From Phoenix: Federal agents made arrests in a case involving millions of dollars allegedly diverted from students. Two men face charges including wire fraud and money laundering. A grand jury indictment was issued against them.

The accused men are said to have used the funds to purchase luxury items. Their alleged actions are described as exploiting public trust for personal gain.

Further details about the case and the individuals involved are available from the source, including information about their backgrounds and the schools they were associated with.