in something from the 1980 s called ABSCAM. You can look it up.
The current story is similar:
“As the buses pulled up to our Newark office yesterday morning carrying 44 prominent political and religious leaders—including mayors, assemblymen, and rabbis—it would have been easy to mistake them as a group of visiting VIPs.
Instead, they were the defendants in a two-track criminal investigation, arrested by our agents during an early morning sweep and charged with political corruption and high-volume international money laundering.”
People don’t change.