{"id":14957,"date":"2020-07-24T14:37:00","date_gmt":"2020-07-24T18:37:00","guid":{"rendered":"https:\/\/framinghamsource.com\/?p=14957"},"modified":"2020-07-24T15:00:27","modified_gmt":"2020-07-24T19:00:27","slug":"mass-attorney-general-secures-160000-in-relief-for-students-victimized-by-online-training-academy","status":"publish","type":"post","link":"https:\/\/framinghamsource.com\/index.php\/2020\/07\/24\/mass-attorney-general-secures-160000-in-relief-for-students-victimized-by-online-training-academy\/","title":{"rendered":"Mass Attorney General Secures $160,000 In Relief For Students Victimized By Online Training Academy"},"content":{"rendered":"\n<p><strong>The following is a press release submitted to SOURCE from the Massachusetts Attorney General&#8217;s office.<\/strong><\/p>\n\n\n\n<p>***<\/p>\n\n\n\n<p><strong>[broadstreet zone=&#8221;53230&#8243;]<\/strong><\/p>\n\n\n\n<p>BOSTON &#8211; Massachusetts Attorney General Maura Healey announced today, July 24, that Online Trading Academy (OTA) will provide $160,000 in relief and loan discharges to certain former students in order to resolve allegations of the school\u2019s unfair and deceptive practices in its real estate investment programs.<\/p>\n\n\n\n<p>Under the terms of an assurance of discontinuance&nbsp;<a href=\"https:\/\/www.mass.gov\/doc\/ota-aod\" target=\"_blank\" rel=\"noreferrer noopener\">filed<\/a>&nbsp;in Suffolk Superior Court, OTA will pay $145,000 to the AG\u2019s Office to provide relief to eligible students who enrolled in OTA\u2019s real estate investment programs and will discharge approximately $15,000 in debts that certain students owe to the school. Individuals eligible for a refund or discharge will be contacted by the AG\u2019s Office.<\/p>\n\n\n\n<p>\u201cThis for-profit educational institution took advantage of students and misrepresented the effectiveness of its programs,\u201d said AG Healey. \u201cThese impacted students will now receive monetary relief and discharges as a result of this settlement.\u201d<\/p>\n\n\n\n<p><strong>[broadstreet zone=&#8221;54526&#8243;]<\/strong><\/p>\n\n\n\n<p>This settlement resolves allegations that OTA misrepresented the nature, character, value, and scope of the capabilities of its real estate courses. The AG\u2019s Office also alleges that OTA made similar misrepresentations regarding its \u201cDeal Board,\u201d OTA\u2019s proprietary real estate investment dashboard. OTA marketed this dashboard as a tool providing access to potential investors and data on distressed, investment-worthy properties, despite the dashboard not satisfactorily providing these services. The AG\u2019s Office also alleges that OTA violated consumer protection regulations by representing to prospective students that real estate programs were being offered for a reduced price for a limited time when they were not.<\/p>\n\n\n\n<p>OTA provides in-person and online financial education and offers courses&nbsp;nationwide. While the primary focus of OTA\u2019s programs is teaching stock market trading skills, several of its locations, including one in Massachusetts, offered programs that teach real estate investing skills.<\/p>\n\n\n\n<p>Addressing fraud and abuse in the for-profit school and student lending industry has been a top priority for AG Healey since taking office, whether taking predatory schools to court, changing the practices of student loan servicers, going after unlawful student loan \u201cdebt relief\u201d companies, or helping student borrowers find more affordable repayment solutions through her first-in-the-nation\u00a0<a href=\"https:\/\/www.mass.gov\/service-details\/learn-about-student-loan-assistance\" target=\"_blank\" rel=\"noreferrer noopener\">Student Loan Assistance Unit<\/a>. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"409\" height=\"519\" src=\"https:\/\/framinghamsource.com\/wp-content\/uploads\/2020\/02\/source.hair_.salon_.advertise.house_.ad_.2019.png\" alt=\"\" class=\"wp-image-623\" srcset=\"https:\/\/framinghamsource.com\/wp-content\/uploads\/2020\/02\/source.hair_.salon_.advertise.house_.ad_.2019.png 409w, https:\/\/framinghamsource.com\/wp-content\/uploads\/2020\/02\/source.hair_.salon_.advertise.house_.ad_.2019-236x300.png 236w\" sizes=\"auto, (max-width: 409px) 100vw, 409px\" \/><\/figure>\n\n\n\n<p>Massachusetts residents who need help are urged to contact the Attorney General\u2019s Student Loan Assistance Unit at 1-888-830-6277.<\/p>\n\n\n\n<p>The OTA case is being handled by Assistant Attorney General Lilia DuBois and Legal Analyst Amanda Hesse of Attorney General Healey\u2019s Insurance and Financial Services Division.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The following is a press release submitted to SOURCE from the Massachusetts Attorney General&#8217;s office. *** [broadstreet zone=&#8221;53230&#8243;] BOSTON &#8211; Massachusetts Attorney General Maura Healey announced today, July 24, that Online Trading Academy (OTA) will provide $160,000 in relief and loan discharges to certain former students in order to resolve allegations of the school\u2019s unfair [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":14958,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[55,15,57],"tags":[4015,135,999,5216],"class_list":["post-14957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education","category-government","category-state-federal-government","tag-lawsuit","tag-massachusetts-attorney-general-maura-healey","tag-massachusetts-attorney-general-office","tag-online-trading-academy-ota"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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