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…

Read full article at www.cbc.ca

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