Maricopa Co., AZ – Dupage Co., IL (ECWd) –
In a time when money is tight and students are earning less and less, while public corruption is running rampant throughout the country, it is comforting to see that there are incentives for doing the right thing.
Let’s look at two community colleges and apply some simple logic and prove not only is knowledge power, it pays!
The College of DuPage is sitting on $251,478,130.00 in investments. According to the February investment report they are earning a whopping .32% interest. (POINT 32%, not 32%) (Click here for investment report)
Not to get side tracked, but it’s worth pointing out the US Bank investment of over $1.6 Million is drawing a whopping $.01%! How special is that deal……………..for US Bank! More on that later!
I don’t think there is any question with anyone at this point that there are serious problems at COD that are pointing to out-right fraud! With that in mind, let’s take a look at a recent situation just settled with the United States Department of Justice.
This particular case is quite interesting considering the college is the very same one COD Foundation Director Catherine Brod is on the short list for CEO of their Foundation, Maricopa County Community College District.
One person with “knowledge” of wrongdoing stood up for what was right! She was a whistle blower! She got an attorney, filed suit in the Federal Courts, and that knowledge led to a $775,827.00 pay off to include 19% interest!
An additional $128,725.00 was ordered to be paid for her alleged emotional distress damages, which shall not be subject to any withholding.
Unless I am missing something in the math, it appears doing the right thing is earning far more income and interest in more ways than ever imagined! The whistle blower is rewarded, the fraud is exposed, and hopefully a lesson of what NOT to do is laid down for others to learn from.
How Special!
At COD we have allegations of the fudging of credit hours, and Marricopa College was fudging time cards for student hours among other things.
Once again, consider this a call to action! If you have first hand knowledge of possible crimes, you not only have an obligation to report it but there is a way to get paid to do it as a Whistle Blower!
Read or download the case below and you will see, one person CAN make a difference!
(Click here for the Law Suit File)
(Click here for the Settlement Agreement)
[gview file=”https://edgarcountywatchdogs.com/wp-content/uploads/2015/04/MaricopaCountyCommunityCollegeSettlementAgreement.pdf” save=”1″]
[gview file=”https://edgarcountywatchdogs.com/wp-content/uploads/2015/04/MCCCInitialComplaint.pdf” save=”1″]
2 Comments
Dan Smith
Posted at 10:58h, 07 AprilEducational institutions have strict requirements on the safety and security of investments. As a result, most of these have low interest rates right now. Compare to other institutions and you will see it is not out of line.
Chris M. Gaines
Posted at 18:46h, 03 AprilKnowledge of a crime pays a little, ya…but if you’re our public servant in our corrupt government, or a corrupt politician crime pays even better than.. knowledge of a crime, obviously. Why is that?