American Commercial Colleges’ President Sentenced on Federal Charges
A Lubbockite was sentenced this morning to two years in federal prison for his part in the theft of government funds by American Commercial Colleges.
Thursday October 2, Doyle Brent Sheets of Lubbock was sentenced on one count of misprision of a felony and one count of theft of government funds and aiding and abetting on behalf of American Commercial Colleges. Sheets is president of ACC and pleaded guilty personally and on behalf of the company after being authorized to by a corporate resolution.
American Commercial Colleges, Inc has corporate offices housed in Lubbock and at one time operated five campuses across Texas and one in Shreveport, LA.
According to Sheet’s plea agreement, ACC stole government funds by converting Federal Student Aid funds resulting in the loss of more than $970,000 which Sheets new about but did not report.
As part of American Commercial Colleges’ plea agreement, the corporation will be excluded from participating in any FSA programs or from having ownership or interests in any post-secondary educational institution participating in any FSA programs.
Sheets was sentenced by U.S. District Judge Sam Cummings to two years in federal prison, restitution in the amount of $972,794.70 and a $5,000 fine. ACC was sentenced by Cummings to five years of probation, restitution in the amount of $972,794.70 and a $1.2 million fine.
Two other involved parties were also sentenced. Michael James Otto of Lubbock and Brace Alan Reed of San Angelo both pleaded guilty to misprision of a felony and will face probation, restitution payments and fines.
The investigation into American Commercial Colleges was conducted by the United States Department of Education, Office of Inspector General and Assistant U.S. Attorney Paulina Jacobo prosecuted.