SEC Starts Inquiry Into Records at ITT
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ITT Educational Services Inc. said the Securities and Exchange Commission has started an inquiry into whether the technical-school operator falsified records, an allegation also under investigation by the Justice Department.
The inquiry involves claims “relating to student attendance, grades and academic progress and graduate job placement statistics, and fraudulent misrepresentations regarding the transferability of credits,” the company said in an SEC filing.
ITT directors and executive officers last month received grand jury subpoenas for records, as U.S. agents searched 10 of its 77 offices, the company said. Carmel, Ind.-based ITT hasn’t been accused of any wrongdoing.
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