A former Tennessee State University employee is facing federal and local charges for allegedly running two different fraud schemes.
Renauld Clayton, a former employee of the Admissions office at TSU, is charged with student loan fraud, aggravated identity theft and wire fraud.
According to U.S. Attorney Don Cochran, Clayton is facing charges for a scheme he allegedly ran while employed at the university between 2014 and 2015.
The indictment alleges Clayton gained access to the personal information of TSU students and others, changed bank account information and routed students’ federal aid payments to his bank accounts.
U.S. Department of Education and U.S Secret Services investigators started looking into missing student aid refunds in March 2015.
According to officials, the investigation revealed $84,506 stolen from TSU students. Investigators say Clayton also deposited more than $60,000 to his personal bank accounts.
The Metro Nashville Police Dept. arrested Clayton at a Bellevue bank on May 31. Officers said he was in possession of stolen credit cards, more than $9,000 in cash and a fraudulent social security card and drivers licenses not in his name.
If guilty, Clayton faces up to 20 years in prison as well as a $250,000 fine.