Wednesday, July 5, 2017

SEC settles fraud case against for-profit college ITT

July 3, 2017
By The Washington Post

WASHINGTON-- The Securities and Exchange Commission has settled its fraud case against ITT Educational Services, but it continues to pursue top executives from the defunct for-profit college firm for deceiving investors about high rates of late payments and defaults on student loans backed by the firm.

A final judgement order filed Friday resolves civil fraud charges brought against the company two years ago for false and misleading statements about the failure of two in-house student-loan programs.  There is no monetary penalty, and the company did not admit any wrongdoing.

Read the full article at the OregonLive website here.

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