Pinellas County Woman Pleads Guilty To Student Loan Fraud Conspiracy
Tampa, FL - Shaneva Boyd (30, Clearwater) pleaded guilty today to an Indictment charging her with conspiracy to commit federal student financial aid fraud. Boyd faces a maximum penalty of five years in federal prison. Boyd was indicted in November 2011.
According to the plea agreement, in or about January 2006, Shaneva Boyd's husband and co-conspirator, James Boyd, formed "Graduate Assistance and Consolidations, Inc." (GAC), located in St. Petersburg, Florida. Shaneva Boyd served as the secretary of GAC. GAC purported to be in the business of assisting individuals with applying for federal student financial aid.
Between late 2005 and August 2007, Shaneva Boyd and others assisted individuals who did not have a high school diploma or a general equivalency degree (GED) with fraudulently enrolling for admission at St. Petersburg College (SPC). During this time, she also assisted certain individuals with completing the forms to apply for and obtain federal student financial aid (loans and grants). Boyd and others caused misrepresentations to be made on those forms. Once the financial aid packages were processed and approved, dozens of student financial aid checks for the various individuals were mailed from SPC to addresses associated with GAC. Boyd and her husband kept a substantial portion of the monies paid out in financial aid.
This case was investigated by the United States Department of Education, Office of the Inspector General. It is being prosecuted by Assistant United States Attorney Cherie L. Krigsman.