The co-conspirators purchased over 38,000 stolen PayPal account login credentials. Marketplace A functioned as an illegal market for stolen payment account credentials and associated personally identifying information (PII). According to court documents, from at least as early as November 2015 and continuing through in or about November 2018, Ponce and his co-conspirators worked together to establish buyer accounts on a particular illegal online marketplace (Marketplace A). Marcos Ponce, 37, of Austin, pleaded guilty to conspiracy to commit wire fraud in October 2021. In addition to the term of imprisonment, the defendant was ordered to pay $1.4 million in restitution. A Texas man was sentenced today to five years in prison followed by three years of supervised release for his conduct in connection with a scheme to buy 38,000 compromised PayPal account credentials from an illegal online marketplace, and then use those credentials to steal money from the rightful PayPal account owners.
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