JEMB Drops Lawsuit Against Troubled ASA College, But Controversy Lingers
JEMB Realty ends legal battle with ASA College, exposing corruption and misconduct in the for-profit college industry.
After a long and contentious legal fight, JEMB Realty has officially dropped its lawsuit against ASA College, an embattled for-profit school owned by Alex Shchegol. The lawsuit was filed after ASA College failed to make rent payments for their expansive lease at JEMB's Herald Center at 1293 Broadway. While the legal battle may be over, the controversies surrounding ASA College and its owner continue to cast a dark shadow over the for-profit college industry.
The lease agreement between JEMB and ASA College was initially signed in 2013, with the school expanding its footprint to almost 160,000 square feet in the 10-story building. However, when ASA College began missing rent payments in 2020, JEMB took legal action against the school and its owner, Joseph Jerome. This legal battle exposed the corruption and misconduct that has plagued ASA College and its owner, making them a prime example of everything wrong with for-profit colleges.
Aside from the missed rent payments, ASA College has been embroiled in multiple controversies, with at least ten women accusing Shchegol of misconduct. This has led to Shchegol becoming the poster child for the shady practices and lack of accountability in the for-profit college industry. Despite these controversies, ASA College continues to operate, raising questions about the effectiveness of regulations and oversight in the industry.
With the legal battle now over, the question remains: what will become of ASA College and its owner? Will they continue to operate with little consequence, or will they be held accountable for their actions? Only time will tell, but for now, the controversy surrounding ASA College and its owner lingers on.