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INVESTIGATORS RECOVER SAFES, DATA FROM STUDENT LOAN COMPANY BURGLARY


Mon, Apr 19th, 2010
Posted in State of Minnesota

ST. PAUL - Investigators with the Minnesota Financial Crimes Task Force (FCTF) and the Minneapolis Police Department have recovered two stolen safes that contained CDs and floppy discs with personal information on more than three million federal student loan borrowers. Investigators say the safes were found in Minneapolis within 48 hours of the burglary, and the personal data on the digital media does not appear to have been compromised.

The safes were stolen during the weekend of March 20-21, 2010 from the Oakdale, Minnesota headquarters of Educational Credit Management Corporation (ECMC), a company which services and insures student loans.

Investigators with the Minnesota Financial Crimes Task Force say Minneapolis Police located the safes on Monday, March 22. The safes had been opened and the CDs and floppy discs, still in their original packaging, were found nearby. Investigators are confident all the CDs and floppy disks - approximately 650 - have been recovered.

The safes and digital media have been in the Minneapolis Police evidence room since March 22. It wasn't until recently the evidence was examined and connected with the Oakdale robbery.

Financial Crimes Task Force investigators have identified one suspect in the case. The suspect has not been charged in this case, but is currently in custody on an unrelated matter. The suspect is not a current or former employee of ECMC. Investigators say there may be additional suspects.

The Minnesota Bureau of Criminal Apprehension Lab in St. Paul is looking at the safes and their contents for additional evidence. When the BCA's analysis is complete, the US Department of Education Office of Inspector General will review the media as a precaution to definitively determine whether the information on the CDs and floppy discs was compromised.

The Minnesota Financial Crimes Task Force and the Oakdale Police Department are conducting the investigation with the assistance of the US Department of Education Office of Inspector General.

Minnesota Department of Public Safety Director of Communications Andy Skoogman will be available to discuss the information in this release today at 9:30am in the Minnesota Department of Public Safety Media Room. ###

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