Financial Fraud: Tyrone Young Sentenced To Committed Federal Student Loan Fraud

<h2>Danville Man Sentenced on Wire Fraud&comma; Identity Theft&comma; Student Loan Fraud Charges<&sol;h2>&NewLine;<p>Tyrone Young Defrauded More than a Half-Dozen Universities<br &sol;>&NewLine;Danville&comma; VIRGINIA – A Danville resident&comma; who committed federal student loan fraud by enrolling dozens of individuals in online universities for personal financial gain&comma; was sentenced yesterday in federal court to more than nine years in prison&comma; United States Attorney Thomas T&period; Cullen announced&period;<&sol;p>&NewLine;<div class&equals;"mh-content-ad"><script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js&quest;client&equals;ca-pub-9162800720558968"&NewLine; crossorigin&equals;"anonymous"><&sol;script>&NewLine;<ins class&equals;"adsbygoogle"&NewLine; style&equals;"display&colon;block&semi; text-align&colon;center&semi;"&NewLine; data-ad-layout&equals;"in-article"&NewLine; data-ad-format&equals;"fluid"&NewLine; data-ad-client&equals;"ca-pub-9162800720558968"&NewLine; data-ad-slot&equals;"1081854981"><&sol;ins>&NewLine;<script>&NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi;&NewLine;<&sol;script><&sol;div>&NewLine;<p>Tyrone Dwayne Young&comma; 30&comma; was sentenced yesterday to 111 months in federal prison&period; The Court&comma; also ordered Young to pay restitution of more than &dollar;1&period;1 million to the United States Department of Education and eight institutions of higher education&comma; including Strayer University&comma; Capella University&comma; Post University&comma; the University of Phoenix&comma; Derry University&comma; Kaplan University&comma; Argosy University and Liberty University based in Lynchburg&period; The Court’s sentencing orders follow Young’s guilty plea on November 1&comma; 2018&comma; to one count of wire fraud&comma; one count of student <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;category&sol;loans&sol;amp&sol;" title&equals;"loan" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"302">loan<&sol;a> fraud&comma; and one count of aggravated identity theft&comma; the latter of which carries a mandatory sentence of two years&period;<&sol;p>&NewLine;<p>According to information presented at previous hearings by Assistant United States Attorney Kari Munro&comma; beginning in or about May 2016&comma; Young started using the personal identifiers of family members and friends to enroll them as students in online universities&period; Working through Department of Education and university websites&comma; he created fraudulent student profiles to enroll his victims in online courses of study for the purpose of obtaining federal student loans in their names&period; His victims never completed their courses of study and eventually failed or were withdrawn&comma; in most instances after student loan funds for their educational programs had been disbursed&period; Young tracked and orchestrated the receipt of these fraudulent student loan funds for personal use&period;<&sol;p>&NewLine;<p>Eventually&comma; Young expanded his efforts to include individuals outside his immediate circle of family and friends&period; Posing as a higher education employee&comma; Young encouraged low-income residents in the greater Danville area to provide their personal identifiers for enrollment purposes&comma; promising free government money and other benefits&period; In all&comma; Young’s scheme involved the use of personal identifying information for more than 60 individuals&comma; resulting in an attempted loss to the Department of Education and affected institutions of more than &dollar;1&period;4 million&period;<&sol;p>&NewLine;<p>Investigation of this case was conducted by the United States Department of Education&comma; Office of Inspector General and the United States Postal Inspection Service&comma; with assistance from the Virginia State Police&period; Assistant United States Attorney Kari Munro prosecuted the case for the United States&period;&Tab;&Tab;&Tab;&Tab;<&sol;p>&NewLine;

Financial FraudLoans Fraud