NASHVILLE, Tenn. – Renauld Clayton, 31, of Chicago Illinois, formerly of Nashville, was indicted last week on charges of student loan fraud, aggravated identity theft and wire fraud, announced U.S. Attorney Don Cochran for the Middle District of Tennessee.
On Friday, while federal agents were preparing to arrest him, Clayton was arrested by the Metropolitan Nashville Police Department on unrelated criminal charges. Posing as bank employees, officers said they caught Clayton using a counterfeit driver’s license and signed a withdrawal slip using a fake name.
Police searched his vehicle in the parking lot and found 9,500 in cash, a counterfeit social security card, a driver license belonging to someone else, and numerous credit/debit cards.
During 2014-2015, Clayton was an employee in the admissions office of Tennessee State University (TSU). A 12-count indictment returned Wednesday alleges while acting in that capacity, Clayton gained access to the personal identifying information of TSU students and others. He allegedly changed bank account information and diverted students’ federal student aid payments to bank accounts under his control.
According to the indictment, in March 2015, TSU’s internal audit division conducted an investigation into students’ missing student aid refunds. Further investigation by the U.S. Department of Education determined that $84,506.00 had been misappropriated and that Clayton had fraudulently deposited more than $60,000.00 into his personal bank accounts.
If convicted, Clayton faces up to 20 years in prison and a $250,000 fine.
An indictment is merely an accusation. The defendant is presumed innocent until proven guilty in a court of law.