SEC’s $300,000 ITT Settlement Leaves Trail of Questions | Indianapolis Business Journal
The Securities and Exchange Commission came at ITT Educational Services Inc.’s two top executives with guns blazing three years ago, declaring that CEO Kevin Modany and Chief Financial Officer Daniel Fitzpatrick “engineered a campaign of deception and half-truths.”
Students Cry for Debt Relief After For-Profit College Collapse, While Executives Admit No Wrongdoing | Market Watch
As a young high school graduate, Joseph Schettler had dreams of working for the FBI or becoming a forensic psychologist. He took steps to make those dreams a reality. Schettler became the first person in his family to go to college, enrolling in the criminal justice program at ITT Tech in 2006 with assurances from the school that he would surely get a job in his field.
ITT Execs Offered ‘Sweetheart Deal’ | Politico
That’s how lawyers representing defrauded ITT students are describing the settlement reached late last week between the Securities Exchange Commission and two former senior executives of ITT Educational Services Inc., the company behind a troubled for-profit college that shuttered in 2016.
Top ITT Executives Agree to Fines, Ban From Top Corporate Jobs in SEC Settlement | Indy Star
The top executives of the defunct Carmel company that operated ITT Technical Institute have settled fraud charges with the Securities and Exchange Commission. Former CEO Kevin Modany will pay $200,000 and former Chief Financial Officer Daniel Fitzpatrick will pay $100,000 to resolve allegations that they concealed ITT Educational Services’ worsening financial condition from investors in the years leading up to the company’s collapse.
Former executives of defunct for-profit college firm ITT settle fraud charges with SEC | Washington Post
Former top executives at ITT Educational Services, the parent company of defunct ITT Technical Institute, have settled fraud cases with the Securities and Exchange Commission, avoiding a trial slated to begin Monday. A judgment order entered Friday puts to rest civil fraud charges filed in 2015 against former ITT chief executive Kevin Modany and former chief financial officer Daniel Fitzpatrick for allegedly deceiving investors about high rates of late payments and defaults on student loans backed by the company.
On ITT and the Education Department, No More Excuses [Op-Ed] | The Washington Post
For years, predatory for-profit colleges have exploited the promise of higher education, cheating students and leaving them in mountains of debt they never should have had. Making it worse, the industry has been enabled by a Department of Education that has made excuse after excuse about why it can not step in to help students.
Students from Defunct ITT Tech Get a Shot at Claiming School’s Remaining Assets | The Washington Post
A federal judge approved a settlement Wednesday allowing former students at ITT Technical Institute to participate in the bankruptcy proceedings of its parent company, giving them a shot at the remaining assets of one of the nation’s largest for-profit college operators.
Bankruptcy Court Settlement Could Bring Relief to Some ITT Students | The Boston Globe
Thousands of students nationwide who attended the now-defunct ITT Technical Institute would have nearly $600 million in loans canceled under a proposed court settlement, a significant win for consumers in Massachusetts and elsewhere who have long claimed that the for-profit chain defrauded them out of money and an education.
Duped into Paying for Worthless Degrees, these Former For-Profit College Students Could Get Their Money Back | MarketWatch
Former students of a for-profit college who say they were duped into paying for worthless degrees could get some of their money back, thanks to a recent motion in the now-defunct school’s bankruptcy case.
Feds Found Widespread Fraud at Corinthian Colleges. Why are Students Still Paying the Price? | The Washington Post
Nearly 80,000 students of defunct for-profit giant Corinthian Colleges are facing some form of debt collection, even though the U.S. Department of Education unearthed enough evidence of fraud to forgive their student loans, according to an investigation by the staff of Sen. Elizabeth Warren (D-Mass.).