https://cca.hawaii.gov/hpeap/files/2019/02/stipendreport.pdf
The USDE already said they aren't paying the money and are going to discharge the owed amounts. What other work around is the receiver aiming for? This is why Argosy was put on HCM2 - they don't have the money and the government doesn't want the tax payers left with bill.
It is a little bit of a chicken or the egg argument, but the chicken has been laying rotten eggs for awhile...
@ -iqi
It makes perfect sense. They appointed a receiver that didn't have the cash on hand to advance the payments and await reimbursement under HCM2. I don't see a scam here. If it was, all he did was bring massive attention to the issue so he can't get away with anything. It sounds like all he's angling for is an exception to HCM2 to get the cash to pay the stipends.
'To be clear: the money to pay the Student Stipends is not missing.
Under DOE regulations, the receivership has to have on hand $13 million to advance to
students, and then the DOE reimburses the receivership.
Because the receivership never had sufficient resources to pay the Student Stipends, it could not advance the money; because the funds could not be advanced, the DOE regulations state that it
is under no obligation to reimburse. '
That first sentence doesn't make any sense. The money IS missing or the students would have been given the monies owed them and they wouldn't be in this mess.
Dottere is using a play on phrases and words to skirt the truth with the second sentence.
3rd sentence -- of course he didn't have it because the money IS missing
The missing money is not rocket science to figure out- all he has to do is subpoena the records - ask DOE what bank the money was deposited and then subpoena the bank to state where and who the money was dispersed.
Dottere is just covering up a theft by deflecting the issue and protecting creditor interests by requesting more money from the DOE.