Calgary police have laid charges in a student loan scam that defrauded several schools and a provincial agency out of more than $240,000.
The investigation started in October 2019 when a provincial peace officer with the Advanced Education Special Investigations team contacted Calgary police after noticing multiple inconsistencies with several student loan applications, according to a release on Tuesday.
Investigators determined it was part of a scheme run by two men from May 2017 to May 2020 to defraud Alberta Student Aid and several private post-secondary institutions.
It’s believed the culprits used stolen identities from 21 unsuspecting people — whose personal information had been stolen in data breaches — to fraudulently apply for student loans.
The two men used the stolen identities to enroll at numerous post-secondary schools and to open bank accounts to receive the financial aid.
“The suspects would physically…