Wednesday, December 3, 2008

Student Loan Funds Stolen

A New Jersey thief is headed for the school of hard knocks after being indicted for stealing student loan funds:
A New Jersey man has been indicted for stealing over $2.3 million from a student loan company based in New York City. The defendant’s three companies were also charged with concealing the stolen funds.

Troy Hill, 34, a funding and portfolio manager at MRU Holdings, was authorized to transfer money earmarked for loans to college students from the company’s Deutsche Bank account into an Affiliated Corporate Services account before the funds were distributed to the students as loans.
Read the article in the North Country Gazette.

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