Cedar Rapids man pleads guilty to student loan fraud - KWWL - Eastern Iowa Breaking News, Weather, Closings

Cedar Rapids man pleads guilty to student loan fraud

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CEDAR RAPIDS (KWWL) -- A Cedar Rapids man pleads guilty to student loan fraud.  U.S. Attorney's say 21 year-old Cory Alan Bailey, from Cedar Rapids, admitted to participating in a scheme with others to fraudulently obtain federal student loan money.

U.S. Attorney's report Bailey admitted to recruiting others to sign up for classes at Kirkwood Community College in Cedar Rapids.  Officials say he then created e-mail accounts and started receiving loan checks in the names of those students, who were not actually attending classes.

Bailey faces a possible maximum sentence of 20 years imprisonment plus fines.  Sentencing has not yet been set.  Bailey is free on bond.

 

 

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