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Rhodes scholar from Alaska faces fraud charges

She's a Fulbright and Rhodes scholar who spent four years at Oxford, has a Ph.D., is a former Miss Anchorage, worked with Mother Teresa and was named by Glamour magazine as one of the most notable college students in America.

On Thursday, a federal grand jury indicted her on 10 counts of fraud.

Investigators say Rachel Yould, 37, created a second identity to get two sets of student loans, using one of them to invest in a Smith Barney account and a private business.

A Bartlett High graduate, Yould now lives in Japan and appears, from a university Web site, to be a professor of media and government at Keio University.

"The U.S. Attorney's office takes very seriously the crime of engaging in a scheme to defraud the institutions that are designed to provide loans for educational purposes," said assistant U.S. Attorney Kevin Feldis.

Prosecutors say in 2003, Yould obtained a second Social Security number under a special regulation of the Social Security Administration for victims of domestic violence and harassment. She then used the names Rachel Hall, her maiden name, and Rachel Yould and the two different Social Security numbers to obtain student loans from the Alaska Commission on Postsecondary Education, the Stafford loan program, and private loans from Sallie Mae Corp.

She used the name Hall to co-sign for student loans for Yould, and didn't notify the lenders that the two Social Security numbers belonged to the same person, prosecutors say.

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