A classmate of mine (whom we'll call CA for reasons I won't explain) was arrested for making a fraudulent purchase with a stolen credit card. Here's what happened:
Following a spat with his Mom that ended with her taking away his Nintendo64, CA told me in class that he'd recently stolen a credit card out of a random mailbox. He told me of his plans to use the card to buy himself another N64. So, to quote my repetition of his story out loud, for my sake, his sake, and the entertainment of everyone around us, "So, you stole a credit card out of someone's mailbox, and you're going to use that person's credit card--without their prior knowledge or consent--to buy yourself a Nintendo 64... on someone else's dime."
CA then proceeded to deny the 'dishonest' and 'immoral' aspect of his deed with a train-wreck of logic that went something like this: The card was being delivered to someone who may or may not have actually been expecting their card to arrive. CA would use the card to buy the N64, walk casually out of the store, and reap the benefits of his deed while the would-be recipient of the card would receive a bill in the mail he would neither recognize nor agree to. He would then take up this matter with the credit card company, whose investigation would more than likely show that indeed the would-be cardholder had not actually made the purchase in question and therefore would not be penalized or made responsible for the charge. The debt would be forgiven, CA would get his N64, and the only people really hurt by the transaction would be the retailer and, by extension, Nintendo. Essentially, it was the Napster argument (record labels make lots of money, therefore wouldn't mind some of it going missing).
To put this in perspective, this happened circa 1996: Identity Theft as a term hadn't yet entered the public consciousness, and credit card security was far more lax back then than it is now; you could use a credit card at a major retailer without ever being asked for so much as an ID.
Next thing I know, CA is no longer in class. A friend of his sits down next to me and asks if I've heard what happened. I said no, and here's what I was told happened: CA had gone to a local retailer, brought his N64 to the electronics counter, he was not so much as asked for an ID (to also put the security issue in perspective, the name on the card was allegedly a woman's name) or any sort of confirmation. The card was swiped, the receipt was printed, and CA seemed in the clear, ready to walk out the door with his new N64. Then, his stupidity caught up with him: The cashier handed the card back to CA, only for CA to put up his hand and say, "that's okay, I don't need it anymore."
We're going to repeat the statement... because it bears repeating: The cashier went ahead with the transaction, put the N64 in a nice little bag, handed it to CA, along with the printed receipt, then went to give him his card back after swiping it, only to have CA say, in plain english, and with full ignorant-fueled confidence, "that's okay, I don't need it anymore."
I don't really remember what happened following, if CA ever came back to school or if I ever saw him again, but I know he paid for his crime.