Feds Bust Kenyan Nationals for Stealing Student Aid Money and Buying Crypto

Today, we are announcing the results, the first results, of Operation Ghostbusters, a nationwide effort to stop a major fraud scheme targeting federal student aid, low-income Americans, and the American taxpayer. It is schemes like this one that President Trump, Vice President Vance, and the White House Task Force to Eliminate Fraud are resolved to defeat. Throughout the year, Americans submit a FAFSA application with the Department of Education, praying they might receive the funds or loans necessary to attend college. For many, that FAFSA application is their only chance. The American people know this, and so they generously fund federal student aid programs to help students and families who otherwise couldn't pay for college. But every year, alongside those eager American students submitting their student loan applications, praying for a better future, are fraudsters submitting fraudulent student loan applications by the thousands, preying on the American taxpayer and American victims. Operation Ghostbusters is working to stop them. Let me briefly describe how this scheme works. First, criminals steal the identities of real Americans. They specifically target Americans who haven't attended college. They use those stolen identities to create ghost students to apply to colleges across the country. Next, they apply for federal student aid using those same stolen identities. And if successful at duping the Department of Education, Ed then sends the aid money to the college where the ghost student is enrolled. After tuition and fees are deducted, the leftover federal funds are deposited directly into bank accounts controlled by fraudsters. And in a flash, the money vanishes, often overseas to places like Kenya.