The story of one of the nation's most notorious bankruptcy and fraud cases, Florida-based College Bound Inc., is about to end quietly, as 1,616 former employees finally receive back pay totaling a half-million dollars. The bankruptcy trustee for College Bound, an educational testing and tutoring firm that collapsed in April 1992 due to fraud, has collected nearly $500,000 to pay the former workers.
May 10, 1999 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The story of one of the nation’s most notorious bankruptcy and fraudcases, Plantation-based College Bound Inc., is about to end quietly, as1,616 former employees finally receive back pay totaling a half-milliondollars.
The bankruptcy trustee for College Bound, an educational testing andtutoring firm that collapsed in April 1992 due to fraud, has collectednearly $500,000 to pay the former workers who are owed money.Checks will likely go out in early June.
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