Sacto 9-1-1
November 16, 2012
Elk Grove man, brother charged with student loan fraud

An Elk Grove man and his brother are in federal custody, charged with student loan fraud.

A federal grand jury in Sacramento on Thursday returned a 12-count-indictment charging Mordechay Altit, 33, of Elk Grove, and his brother Shay Din Altit, 44, of Los Angeles in a scheme to fraudulently obtain student loans, according to Department of Justice news release.

According to the indictment, Mordechay Altit obtained more than $200,000 in student loans from banks through fraudulent representations. He allegedly submitted applications on which he fraudulently represented the names of the students applying for the loans, their Social Security numbers, their incomes, and that they were attending or planned to attend schools such as Harvard Law School, the Yale School of Medicine and California State University, Sacramento.

After receiving some of the proceeds from two of the student loans, Mordechay Altit wrote checks for more than $19,000 to his brother Say Din Altit, officials said.

Shay Din Altit was arrested Oct. 29 in Los Angeles. Mordechay Altit was in federal custody on unrelated charges, according to the news release.

The case resulted from an investigation by the Internal Revenue Service-Criminal Investigation and the Federal Bureau of Investigation.

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