Illinois, Massachusetts investigating DeVry
BY JON SEIDEL Staff Reporter email@example.com April 16, 2013 9:04AM
Updated: April 16, 2013 3:35PM
College operator DeVry faces probes in Illinois, Massachusetts
The attorneys general of Illinois and Massachusetts are investigating Downers Grove-based DeVry Inc., the private college operator said Monday in an SEC filing.
DeVry, which has nine campuses in the Chicago area and one in Merrillville, Ind., said it received a subpoena from the Illinois Attorney General earlier this month. The subpoena concerns whether DeVry had an incentive-based compensation structure. The Illinois subpoena seeks documents for a time period “on or after” Jan. 1, 2002, school officials said in the filing.
The Massachusetts investigation concerns “whether DeVry caused false claims and/or false statements to be submitted to the Commonwealth of Massachusetts relating to student loans, guarantees, and grants provided to DeVry’s Massachusetts students.”
Massachusetts’ civil investigative demand, received more recently than the Illinois subpoena, requires DeVry to answer questions and provide documents related to a period “on or after” Jan. 1, 2007.
“DeVry is approaching them with a view toward transparency and an interest in demonstrating the compliant nature of its practices in cooperation with the authorities,” DeVry officials wrote. The company has more than 95 locations in the U.S.