Third guilty plea reached in credit fraud ring

Federal prosecutors said a third person has pleaded guilty in what's been described as a large counterfeit credit card scheme.

Adekunle Kayode Ayeni pleaded guilty on Monday to one count of conspiracy to commit bank fraud.

Seven other people have been charged in connection with the scheme, which federal prosecutors say led to losses of more than $650,000.

According to court records, the group used counterfeit credit cards to steal hundreds of thousands of dollars from Virginia-based Capital One Bank.

Federal authorities said those involved bought stolen personal information from the Ukraine, then used it to get access to bank accounts and take out money from nearly 200 ATMs.