Justice Department Uncovers $200 Million Student Loan Fraud Scheme Involving AI and Identity Theft

The U.S. Department of Justice has announced indictments in "Operation Ghostbusters," revealing a student loan fraud scheme that caused over $200 million in losses. Perpetrators allegedly used stolen identities and artificial intelligence to apply for federal student loans and simulate online class attendance. Five individuals have been charged, and over $750,000 in cryptocurrency seized, with unwitting victims reportedly burdened with debt for unpursued degrees.