Jefferson City Couple Pleads Guilty to Student Loan Fraud
JEFFERSON CITY - Two Jefferson City residents pleaded guilty Thursday to engaging in a bank fraud scheme in which they unlawfully received more than $100,000 in student loans under their child's name.
Lisa Baker and David Baker pleaded guilty to two counts of bank fraud. The two were married at the time, but divorced in 2009.
The couple admitted they received 11 student loans, totaling $102,088 in the name of their child without his or her knowledge from July 2005 to September 2007. The child was identified as RLB in the indictment. Each application was filled out by at least one or both of the defendants, and RLB's forged signature.
According to the U.S. Attorney's office, RLB attended William Woods University from 2003-2007, then graduated from the University of Missouri with a master's degree in 2009. RLB had student loans from Sallie Mae.
In 2011, RLB began receiving phone calls from a collection agency, claiming payments were not being made on his or her loans. In January 2012, RLB looked at his or her credit report and found multiple student loans he or she did not obtain.
Lisa and David Baker did not help their child pay for any college expenses. The Bakers admitted they made no payments on the fraudulent student loans.
The couple could face up to 60 years in federal prison without parole, plus a fine of up to $2 million.