Pinellas County Woman Sentenced To Prison For Participating In Student Loan Fraud Conspiracy
Tampa, FL - U.S. District Court Judge Susan C. Bucklew sentenced Shaneva Boyd (30, Clearwater) today 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 court also ordered Boyd to pay restitution in the amount of $77,364.00 and to forfeit substitute assets in the amount of $70,000.00. She pleaded guilty in August 2012.
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. GAC purported to be in the business of assisting individuals with applying for federal student financial aid. Shaneva Boyd served as the secretary of GAC.
Between late 2005 and August 2007, Shaneva Boyd and her husband used GAC to carry out a student loan fraud scheme by assisting individuals who had neither a high school diploma, nor a General Equivalency Degree (GED), with fraudulently enrolling for admission at St. Petersburg College (SPC) and then fraudulently applying for federal student financial aid. During the course of the scheme, Shaneva Boyd caused false statements to be made on student financial aid forms and directed dozens of financial aid checks for various individuals to be mailed to addresses associated with GAC. Boyd and her husband kept a substantial portion of the monies.
On October 23, 2012, James Isaac Boyd (40, St. Petersburg) pleaded guilty to conspiring to commit student loan fraud, committing student loan fraud, and aggravated identity theft. He is scheduled to be sentenced on January 13, 2013.
This case was investigated by the United States Department of Education, Office of Inspector General. It is being prosecuted by Assistant United States Attorney Cherie L. Krigsman.