$2.1M fraud unravels: Trucking boss admits identity theft scheme
Hasan Korkmaz pleaded guilty to 18 counts after nearly 100 identities were stolen to fund a credit card bust-out scheme.
A California trucking company owner has pleaded guilty to orchestrating a $2.1 million fraud scheme that compromised the personal information of nearly 100 individuals. Hasan Korkmaz, 45, of Las Vegas, used stolen identities to open fraudulent credit card accounts, executing what prosecutors described as a ‘bust-out’ scam that left two banks with losses totalling $2,103,000.
in Santee, California, admitted to all 18 counts in an indictment that included bank fraud, money laundering, and aggravated identity theft. The scheme ran throughout 2022 and 2023, with some individual fraudulent charges reaching as high as $18,500. Prosecutors traced the proceeds to financial accounts Korkmaz controlled in Turkey, where he remained for approximately 18 months before returning to the United States and being arrested in June 2025.
The mechanics of the ‘bust-out’ scheme: Trucking
The fraud operation relied on a method known as a ‘bust-out’ scheme, where stolen identities are used to open credit card accounts that are then maxed out without any intention of repayment. Korkmaz obtained names, birth dates, Social Security numbers, and other identifying information to establish these accounts. Once the credit limits were exhausted, he submitted checks from non-existent or insufficiently funded accounts to temporarily restore the limits, allowing further fraudulent purchases.
was among the businesses that processed these fraudulent charges. The company reported three trucks and five commercial driver’s license (CDL) holders in its November 2023 MCS-150 filing with the Federal Motor Carrier Safety Administration (FMCSA). However, the reported mileage for 2022, 2,948,000 miles, equates to approximately 983,000 miles per truck, more than 12 times the industry average of 78,863 miles per truck in 2022, as reported by the American Transportation Research Institute.
its common carrier authority on December 6, 2021. As of now, both its common and broker authority remain inactive.
The discrepancy in the reported mileage figures has not been explained, though inaccuracies in filings or a larger fleet operating during 2022 could account for the anomaly.
The indictment against Korkmaz includes 18 counts involving bank fraud, two counts of money laundering under 18 U.S.C. Section 18 U.S.C. Section 1957, and four counts of aggravated identity theft. Each bank fraud count carries a maximum sentence of 30 years in prison, while the money laundering charges could result in up to 10 years each. Additionally, the aggravated identity theft offenses carry a mandatory consecutive two-year prison term, which must be served in addition to any other sentences imposed.
Sentencing for Korkmaz is scheduled for January 8, 2027, at 9 a.m. before U.S. U.S. District Judge in case number 25-cr-1405-JES. The case is being prosecuted by Assistant U.S. Attorney Kevin Mokhtari and Special Assistant U.S. Attorney Katherine Rookard.
Department of Justice recommends monitoring financial accounts regularly and reporting any suspicious activity to authorities immediately. Victims of identity theft can also file complaints with the Federal Trade Commission (FTC) and place fraud alerts on their credit reports to prevent further misuse of their information.
The broader trucking industry may also face increased scrutiny in the wake of this case. Regulatory bodies like the FMCSA could implement stricter oversight measures to prevent similar fraudulent activities, particularly those involving the misuse of commercial carrier authority. Companies operating in the sector should ensure compliance with all reporting requirements and maintain transparent operational records to avoid regulatory action.
As the case moves toward sentencing, it underscores the far-reaching consequences of financial fraud and the importance of robust regulatory frameworks to protect both businesses and individuals from such schemes. The trucking industry, in particular, must remain vigilant to safeguard against the exploitation of its operational and financial systems.
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