Former employee at Tennessee State University sentenced to prison for stealing $84,000 in student loan funds
A former employee in the admissions office of Tennessee State University in Nashville has been sentenced to 32 months in federal prison for fraudulently receiving and misappropriating more than $84,500 in student loan payments
The U.S. Attorney's Office for the Middle District of Tennessee says that Renauld Clayton, 32, of Nashville, pleaded guilty earlier this year to to student loan fraud, aggravated identity theft and wire fraud.
Clayton admitted that during the 2014-15 school year, he obtained the personal identifying information of Tennessee State students and others and applied for student loans in their names.
When the funds were received, Clayton diverted the money to his own use and others and deposited more than $60,000 of the funds to bank accounts that he controlled.
In addition to imposing the prison sentence, U.S. District Judge Eli J. Richardson ordered Clayton to pay $84,506.00 in restitution
