Matteo Fontana, the former general manager for financial-partner services in Education Department's student-aid office, pleaded guilty to conflict-of-interest and false-statement charges over his ownership of stock in a loan company, The Wall Street Journal reported. Fontana held as many as 10,500 shares of Education Lending Group Inc. when he joined the Education Department in 2002, prosecutors said. The holdings became public when Andrew Cuomo, New York State's attorney general, started investigating conflicts of interest between the lending industry and colleges.
- Shaking Up Loan Industry
- Quick Takes: Loan Scandal Fallout, Imus Apologizes to Rutgers Athletes, Harvard Deans Take on Textbook Costs, The Regent Connection, Northwestern in Qatar, Oakland U. Plans Med School, 3 Minn. Athletes Accused of Rape
- Updates on the Loan Scandal
- Scrutiny and Self-Scrutiny on Loans
- Mr. Cuomo Comes to Washington
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