Former Education Official Pleads Guilty to False-Statement Charges - WSJ.com:
"A former senior U.S. Education Department official pleaded guilty to conflict-of-interest and false-statement charges over his stock ownership in a student-loan company.
Matteo Fontana, the former general manager for financial-partner services in Education Department's student-aid office, held as many as 10,500 shares of Education Lending Group Inc. when he became an department employee in 2002, prosecutors said. In 2004 and 2005, he sold shares in the company and received proceeds of almost $219,000, according to prosecutors.
Mr. Fontana's stock holdings came to light in the aftermath of New York Attorney General Andrew Cuomo's 2007 investigation of allegedly improper payments and other inducements to colleges by Education Lending and other student-loan companies. Neither Mr. Montana's attorney nor Education Department officials could be reached for comment."
"A former senior U.S. Education Department official pleaded guilty to conflict-of-interest and false-statement charges over his stock ownership in a student-loan company.
Matteo Fontana, the former general manager for financial-partner services in Education Department's student-aid office, held as many as 10,500 shares of Education Lending Group Inc. when he became an department employee in 2002, prosecutors said. In 2004 and 2005, he sold shares in the company and received proceeds of almost $219,000, according to prosecutors.
Mr. Fontana's stock holdings came to light in the aftermath of New York Attorney General Andrew Cuomo's 2007 investigation of allegedly improper payments and other inducements to colleges by Education Lending and other student-loan companies. Neither Mr. Montana's attorney nor Education Department officials could be reached for comment."
