Feds uncover $1.4M 'ghost student' financial aid fraud scheme in Virginia

Federal authorities are targeting widespread financial aid fraud through "Operation Ghostbusters," an initiative aimed at scammers who use real stolen identities to create fake student accounts and apply for federal loans. In a case out of Virginia, a suspect is charged with siphoning $1.4 million in student aid refund deposits and diverting the money to accounts in both the United States and Kenya. Investigators have tracked at least $1.3 million of the diverted funds as federal law enforcement works to locate the individual.