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Albert Gonzalez faced the music in a U.S. District Court in Boston on Friday, pleading guilty to masterminding one of the biggest cases of identity theft in history. The deal he struck with prosecutors could have him turning big rocks into little ones for up to a quarter of a century.
The Miami resident compromised the computer systems of large, high-profile retailers, including TJX (NYSE: TJX), BJ's Wholesale Club (NYSE: BJ), OfficeMax (NYSE: OMX), Barnes & Noble (NYSE: BKS) and Sports Authority. Tens of millions of credit card numbers were swiped in this scheme, leading to 19 counts of conspiracy, computer fraud, wire fraud, access device fraud and aggravated identity theft -- if there are other charges ... well, you get the point.
In Massachusetts, Gonzalez faces a sentence of between 15 and 25 years. Also, he's staring down 20 years in New York, where he's also pleaded guilty. The sentences would run concurrently, and the hearing to make the final decision is scheduled for December 8, 2009.
Gonzalez used the cash he stole to enjoy the good life. The $2.8 million he pulled in went to a Miami condo and a BMW. Some of it probably paid for his stay at the upscale National Hotel on Miami Beach, where Gonzalez was arrested.
But, according to his attorney, Rene Palomino, Jr., Gonzalez "just feels really bad, mainly because of the damage he's caused, but also because of what his family has had to endure." Yeah, I'm willing to bet 25 years in jail is contributing a bit to the feeling, too.
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