Lots of people are fighting the recession by going back to school to broaden their skills. A decent idea, but not if you’re using identity theft to help pay tuition.

Federal prosecutors last week accused former Federal Reserve Bank of New York IT analyst Curtis Wiltshire, 34, of stealing personal information from other Fed bank employees to apply for about $73,000 in student loans. His brother, Kenneth Wiltshire, 40, allegedly stole the identities of two federal employees as part of a scam to borrow money to pay for a 2006 Sea Ray 340 Sundancer speedboat.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.