After attempting to fake his own death in order to avoid repaying student loans, Boston University graduate David Michael Venezia recently settled a civil court case of student loan fraud for $55,000, according to court documents from the U.S. Attorney’s office. He is also alleged to have kept money he received for education.
Venezia was found making a ‘materially false fictitious and fraudulent statement and representation to the United States Government’ when authorities noticed he was not paying his student loans, and after investigators found he had pocketed another $17,000 in Army funding. Prosecutors said Venezia had fraudulently taken $32,911.98 from the government.
Venezia received funding from the United States Army under its professional development program while in attendance at BU, according to court documents.
Venezia told the Army he was not receiving funds from any other organization, when in fact he received two education grants from BU totaling $13,000, according to court documents. Venezia was already aware of the merit scholarships, and was receiving the Army’s grants when he should not have been, prosecutors alleged.
Venezia had received a ‘refund’ check for $17,031 from BU, because the loans and grants he received covered more than his education costs. Prosecutors said he then proceeded to deposit the ‘refund’ into his account without notifying the Army.
Venezia was employed with the Army from March 1989 until February 2001, and spent time at the Army’s Soldier Systems Center in Natick. Since March 2002 Venezia has worked for the U.S. Department of the Interior and the National Park Service.
Prosecutors believe Venezia currently operates three related businesses, including East Coast Productions Ltd., Modeling Productions, and International Cover Model Search.
Venezia also attended Brandeis University, the Massachusetts Institute of Technology and Northeastern University between 1982 and 1989. He received $23,000 in student loans from the former Boston Five Cents Savings Bank.
He did not repay the loans in the six months after completing school like he agreed. Instead, Venezia filed five Deferment of Repayment forms from 1989 to 1990 stating unemployment as reason for inability to pay.
Venezia was not unemployed, however, as he worked at Natick Labs as a Project Civil Engineer at the time.
MIT sent a letter to Venezia in 1990 declaring his accounts in default for failing to pay his loans. A ‘Michael Venezia,’ claiming to be David’s brother, sent a letter back to MIT informing them David had passed away.
Massachusetts Death Certificate #006398 was submitted to clear the $23,000 in loans that Venezia still owed. The death certificate stated his death was caused by a motorcycle accident in Canton on May 25, 1991.
The death certificate Venezia supplied was a fake. Investigators found the death certificate #006398 was actually for a woman who passed away in September 1991.
Venezia was also found to be using two aliases, David Michaels, and Fred St. Fort, according to court documents.
Investigators who initially questioned Venezia had observed him moving legal-paper-size boxes from his residence to another neighboring residence after confronting him. After his arrest on Jan. 9, 2002, Venezia was released on a $10,000 bond, despite prosecutors’ attempts to freeze his assets.
At the time of his arrest Venezia was suspected of owning a condo worth almost $100,000 in Charlestown, a 1989 Cadillac Allante, and a 26-foot Bayliner boat.
Venezia received a Bachelors of Science from Brandeis and a Master of Science from MIT. He was enrolled in a dual master’s degree program at BU.
Approximately $24,000 of the $55,000 settlement will be paid out by the Department of Education to satisfy Venezia’s outstanding loans. Venezia also resigned from his position at the National Parks Service.
Both Venezia and BU spokesman Colin Riley were unavailable for comment yesterday.