Passaic County Prosecutor Camelia Valdes said Peter Mancuso, 43, Roger Davila, 32, and Ceasar Berrios, 26, were arrested after one of the men allegedly bragged about the scheme on Facebook, The (Newark, N.J.) Star-Ledger reported Friday.
The men allegedly used fake names to submit claims of lost or stolen cellphones to Asurion Insurance Services. The company sent replacement phones to a covert address and the men then allegedly sold the stolen phones online.
The alleged scheme took place between December 2009 and August 2013, investigators said.
All three men were charged with insurance fraud, theft by deception, trafficking in stolen goods and conspiracy.