Federal and state prosecutors are poised to announce a settlement with Education Management Corporation, one of the nation's largest for-profit college chains, that would resolve allegations it defrauded taxpayers out of $11 billion, according to people familiar with the case. The settlement, which may be announced as soon as Monday, is likely to require Education Management to pay roughly $100 million -- less than 1 percent of the federal student aid the U.S. Department of Justice and about a...
Federal and state prosecutors are poised to announce a settlement with Education Management Corporation, one of the nation's largest for-profit college chains, that would resolve allegations it defrauded taxpayers out of $11 billion, according to people familiar with the case. The settlement, which may be announced as soon as Monday, is likely to require Education Management to pay roughly $100 million -- less than 1 percent of the federal student aid the U.S. Department of Justice and about a...
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