Student Loan Fraud Ring Indicted for Scamming $400000 From Feds
18.05.12
Fifteen people were indicted Friday in South Carolina for their roles in an alleged student loan scam that defrauded more than $400,000 in financial aid from the federal government.
A 25-page indictment from the U.S. District Court of South Carolina, Charleston Division, alleged that the defendants, beginning in 2006, helped other individuals apply for grants and take out student loans to enroll in for-profit college online programs at the University of Phoenix, Grand Canyon University, and Capella University, even though those individuals never intended to go to college.
Source: NextStudent (blog)