SAN DIEGO/EWORLDWIRE/Aug. 10, 2009 --- While running the software program designed to authenticate the educational degree claims made by officers of public companies, the Fraud Discovery Institute Inc. (FDI) made the discovery that Terrell Herring, president and COO of New Jersey-based inVentiv Health Inc. (Nasdaq: VTIV), claims to have an M.B.A. from Pacific Western University, a well-known "diploma mill" that ceased to exist by that name in 2007. In a letter sent to the Office of Attorney General of the State of New Jersey, FDI utilized the U.S. Department of Education's definition of "diploma mill" to establish beyond any doubt that Pacific Western University meets the criteria.
According to FDI Co-founder Barry Minkow, "I also e-mailed the company days ago asking if it was aware of or if it could respond to our inquiry about the company president and COO and his credentials listing his highest earned degree as an M.B.A. from Pacific Western University, and that it appears such conduct is a criminal offense in the State of New Jersey? We never heard back."
The investigation conducted by FDI affirmed that even a cursory examination reveals multiple Web sites of state government agencies and other consumer protection Web sites which all include Pacific Western University on their list of known diploma mill schools that require little or no course work to complete a degree.
See:
'http://www.consumerfraudreporting.org/Education_Degree_Scams_Unaccredd...'
'http://www.michigan.gov/documents/Non-accreditedSchools_78090_7.pdf'
'http://www.maine.gov/education/highered/Non-Accredited/UnaccreditedSch...'
'http://www.quackwatch.com/04ConsumerEducation/dm0.html'
As part of the Terrell Herring investigation, FDI also interviewed nationally known expert and author Mr. John Bear, the author of "Bear's Guide to Earning Degrees and Distance Learning," and discovered that Pacific Western University had locations in Hawaii and California but, since both locations were run by the same people from the same office address, there was little distinction to note between the two schools. Bear also added that: "There are at least ten states that understand the danger in an individual being able to simply buy a degree without having the education or experience that would be required to have such a degree conferred by an accredited, legitimate educational institution, and those states have established laws prohibiting such behavior."
Herring's use of the M.B.A. designation is contained in multiple company SEC Proxy Statements (for example, http://www.sec.gov/Archives/edgar/data/1089473/000 108947309000030/proxydoc.htm) which appears to be a clear violation of the laws of the State of New Jersey.
Minkow states, "In a recent SEC filing, the company revealed that it violated SEC Regulation G governing non-GAAP financial measures, such as EBITDA, and failed to make other appropriate disclosures about certain transactions."
To learn more, visit FraudDiscovery.net ('http://www.frauddiscovery.net').
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