Jersey City Indian jewelry store owner Vinod Dadlani has been sentenced to 24-months in prison for credit card fraud by U.S. District Judge Anne E. Thompson.
Dadlani who pleaded guilty in June 2014, used his New Jersey jewelry store to further a massive credit card scheme involving several conspirators.
Dadlani was the 17th person to plead guilty to the fraud scheme.
The fraud scheme involving Dadlani and several others caused losses of over $200 million to businesses and financial institutions.
Court filings say 53-year-old Dadlani, a resident of Lyndhurst (NJ), owned and operated Nikitas Inc, d/b/a Tanishq Jewels (at 804 Newark Avenue in Jersey City) where he allowed co-conspirators to use fraud cards.
Dadlani split the proceeds of the phony transactions with conspirators.
In addition to the prison term, Judge Thompson sentenced Dadlani to two years of supervised release and ordered him to pay forfeiture of $411,000.