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Banks lose $860,000 as credit card scammer takes plea

A credit card scam that cost several major banks more than $860,000 is sending a Buffalo man to prison.

Ricky Butler, as part of a plea agreement Wednesday, admitted using fraudulently obtained credit cards to buy store gift cards at Walmart and other retailers across Western New York and then reselling them at a discount.

Butler also admitted working with others to obtain dozens of fraudulent credit cards and taking part in more than 1,100 fraudulent transactions involving Citibank, JP Morgan Chase, Bank of America and others.

Butler was prosecuted by and pleaded guilty to conspiracy to commit bank fraud and aggravated identity theft.

He faces a recommended sentence of up to 19 years in prison.

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