The University of Phoenix, a for-profit college, continues to deal with the fallout of an ongoing federal investigation, two years after a private equity firm, Vistria Group – with close ties to President Barack Obama – made a deal to purchase the online university.
The investigation persists despite the Vistria Group’s pledge to operate “with the highest ethical standards.”
The Daily Caller has more:
The Vistria Group is run by Martin Nesbitt, who’s been described as Obama’s best friend and is also chairman of the Obama Foundation. The Apollo Education Group, which owns the University of Phoenix, agreed to be bought in February 2016, and Vistria completed the $1.1 billion purchase a year later.
The deal included an agreement that Vistria Chief Operating Officer Tony Miller would serve as chairman of Apollo Education board of directors. Miller had previously served as the deputy secretary of education for the Obama administration, which was cracking down against for-profit universities through his tenure and beyond.
But despite the Trump administration’s sharp roll back of Obama-era regulations, the Federal Trade Commission has continued its investigation into the University of Phoenix.
Miller pledged Vistria would operate Apollo Education “with the highest ethical standards” when his firm purchased the company. At the time, the company faced multiple federal and state investigations for deceptive or unfair marketing practices.
While representatives with the Federal Trade Commission confirmed the University of Phoenix remains under close scrutiny, they refused to comment on specific details.
AAN Staff
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