The Princeton Review is a well-known world in the name of academics. The company provides test prep programs, evaluates the nation’s colleges and even prepares a list of the nation’s top green universities. This well-known business is now facing charges of fraud.
The U.S. Attorney in New York has filed a lawsuit against the Princeton Review claiming that it fraudulently collected funds from a federal program designed to help improve the academic standing of underprivileged children.
Ben Rooney reports on the issue for CNNMoney.com stating that the lawsuit alleges several instances of fraud that took place between 2002 and 2010, specifically naming Ana Azocar.
“Prosecutors said Princeton Review employees forged student signatures, falsified sign-in sheets, and provided false certifications in order to increase the company's payment as a provider of Supplemental Education Services (SES).” Source: CNNMoney.com
Rooney goes on to explain that most of the current management staff at the Princeton Review were hired after the alleged incidents occurred but that the company is working with the U.S. Attorney to get the matter resolved.
This news comes at an interesting time. President Obama is working towards reforming the student loan system, including an executive order signed last week that is designed to stop predatory pitches aimed at military members.