What happens to someone who returns something for there money back but substitutes the origanal item?

Question

A few days ago I heard someone talking about this.Someone bought an item from a store like wal-mart,k-mart or target.They return the item but swaped out the new item with somthing similar to it and return it for a full $700 refund.Considering the store gains there ID number,what can the store do.

Answer 1

The store can either proceed with legal action or pursue the individual for repayment, or both.

Answer 2

They can be arrested and tried for fraud.

Answer 3

The store should take action to recover the $700 and press charges on that individual for fraud and whatever charge(s) are appropriate.  

This type of activity drives the prices up for all of us.