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Olivet University Shut Down During Investigation of Alleged Money Laundering [Correction Added]

Olivet University Shut Down During Investigation of Alleged Money Laundering [Correction Added]

“part of an ongoing criminal investigation into visa fraud, labor trafficking and money laundering”

This is crazy. The investigation has apparently been going on for some time.

Newsweek reports:

New York Shuts Down Olivet University Amid Federal Money-Laundering Probe

New York shut down Olivet University’s operations in the state, saying the Evangelical Christian college was still largely run by a group of David Jang disciples linked to a 2018 criminal conspiracy.

Jang, a Korean American cleric, founded Olivet in 2000. His followers are now in the crosshairs of Department of Homeland Security investigators probing whether the university was part of a scheme to launder money for criminals in China and the United States.

The stinging rebuke by New York’s Deputy Commissioner of Education cited “a pattern of mismanagement” at the university and its ties to “criminal activity” in ending Olivet’s authorization to operate credit-bearing courses or programs in New York.

(Olivet’s campuses in Tennessee and California are likely to also come under scrutiny, and DHS may revoke Olivet’s authorization to enroll international students.)

The education department’s decision to close the Olivet campuses in Manhattan and Dover, New York, after a two-year review, was made on May 17, weeks after Newsweek reported that DHS investigators had searched the premises of Olivet’s headquarters in Anza, California, as part of an ongoing criminal investigation into visa fraud, labor trafficking and money laundering.

A little-known bible college, Olivet University was thrust into the national media spotlight in 2018 when the Manhattan District Attorney announced indictments in a fraud and money laundering probe unrelated to the current federal investigation. Olivet pleaded guilty to money laundering, as did several of Jang’s followers and companies they ran.

CORRECTION 7-20-2022 7:25 p.m. Eastern (by WAJ):

After publication, we were contacted by counsel for Olivet University, who represents that the Newsweek story we quoted incorrectly states that “Olivet pleaded guilty to money laundering . . .” According to counsel, in fact, on February 20, 2020, Olivet University pled guilty to falsifying business records and a lesser-included offense of conspiracy. On February 22, 2022, Olivet University’s pleas were modified to misdemeanor conspiracy and a lesser included count of misdemeanor falsification of business records.

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Comments

daniel_ream | July 4, 2022 at 11:30 am

I’m tempted to remark that all colleges are engaged in money laundering taxpayer money to themselves via student loans.

henrybowman | July 4, 2022 at 10:02 pm

When I saw the headline, I was curious to see if this was yet another woman. But it looks more like Asian organized crime.

This is very serious and a good thing. New York State does a much better job of monitoring public charities than does most states. New York does a much better job of supervising educational institutions than most states.

That leaves the question of whether the standards and criteria used by New York meets your expectations, but that is a fair fight in a state where rural areas are dominated by Republicans and urban areas are dominated by Democrats.

Too bad the authorities aren’t equally interested in Hunter Biden’s pay to play and money laundering activities

    Peabody in reply to rochf. | July 6, 2022 at 2:38 pm

    Hunter Biden is so dirty tha all the laundering in the world will not make him nor his money clean.