Thread regarding Dream Center Education Holdings, LLC (DCEH) layoffs

NY Times

"One person, though, is primed for a big payday: the court-appointed receiver who quickly shut down the schools."

https://www.nytimes.com/2019/06/21/business/dream-center-argosy-university-art-institutes.html

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Post ID: @OP+ZFduSdI

11 replies (most recent on top)

What a POS. Students ripped off, employees not paid, fake medical insurance they deducted from paychecks and now unpaid medical claims we have to deal with...what nerve. Dottore and judges in on the scam with DCEH. All makes me sick to my stomach.

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Post ID: @6abh+ZFduSdI

The 16 million went probably to pay bills, keep the lights on and staff from walking but I doubt it covered more than a week or two in expenses. That should have been caught by the receiver before they spent the money. It was his job because the company had been in free fall from the start. Most of the same admin that ran EDMC into the ground remained with DCEH. In the end the big losers will be the students, campus staff and tax payers who have to cover all the defaulted loans.

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Post ID: @5jgt+ZFduSdI

@ZFduSdI-4iou

Stop pontificating. Don't be coy. You embezzle 16 million dollars and then treat it as an accounting error and it's business as usual? It's a criminal matter not a procedural nose-picking exercise in providing ZIP JUSTICE to those who have already been completely trashed.

So decry Ad Hominem all day long with the usual reductionist simpleton characterizations that in your case will never come close to leading a horse to water or make a blind man see.

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Post ID: @4caj+ZFduSdI

@ZFduSdI-3wus

What are you saying and why? The judges are complicit and need to be locked up too? Move to another country if you are so upset with the judicial system. Sounds like you have a long time grudge going. Better ways to live a life. Move on!

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Post ID: @4iou+ZFduSdI

From the OP cited N.Y. TIMES article:

"When Dream Center Education Holdings imploded in *[March], thousands of students and employees of the large college chain were suddenly locked out of their classrooms. Some $16 million in federal financial aid that was owed to students had disappeared, while landlords, teachers and vendors faced hundreds of millions of dollars in unpaid bills."

'The firm asked that (crony lawyer) Mr. Dottore — who had been working with Dream Center since *[October] as a paid consultant — be named receiver.' ( 6 moths prior to the embezzlement---Dottore was an insider. (So was the theft was planned months in advance?), (can you say conflict of interest?) First a consultant and then the RECEIVER!

'Wait for the court to tell us what happened, nothing else matters.' EXCEPT JUSTICE AND THE EMBEZZLED OF 16 MILLION! (fact)

But history repeats itself: Recognize the MO?

https://www.clevescene.com/cleveland/please-not-mark-dottore/Content?oid=1504133

'Cuyahoga County Judge Daniel Gaul deserves a congratulatory man-hug. When Myers University

President Richard Scaldini decided to inexplicably plunge the business school into bankruptcy in December — even though he had a buyer at the door — Gaul stepped in. It was a rare moment of activism from the county bench, where the main priorities have always been lunch and bolting by 2 p.m. to get a really early jump on rush hour.

'...in the mean time...'

Instead of cashing the school in, Gaul had Scaldini jailed for violating a gag order, then kept Myers afloat in hopes of finding a solid buyer. In the meantime, he's appointed a special master to oversee the school's finances.

Unfortunately, that master is Mark Dottore, whose résumé includes stripping an impressive list of dying businesses to pad his own pockets ["King Nothing," February 9, 2005].'

Yes. A LOT more matters if this EMBEZZLEMENT is sanctioned by the out to lunch la di da court.

By the way, Is it lunch time yet?

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Post ID: @3wus+ZFduSdI

Together, the receiver’s applications sought court approval to pay $2,151,681.61. No parties or interventions have objected to the fee!

Has there been any credible journalist make any valid complaints? The court is the only credible source! They will decide! Even the NY Times as usual can't really make their own case. The following from them shows us how petty these 2 times writers are about money.

Mr. Dottore acknowledged that some expenses had been filed in error. Those included an $87 charge at XpresSpa at Reagan National Airport that he said an assistant had mistakenly thought was a meal for two.

Then they write, "Stephen J. Donell, a longtime receiver who is not involved in the Dream Center case, said a total bill of more than $2 million for the first few months of a complex receivership was high but plausible, given the challenges of winding down operations at dozens of campuses with tens of thousands of students and employees."

Wait for the court to tell us what happened! Nothing else matters.

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Post ID: @3vzw+ZFduSdI

Just a thought:

This anointed Receiver shows up one day and proceeds to instill confidence into the mayhem by saying he can't make heads or tales of where the millions went, still unaccounted for.

BUT THE SOB HAS THE ABSOLUTE COJONES TO REQUEST 2 MILLION DOLLARS---FOR WHAT!!!

Wheeze might know where at least an unaccounted for 2 Million Dollars might be? But why 2 million and not the other 14 million? Expenses maybe?

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Post ID: @3hsj+ZFduSdI

@ZFduSdI-1slr , why couldn't you believe that ED and DeVos approved the sale? David Halperin could tell you about all the political players, including Eitel. Old-timers would know even more about the rise and fall of Ai and the other former EDMC schools.

It wasn't nearly about Obama as it was about EDMC leadership, including Jock on one side and Todd N on the other. When Obama came in, subprime education was already looking like a dumpster fire. With Trump, it's looking like the fire has spread and it's much more difficult to contain. Deregulation, defunding, and privatization at the state and federal levels are adding fuel to the College Meltdown.

http://collegemeltdown.blogspot.com/

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Post ID: @2rtk+ZFduSdI

People knew who he was going in.

https://www.clevescene.com/cleveland/please-not-mark-dottore/Content?oid=1504133

https://www.thelayoff.com/t/XA08sPA

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Post ID: @1pnf+ZFduSdI

I can hear him now, "please sir may I have two million dollars. I promise to be a good boy and say my prayers."

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Post ID: @bsl+ZFduSdI

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