Despite losing all of a nearly $13 million investment in now-defunct ShoreBank in 2010, the former administrators of the College Illinois prepaid tuition plan just a few months later decided to plow $14 million into a startup luxury hybrid automaker that recently suffered a blistering review from Consumer Reports.Can you say Fisker?
The revelation came in a special state audit, released today, of the Illinois Student Assistance Commission's management of the $1.1 billion fund backing the college savings of more than 30,000 Illinois families.
Wednesday, May 09, 2012
Illinois prepaid tuition fund invests in luxury car startup: audit
Crain's Chicago Business reports:
