A federal court awarded a $9.2 million default judgment against the Lacy School of Cosmetology and Earnest “Jay” Lacy.

Settlement Amount:

$9,200,000

The allegations arose from a lawsuit, claiming that the owner of Lacy School of Cosmetology submitted false claims to the U.S. Department of Education for federal student loans and grants.

According to the United States Attorney’s Office, the federal government's investigation discovered that Lacy School of Cosmetology had misappropriated funds by intentionally failing to comply with many federal program regulatory requirements, making unauthorized disbursements of federal student aid funds, failing to refund student credit balances, and covering up its actions by submitting false statements of compliance.

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A federal court awarded a $9.2 million default judgment against the Lacy School of Cosmetology and Earnest “Jay” Lacy.

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