Bernanke Victimized By Identity-Fraud Ring: Report

Federal Reserve Chairman Ben Bernanke is one of hundreds of victims of an identity-fraud ring, according to Newsweek magazine.

Ben Bernanke
Ben Bernanke

The ring is run by a scam artist known as "Big Head," the magazine said on its website. The ring has been known for stealing more than $2.1 million from consumers and at least 10 financial companies around the U.S.

According to court documents, a thief snatched the purse of Bernanke's wife, Anna, off the back of a chair at Starbucks near their home in Washington D.C in August 2008.

The purse contained her driver's license, Social Security card, four credit cards and a book of Wachovia bank checks from the couple's joint checking account. Bernankes' bank-account number, home address and telephone number were printed on each check.

Anna Bernanke reported the missing purse on the same day to the police.

"Big Head," Clyde Austin Gray Jr., pleaded guilty in federal court last month to conspiracy to commit bank fraud. He had employed pickpockets, mail thieves, and office workers to swipe checks, credit cards, military IDs, and other personal records, according to his plea agreement and other court records filed in his case.

On Tuesday, Bernanke was reappointed as chairman of the Fed for a second term by President Obama.