SANTA ANA (CBS) — A Laguna Hills woman is accused of ripping off five students for more than $260,000 in a fraudulent loan scheme.

Carla Ann Brennan, 63, was arrested Tuesday for allegedly scamming five students, ranging in age from 17-23.

Officials believe she set up the scam to make restitution for a 2008 guilty plea on tax fraud charges.

Authorities say Brennan used her children to meet the unsuspecting students. She reportedly told them she could help them get money for college. After getting their personal information, she would allegedly take them to banks, fill out loan applications and make out loans for many thousands of dollars but only giving the students a small cut.

She also allegedly told the students she would take care of the debts and repay them.

Authorities charged her with five felony counts of grand theft. In addition, she was also charged with five felony counts of money laundering, and a laundry list more; including identify theft, loss more than $100,000, property loss more than $150,000 and committing a crime while on bail.

(©2011 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

Comments (3)
  1. Give me a break says:

    These kids didn’t receive a good education if they fell for this?

  2. Jeffro says:

    Put this deviant criminal sloth in prison for a while. It’s obvious that she lacks the brain, capability or knowhow to earn an honest living. Adults taking advantage of young people under the guise of guiding them are the weakest minded humans on earth.

  3. 1stman says:

    Just another white criminal

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