of inventing millions of fake customers to boost its value.
Frank was misleading students about how much financial aid was available under the March 2020 CARES Act, which had allocated about $7 billion for emergency grant aid to students due to the coronavirus pandemic, and how easy it was to access it, Whistle wrote. The company promised students help accessing the grant money, but all Frank was doing was generating a form letter students could send to university administrators.
But the reality was that a close read of Frank's terms revealed students would need to pay back the advances within two months, the FTC wrote.
Another Holmes and SBF
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