12/28/09. Simcenter Inc, Jet University, Heath Cohen and Henry George were named as defendants in a civil Fraud suit filed by Wachovia Bank. The suit was filed in Palm Beach County Florida. Here is a link to the suit:
CIVIL FRAUD SUIT SIM CENTER/ JET UNIVERSITY
Most of the Jet University student loans were put through THE SIM CENTER as the front man. The bank would then cut a check to THE SIM CENTER for the loan amount because the bank believed the Jet University students were actually students at THE SIM CENTER.
The reason the loans were put through THE SIM CENTER was because Jet University could not qualify to receive student loans because they were not able to demonstrate the financial stability and longevity to the banks.
The way it worked was that the Jet U sales reps would instruct the students applying for loans to put The Sim Center education number on the loan applications. Sim Center would then receive the check, take a commission, and then turn the funds over to Jet University.
In reality, most Jet University students never set foot in the Sim Center.
The Sim Center is located at the following address:
6601 NW 36th Street
2nd Floor
Miami, FL 33166
Phone: 305-871-5270
Fax: 305-871-5272
Here is their website:
http://www.simcenter.cc/