Alabama Woman Indicted for Bank Fraud in Connection with the Fraudulent Application for Student Loans

DENVER (LAWFUEL) – Rachel Anne Bogle, age 35, of Fort Mitchell, Alabama, was indicted by a federal grand jury in Denver last week on charges of bank fraud in connection with her illegally obtaining student loans, U.S. Attorney Troy Eid and FBI Special Agent in Charge James Davis announced. The indictment was returned by the federal grand jury on September 10, 2008. Bogle has been summoned to appear in U.S. District Court in Denver on September 30, 2008, at 1:30 p.m., before U.S. Magistrate Judge Kristen L. Mix.

According to the allegations in the indictment, Rachel Bogle illegally obtained four student loans from three different banks by forging the signatures of her aunt and uncle, who live in Colorado, as cosigners and co-borrowers on each loan application. Bogle allegedly obtained the loans totaling $64,000 from Union Bank of California (Firstar Bank, Milwaukee), Wells Fargo Bank, and Union Bank of California (Bank of America). The loan disbursal dates ranged from December 2001 through August 2003.

Bogle is charged with four counts of bank fraud. If convicted, she faces up to 30 years in federal prison, and not more than a $1,000,000 fine for each of the four counts.

“Bank fraud hurts everyone, especially during these challenging financial times,” said U.S. Attorney Troy A. Eid.

The investigation was conducted by the Federal Bureau of Investigation (FBI).

The case is being prosecuted by Assistant U.S. Attorney John Haried.

The charges are only allegations and the defendant is presumed innocent unless and until proven guilty.

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