FastTrain CEO Alejandro Amor is charged with conspiracy and theft of government money after an investigation showed that his chain of for-profit post-secondary institutions were really fronts for his get-rich-quick scheme.
Miami-based FastTrain College and its seven campus in the South Florida area targeted at-risk students in high school with promises of being able to get jobs in the IT field.
The college used very aggressive recruiting techniques such as non-stop calling, $500 referral bonuses and allegedly even used strippers to entice would-be recruits.
But it was all just a scheme to rake in Federal Student Aid money. By making sure the students attended at least five sessions, and backdating applications, Amor could keep the cash rolling in, all at U.S. taxpayer’s expense.
Between 2009 and mid-2012, FastTrain received more than $35 million in Pell grants and other federal financial aid, most of it allegedly going to support Amor’s lavish lifestyle, which included a $2 million beachfront home and a yacht.
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