JET UNIVERSITY and banks!!

Oxman

Oxman

Well-Known Member
Two flight training companies and their owners are being sued (PDF) by Wachovia Bank, which is alleging fraud in the alleged improper disbursement of student loans. As we reported last May, a number of students were caught in the middle of their training when Jet University abruptly closed. Now, some of those students are either unwilling or unable to repay student loans provided by Wachovia Bank and the bank is now saying they shouldn't have gotten the money in the first place.



In the suit filed earlier this week, the bank claims that Jet University was not properly accredited and students got their money through a fraudulent arrangement with SimCenter, a properly accredited institution that applied for the loans on behalf of Jet University. The two institutions then split the money, according to the bank's suit. Both institutions plus Henry George, owner of SimCenter, and Heath Cohen, owner of Jet University, are named in the suit.
 
No pity. Sorry. There has been more information about the perils of that program and how it was being run that if someone got burned, well, there's always that person that's suing because when they ordered coffee, it was shockingly served piping hot.
 
hold the company (finance agents, CEO, CFO, salespeople) responsible for fraud. No student went there knowing they would be screwed.
 
ocdflyboy said:
No student went there knowing they would be screwed.
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Five minutes on Google and they might have had a slight clue that something wasn't kosher with the philosophy of the business model.

I typed in "Jet University" into Google and it came up with this.

They ignored ALL of this information? Personally, at this point, it's caveat emptor.
 
Doug Taylor said:
Five minutes on Google and they might have had a slight clue that something wasn't kosher with the philosophy of the business model.

I typed in "Jet University" into Google and it came up with this.

They ignored ALL of this information? Personally, at this point, it's caveat emptor.
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Same could be said of those with interest only mortgages. I googled it and soon discovered why it was a bade idea. Doesn't mean I don't have some sympathy for those who fell for the lenders' pitches.
 
Murdoughnut said:
Same could be said of those with interest only mortgages. I googled it and soon discovered why it was a bade idea. Doesn't mean I don't have some sympathy for those who fell for the lenders' pitches.
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But how many times has Jetcareers railed against programs like this in the last few years? A simple google search would have yielded a plethora of information that should have given the average person at least a little "pause" before getting involved.
 
It's not about who's to blame, the bank is simply trying to recover it's money, and, while I'm sure it will probably also file suit against the students, this is it's best shot at recovering something.
 
I agree with Doug...If you're going to lay down that type of cash and are really serious about your flight training you'll do some research. If you just watched a JETU commercial and thought it might be cool to fly jets...well...all I can say is lesson learned.... what JET U did makes me so mad:mad:
 
popaviator said:
I agree with Doug...If you're going to lay down that type of cash and are really serious about your flight training you'll do some research.
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Yep. And there's still programs like that going on. For the ATC world, too; there're schools in Denison, Texas and Valdosta, Georgia offering "comprehensive training in air traffic control for immediate entry into one of the highest paying blah blah blah". Costs $45,000+, isn't approved by the FAA, and has been caught in a number of advertising lies by members from both JC and another popular aviation-related forum. No track record whatsoever of "students" becoming controllers. A five minute search on Google'll turn up all sorts of reasons to throw up a red flag, but for some people, it's just too good to be true...

You know what they say about a fool and his money.
 
One of the reasons I left my instructing job when I did is because my school was going to be affiliated with JU. Oddly enough that school is out of business too...
 
I got to agree with Doug on this one. It's an expensive lesson to be learned, but a quick Google search would have raised a red flag with any prudent shopper. Heck, I probably did more research when I was seeking out a spin endorsement.

The horrible thing is the scum that run these types of businesses simply open up shop somewhere else and repeat the cycle.
 
Doug Taylor said:
Nope, but who do I pay for the answer? OMGZ I've GOT to find out!!!!11 :)
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Haha. There was a guy in one of the threads about the fly-by-night ATC places that basically gave that exact answer. "I don't care WHAT you people say, I KNOW that it will work for ME!"

You know... if I can't cut it as a controller... maybe I'll "teach" other people how to.
 
Who in their right mind would take out a $100,000 loan and pay it all UP FRONT to some no name flight school that is not even a college program???
 
Maybe I can help shed some light on the Jet University Disaster....

Prior to November 2008 there was not any credible negative information on Google, or anywhere on the internet, regarding Jet University.

On November 20, 2008, some Jet University students put up a student website called jetuniversitysucks.com. Not only did they expose the scam, they told the world how it was done and provided specific evidence and documentation to back up their claims.

Credible information started to come out on that student website. Those students were well organized and they had their act together. They had good records and they had good attorneys helping them.

In fact the information was so credible that the school itself was out of business within six months because that student website got indexed so well in Google and then everyone could find out what was going on. Today when you type "Jet University" into Google about the only thing that comes up on the first page is that student website.

Prospective students were then able to Google, "Jet University" and find out about the scam and then avoid the place. Once students stopped signing up then it was just a matter of time before Jet University closed. Mr. Cohen ignored the student website and did not believe it was causing prospective students to avoid Jet University.

Heath's attitude was one of "they can't touch me" and "flight schools go out of business all the time."

Unfortunately for Heath and Henry, because the students had their act together, Heath Cohen and Henry George became the first flight school owners in the State of Florida to be charged with fraud in a flight school scam. I will promise you that Mr. Cohen and Mr. George never dreamed they would ever be charged or sued for fraud.

This type of scam has been going on in Florida for close to 30 years and no one ever has been charged with fraud until now. Heath Cohen is now truly the industry leader he wanted to be.

Earlier in 2008, I tried to post a warning about what was going on at Jet University on this very site. My post was deleted probably because Doug had no way of checking it out. While I can't blame Doug, the suppressing of the Jet University information allowed the bad guys to continue to operate the flight school scam.

It's just about impossible to get credible information out about these types of scams because no one seems to care and a lot of people make money because of these scams. (airplane dealers, fuel suppliers, CFI's and other businesses). No one wants to say anything because they don't want to upset the applecart and lose the revenue that is coming their way.

Jet University was a scam from the day it was set up in May of 2006. Students were screwed from day one. Most left the school thinking it was their fault. They didn't realize that Jet U had a system in place to get rid of students and keep their money. If the students had not put up that website, Jet University would still be in business running the same scam.
 
JOEFRIDAY2 said:
Maybe I can help shed some light on the Jet University Disaster....

Prior to November 2008 there was not any credible negative information on Google, or anywhere on the internet, regarding Jet University.


Earlier in 2008, I tried to post a warning about what was going on at Jet University on this very site. My post was deleted probably because Doug had no way of checking it out. While I can't blame Doug, the suppressing of the Jet University information allowed the bad guys to continue to operate the flight school scam.
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I am calling a big BS on the bold parts.

http://forums.jetcareers.com/mind-numbing-topics/45874-info-jetuniversity.html

3/2007 FTW
 
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