Dive Brief:

• The chief executive and three admissions employees of FastTrain College, a defunct Miami-based for-profit college, have been indicted on charges of conspiracy and stealing government money.
• Prosecutors accuse college officials of coaching students to lie on their federal financial aid forms, admitting 1,300 students with no high school diplomas and receiving $6.6 million in federal financial aid and loan money for those students, the Miami Herald reported.
• The federal government is trying to seize the assets of FastTrain CEO Alejandro Amor, which include a Jaguar XF Portfolio, a $2 million oceanfront home, a private plane, and a 54-foot yacht dubbed “Big One.”

Dive Insight:

At one point, FastTrain had seven campuses in Florida, promising computer and medical career training to students. But the campuses were shut down after FBI raids in May 2012. FastTrain was a big political contributor, with Amor donating at least $6,500 to a South Florida Congressman. A defense attorney for Amor said that for students who were found to be ineligible for a grant or loan, they were not accepted or, if they had already started classes, the money was returned to the government. Nearly 20% of college students in Florida attend a for-profit school, according to the Miami Herald.