Louisiana Crook Convicted For $1.4 Million in Fake Student Loans

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Con-men who trick unsuspecting citizens are some of the lowest-of-the-low. Not only do they steal your hard-earned money - they make you feel stupid for falling for their tricks. Now, you're dumb and broke. As bad as that is, most of those guys pale in comparison to Elliott Sterling.

According to a report from Casino.org, Federal prosecutors say that Elliott illegally obtained $1.4 million in federal financial aid funds by filing tons of fraudulent paperwork to enroll more than 250 people into Baton Rouge Community College (BRCC). Many of those people reportedly didn't even qualify to take classes at the college (some were even in jail at the time). After acquiring the funds on their behalf, Sterling then proceeded to blow hundreds of thousands of dollars at casinos in Louisiana, Nevada, and Pennsylvania.

How did he do it? According to the report:

Through his company, Sterling Educational Consulting, LLC, the defendant told some of the students that he could help them get financial aid that they would not need to repay. Typically, the students did not have access to their accounts with FAFSA, and Sterling kept most of the loan for himself.

According to the U.S. Department of Justice's release, Sterling decided to represent himself in court this week. He claimed that he was being persecuted for making money and added: “Today is the day I truly believe justice will be served.” The jury unanimously found him guilty on all 15 counts of wire fraud, financial aid fraud, and money laundering. He was also found guilty of " fraudulently obtaining a $90,000 COVID-19 support loan." He reportedly fudged the revenue numbers for his Sterling Educational Consulting company when he applied for the relief funds.

He is scheduled to be sentenced on July 7.

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Filed Under: Louisiana

Categories: Chica & the Bald Guy, Education, Louisiana News