Yould sentencing set for July

Posted: Wednesday, June 23, 2010

ANCHORAGE - The sentencing for a woman who has pleaded guilty to federal fraud charges has been delayed.

Rachel Yould is now scheduled to be sentenced July 7 in federal court in Anchorage. It had been set for Tuesday.

The former Rhodes scholar is accused of defrauding lenders out of $600,000 in student loan money. Prosecutors say she took on a new identity to apply for loans. The Social Security Administration program she used is designed to help rape and domestic violence victims hide from their abusers.

Prosecutors say Yould used the education loan money she received to play the stock market, buy a condo and launch a startup business.

Yould has said her legal problems stemmed from bad advice she got from the federal agency.

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