Former Tennessee State University Employee Indicted For Federal Student Loan Fraud
$84,500 in Student Loan Payments Misappropriated
NASHVILLE, Tenn. – June 4, 2019 – Renauld Clayton, 31, of Chicago Illinois, formerly of Nashville, was indicted last week on charges of student loan fraud, aggravated identity theft and wire fraud, announced U.S. Attorney Don Cochran for the Middle District of Tennessee.
A 12-count indictment returned Wednesday, alleges that during 2014-2015, Clayton was an employee in the admissions office of Tennessee State University (TSU). While acting in that capacity, the indictment alleges that Clayton gained access to the personal identifying information of TSU students and others, changed bank account information, and diverted students’ federal student aid payments to bank accounts under his control.
According to the indictment, in March 2015, TSU’s internal audit division conducted an investigation into students’ missing student aid refunds. Further investigation by the U.S. Department of Education determined that $84,506.00 had been misappropriated and that Clayton had fraudulently deposited more than $60,000.00 into his personal bank accounts.
On Friday, while federal agents were preparing to arrest him, Clayton was arrested by the Metropolitan Nashville Police Department on unrelated criminal charges.
If convicted, Clayton faces up to 20 years in prison and a $250,000 fine.
This case was investigated by the U.S. Department of Education and the United States Secret Service. Assistant U.S. Attorney Sara Beth Myers is prosecuting the case.
An indictment is merely an accusation. The defendant is presumed innocent until proven guilty in a court of law.
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