I suppose a $9.25 million restitution fund for mis-led students is better than nothing, but for New York Attorney General Eric Schneiderman to proudly announce a pitiful penalty of $1 million for Career Education Corporation’s blatant fraud on placement rates in their marketing materials is just embarrassing.
And to require no admission of wrongdoing just adds insult to injury.
$1 million for a company of this size is a rounding error - where are the sanctions? Where are the moratoria on enrolling new students until the company cleans up its act?
At the very least they should have hit them for $1 million for everyone of their 90 campuses and refunded the money to the students who were given false information.
Too harsh of a penalty? Wouldn’t that be a novel idea!