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Where The Rich Buy Their College Degrees: Pakistan
Featured in Zero Hedge Daniel Drew, 5/20/2015 Tweet When it comes to world traveling, nothing beats the sights and sounds of Pakistan. While traveling through the country, you might stumble upon a Navy SEAL mission to kill the most wanted terrorist in the world, get acid thrown in your face, or earn a diploma from a fake American university. One person from Saudi Arabia paid $400,000 for various degrees and certificates. Generally, counterfeiting signals strong demand for a product. However, with less and less people with college degrees actually getting jobs, eventually, you'll look at the rich Saudi who blew $400,000 on a fake degree and the unemployed American graduate and wonder, "What's the difference?" As The Daily Mail reports: A Karachi-based IT company, Axact, has been accused by software agencies of operating 370 bogus institutions. The company's fake education empire encompasses hundreds of high-schools and universities with mostly American names. At least 370 fictitious high-schools and universities operated by Axact were discovered by an American media group. The firm, with a team of over 2,000 employees who are mostly educated youth in Karachi, creates fraudulent websites, mainly using deceptive tactics.One of the "schools" is Barkley University: The American version of Axact is Corinthian Colleges. The "Heald" branch gamed its job placement numbers to attract students. The LA Times reported: Heald considered graduates "placed" in jobs they had well before they enrolled. At Heald's Honolulu campus, staff members considered a 2011 accounting graduate to be "employed in the field" based on a food service job she had at Taco Bell since 2006.Everest College, another Corinthian subsidiary, created fake jobs to boost their employment numbers. The college paid contractors $2,000 to hire graduates for 30 days. Corinthian filed for bankruptcy earlier this month, and 78,000 students are requesting loan forgiveness from the federal government. Apparently, part of the secret Trans-Pacific Partnership agreement is exporting our educational fraud to Pakistan. And thanks to free trade, consumers around the world can benefit. Here's one guy who wasn't buying degrees from the Pakistanis:  |