The Wisdom of Scam College Operator Carl Barney
Carl Barney says defrauded students want “free stuff,” when he’s the one who defrauded them and made billions through a tax-exempt non-profit funded almost entirely with taxpayer money.
Below is some wisdom, on his blog, from Carl Barney, the ultra-wealthy operator of a chain of tax-exempt “non-profit” colleges that:
— a Colorado judge hit last year with a $3 million verdict for fleecing low-income students;
— lost accreditation this spring over poor educational quality and terrible student outcomes;
— had their CEO, Eric Juhlin, suspended in April from federal contracting by the U.S. Department of Education;
— are being investigated for student loan abuse by the Consumer Financial Protection Bureau (Let me ask: Who does own “AR Management,” which services the Barney schools’ “EduPlan” private student loans — maybe somewhat who worships Ayn Rand?);
— had their application for a bogus conversion from for-profit to non-profit status rejected by the U.S. Department of Education;
— are being sued for fraud by the U.S. Justice Department; and also:
— have received some $2 billion in taxpayer dollars from federal student aid, much of that going straight into Carl Barney’s wallet, funding charitable ventures like his plan to live to age 120.
OK, here’s that wisdom:
Free stuff, indeed. Some of these ex-students are desperately broke because Barney fleeced them, making billions through a tax-exempt, non-profit funded almost entirely with taxpayer money — getting money for worse than nothing