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**udit** · 05-16-2007

Police in South Salt Lake, Utah, are working with eBay to determine just how many people were victimized by what authorities say was one of the biggest frauds in the auction site’s history. Police arrested 31-year-old Russell Dana Smith last weekend after hundreds of auction winners complained that they sent $1,000 or more to a company named Liquidation Universe for laptop computers they never received. Police say the firm appears to have raked in $1 million from about 1,000 victims in just a few weeks.Meanwhile, would-be buyers are also pointing the finger at SquareTrade, an eBay seller verification service, which had vouched for Liquidation Universe’s legitimacy — and, the buyers thought, offered a fraud guarantee.

05-16-2007	#1 (permalink)
udit Banned Join Date: May 2007 Posts: 41 Rep Power: 0	Man arrested in huge eBay fraud Police in South Salt Lake, Utah, are working with eBay to determine just how many people were victimized by what authorities say was one of the biggest frauds in the auction site’s history. Police arrested 31-year-old Russell Dana Smith last weekend after hundreds of auction winners complained that they sent $1,000 or more to a company named Liquidation Universe for laptop computers they never received. Police say the firm appears to have raked in $1 million from about 1,000 victims in just a few weeks.Meanwhile, would-be buyers are also pointing the finger at SquareTrade, an eBay seller verification service, which had vouched for Liquidation Universe’s legitimacy — and, the buyers thought, offered a fraud guarantee.