The Strong Defense
The Strong Defense
Clearwater Woman Sentenced to Year in Prison for Student Loan Fraud
Shaneva Boyd of Clearwater was sentenced earlier this month to 12 months and 1 day in federal prison, followed by 3 years of supervised release, for participating in a conspiracy to commit federal student financial aid fraud. The federal court in Tampa also ordered her to pay $77,364.00 in restitution and to forfeit substitute assets in the amount of $70,000.00. Boyd previously pleaded guilty in August 2012.
According to the plea agreement, Boyd’s husband formed “Graduate Assistance and Consolidations, Inc.” (GAC), located in St. Petersburg, Florida in January 2006. GAC purported to be in the business of assisting individuals with applying for federal student financial aid. Shaneva Boyd served as the corporate secretary of the company.
Court documents indicate that, between late 2005 and August 2007, Shaneva Boyd and her husband (through GAC) assisted Tampa Bay area individuals who had neither a high school diploma nor a General Equivalency Degree (GED), with fraudulent enrollment for admission at St. Petersburg College and then fraudulent application for federal student financial aid.
Law enforcement alleged Shaneva Boyd caused false and fraudulent statements to be made on student financial aid forms and directed dozens of financial aid checks intended for various co-conspiring individuals to be mailed to addresses associated with GAC. Boyd and her husband retained most of the funds received instead of utilizing the monies for tuition and other student expenses.
Boyd’s husband pleaded guilty in October 2012 in Tampa’s federal court to conspiring to commit student loan fraud, committing student loan fraud, and aggravated identity theft and will be sentenced in January 2013.