Two men have been sent to jail today for a total of seven years for scamming the Student Loans Company out of £368,000.
31-year-old Daniel Buchanan and 22-year-old Mustapha Ali ran a scheme where they made false applications for people to apply for grants and loans from the Students Loan Company.
Buchanan and Ali would use false A Level exam certificates to apply for student loans for undergraduates, as well as taking a cut of the money for themselves and charging £1000 for the service. The Southwark Crown Court also heard that many of the applicants withdrew their university applications so that they could apply for multiple loans.
Suspicions were raised when Buchanan, who was enrolled at London Met university on a Criminal Law and Criminology course, rang the Student Loans Company more than once pretending to be different applicants. SLC realised that the calls were being made from the same number and this led to the two men’s arrest.
In December 2012, a number of properties linked to Buchanan and Ali were searched where £30,000 cash was recovered as well as a number of designer jewellery and clothing. Ali used the fraudulent earnings for trips to New York, Florida and Dubai.
Buchanan was jailed for three years and Ali was given a four year sentence.
I know people like to act like ballers on their student loan but this is taking it to a next level.