Securities,
Government,
Education Law
Apr. 28, 2020
SEC charges education company with bond fraud
The defendants were aware of various issues concerning the company’s finances they neglected to disclose, including being unable to make payments on high-interest loans and taking out a new line of credit that had been drawn to its limit just months before the 2015 bond offering, according to the complaint.
The Securities and Exchange Commission on Monday charged the heads of Tri-Valley Learning Corp. with securities fraud for misleading investors about a bond offering to expand their public charter schools.
William Batchelor and John Zukoski allegedly failed to disclose the company was in serious financial distress in connection with the sale of $25.54 million in municipal bonds, the SEC said.
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