Ingham County's prosecutor signed 11 arrest warrants, charging the students for their part in a scheme to defraud their credit union.
The detectives investigating say all 11 gave their ATM cards and PINs to a team who masterminded the scam. The team then deposited bad checks into the accounts, withdrew money, and split the net with the account holder. When questioned, the students were coached to say a relative had deposited the check, or that their bank card was stolen.
Each was to recruit others in the scheme, but detectives say they foiled the plan within a week in March.
The investigation has progressed until now. The 11 account holders are charged. The ring leaders are still under investigation.