Last year, the SEC charged ITT, its CEO Kevin Modany and its chief financial officer Daniel Fitzpatrick with fraud. Last October, a federal judge in Illinois ruled that Corinthian must pay $531 million in damages to former students for misleading them about their career prospects and engaging in other deceptive practices. Corinthian, which once operated more than 120 schools with more than 110,000 students across North America under the Everest, Wyotech and Heald brands, filed for bankruptcy in May 2015 in the largest failure of a college chain in U.S. history.