PHOENIX — A man has been charged with allegedly defrauding various bike shops of over $27,000 in bicycles, according to court documents.
Phoenix police report that on August 19, Rickey Wayne Nelson was arrested in Buckeye after being accused of stealing high-end bicycles from various bike shops in Phoenix.
Nelson would allegedly purchase a bicycle using a credit card that would be declined. He would then provide a unique code that would cause the credit card machine to force the transaction through.
The bike shop would later get a notice from the credit card company saying the transaction was fraudulent.
Police say Nelson used this scheme five times to "purchase" bicycles worth over $27,000.
Court records show that one instance Nelson pawned a $3,700 bicycle for $1,200.
He has been charged with fraudulent schemes.