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唐朱昌
唐朱昌
教授,博士生导师。复旦大学中国反洗钱研究中心首任主任,复旦大学俄...
严立新
严立新
复旦大学国际金融学院教授,中国反洗钱研究中心执行主任,陆家嘴金...
陈浩然
陈浩然
复旦大学法学院教授、博士生导师;复旦大学国际刑法研究中心主任。...
何 萍
何 萍
华东政法大学刑法学教授,复旦大学中国反洗钱研究中心特聘研究员,荷...
李小杰
李小杰
安永金融服务风险管理、咨询总监,曾任蚂蚁金服反洗钱总监,复旦大学...
周锦贤
周锦贤
周锦贤先生,香港人,广州暨南大学法律学士,复旦大学中国反洗钱研究中...
童文俊
童文俊
高级经济师,复旦大学金融学博士,复旦大学经济学博士后。现供职于中...
汤 俊
汤 俊
武汉中南财经政法大学信息安全学院教授。长期专注于反洗钱/反恐...
李 刚
李 刚
生辰:1977.7.26 籍贯:辽宁抚顺 民族:汉 党派:九三学社 职称:教授 研究...
祝亚雄
祝亚雄
祝亚雄,1974年生,浙江衢州人。浙江师范大学经济与管理学院副教授,博...
顾卿华
顾卿华
复旦大学中国反洗钱研究中心特聘研究员;现任安永管理咨询服务合伙...
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上传时间: 2023-01-12      浏览次数:621次
Baton Rouge man sentenced for financial aid fraud, money laundering

 

https://www.brproud.com/news/baton-rouge-man-sentenced-for-financial-aid-fraud-money-laundering/

 

BATON ROUGE, La. (BRPROUD) — The United States Department of Justice has sentenced a Baton Rouge man to 132 months in federal prison after being convicted of fraud schemes and money laundering relating to financial aid.

 

According to United States Attorney Ronald Gathe Jr., 34-year-old Elliot Sterling was previously indicted in 2020 for the listed crimes.

 

Evidence during the trial shows Sterling received $1,468,239 in his personal bank and business bank accounts from federal student aid loans and grants that were connected to 180 Baton Rouge Community College students. Sterling allegedly used student’s personal information to complete their Free Applications for Federal Student Aid (FAFSA), enroll them in classes, and create the student’s BankMobile accounts that received federal student loans, giving him the ability to funnel Department of Education money directly into his own accounts.

 

Sterling also had fake academic qualifications for 168 students created. Of those students, 145 of them did not obtain a high school diploma. A witness testified that Sterling paid him $5,000 to create 42 diplomas with fake grades. The majority of the students Sterling received money from either withdrew or failed classes. Some students were incarcerated when their FAFSAs were submitted.

 

According to the Department of Justice, Sterling submitted a small business loan application on behalf of Sterling Educational Consulting, LLC, in which he changed the business’s proceedings to cover his prior guilty plea. As a result, the Small Business Administration loaned Sterling $90,000 for the business to remain in operation during the COVID-19 pandemic. Sterling allegedly withdrew $75,000 in cash, while simultaneously spending over $253,000 at casinos in Louisiana, Nevada, and Pennsylvania.

 

Official documents state after the eight-day trial, the jury unanimously convicted Sterling of five counts of wire fraud involving a scheme to defraud the Department of Education federal student aid program, two counts of financial aid fraud, two counts of wire fraud involving the Small Business Administration Economic Injury Disaster Loan Program, and six counts of money laundering involving the earnings from two wire fraud schemes he was linked to.

 

The court ordered Sterling to pay restitution in the amounts of $2,760,422 to the U.S. Department of Education and $90,000 to the Small Business Administration.