Rowan Co. deputies charge five in financial fraud scheme

Hang Zheng, Steven Ye, Guoxiang Chen and Li Ying Dong.

Hang Zheng, Steven Ye, Guoxiang Chen and Li Ying Dong.

ROWAN COUNTY, N.C. – Rowan County deputies have arrested five people – including a 15-year-old boy – in connection to an apparent large scale financial fraud scheme.

Deputies said the suspects were stopped in a 2011 Acura SUV with a Texas registration Thursday in Rowan County.

Authorities said the driver gave deputies consent to search the vehicle after deputies found a credit card decoder and 17 forged credit cards.

Deputies said the scheme was to falsely encode information on credit cards using fraudulent bank account numbers, without authorization.

They would then allegedly falsely alter encoded information on cards by altering bank account information on magnetic strips, without authorization.

Hang Zheng, 28; Guoxiang Chen, 18; Steven Ye, 16; Li Ying Dong, 17; and the 15-year-old juvenile were arrested and charged with 17 counts of credit card forgery and one count of possessing a financial transaction card device.

Zheng was a Houston resident and Chinese national, while the other suspects were from New York, according to deputies.

The suspects allegedly claimed to be traveling from New York to Houston.

Deputies said the adult suspects were placed in the Rowan County Jail under $500,000 bonds and the juvenile was taken into custody by juvenile services and is being held in Alexander County.