Swindlers Sell Toner for 10 Times the Price

US federal agents and Huntington Beach police officers arrested 21 suspects for swindling over 50,000 people by selling toner for printers and photocopiers by as much as 10 times the regular retail price.

According to Tonernews, most of the victims are from small businesses and charities, and the scheme is up to $126 million.

The Huntington Beach Police Department started its widespread investigation back in 2012, and have arrested 23 with 21 being taken into custody.

A Huntington Beach police officer traced the address on an invoice for toner sent to one suspect who owned a storage facility in Arizona. Later, federal officials provided assistance to Huntington Beach investigators after they were aware of the depth of the fraud.

Gilbert “Gil” Michaels, a 73-year-old man who owned and operated IDC SERVCO in Los Angeles, has been named by federal authorities as the mastermind behind the alleged toner-selling scheme. He has also been charged with five counts of money laundering.

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