

Yeah, investing in a company is investing in the whole company and all of its projects. Lies about your company are only fraud when the lies rise to the level of making a material difference to how a typical investor would value that company. If the lies are about a very minor percentage of revenue or profit, then it’s not gonna rise to the level of securities fraud.
No, even if tuition and books are free, financial aid still needs to help full time students have food to eat and have a place to live and ordinary day to day expenses. In many places, the aid on room and board is much more money than aid on tuition and fees.
And community colleges tend not to have their own dorms or anything like that, so it comes in the form of a monthly payment that helps the student pay their rent. That’s an incentive for fraud.