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Trade School Fraud #333681

CBS Evening News for Tuesday, Jul 10, 1990
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(Studio: Dan Rather) Private New York, New York, trade school reported ordered to refund money to former students because of recruitment violations. Report introduced.

(Tallahassee, Florida: Richard Threlkeld) Trade school fraud detailed; scenes shown from commercials; details given of FBI investigation of Joseph Caloriso and brother, owners of American Career Institution (ACT); scenes shown from Pompano Beach, Florida and from student protest in Jacksonville, Florida. [Former ACT student Pam HAND, former ACT sales representative Jim FOSTER - describe scam.] Congressional investigation of federal guaranteed student loan program and school accrediting agencies noted. [Senator Sam NUNN, United States Department of Education Leonard HAYNES, National Association of Trade and Technical Schools Stephen BLAIR - comment.] Missouri attorney general William Webster reported inventing false trade school to prove ease of accreditation. [WEBSTER - comments.] [Bank of Horton, Kansas, Anthony PIZZUTI - defends high loan activity.]

Reporter(s):
Rather, Dan;
Threlkeld, Richard
Duration:
00:04:40

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