October 21, 2013
Louisville police arrest another person in a massive gift card scam.
In all, 70 people have now been charged in connection to a scheme that rips off retailers.
Police said 41-year-old Robert Bancroft worked with his young adult son, daughter and three others to steal more than $12,000 and 90 gift cards.
His children and their friends are still at large, but Bancroft now faces multiple charges, police said.
Police reports said Bancroft would enter the Home Depot, steal merchandise and then return it.
Since he didn't have receipts, investigators said employees gave him gift cards.
Those gift cards were then taken to local pawn shops in exchange for cash.
Reports stated Bancroft, his son, daughter and their friends have admitted to their role in the scam in recorded statements on two different occasions.
Police said Bancroft continued to commit fraud, selling stolen Xbox games with his son at a Book & Music Exchange on Saturday.
Book & Music Exchange management declined to comment on camera but said they run everything they buy through an online database to see if it's stolen.
They said they've already taken those video games off their shelves.
Police arrested Bancroft at his home in the Okolona area later that Saturday.
Bancroft joined a long list of people accused in this scheme.
Just last month, a grand jury indicted 70 people for the same crimes.
Investigators said like Bancroft, many of the suspects committed fraud to support heroin addictions.
Officer Jonah Kiper has been working the case for nearly a year.
"The investigation is ongoing, but it's dozens and dozens of people," Kiper said.
Police said they expect to make even more arrests in the gift card scam.
Bancroft pleaded not guilty during his arraignment Monday morning.
He is being held on $5,000 bond.