Well they are going down!!! see the full story at http://chronicle.merit.edu/free/2001/11/2001110501u.htm
All the main characters are named (and framed).

The Center of University Graduate Studies Graduate College,
also known as Degree.com, has been fined $213,000 by the Texas
Commissioner of Higher Education for designating itself a
university and for offering master's and doctoral degrees without
state authority. Prior to levying the fine, commissioner Don W.
Brown requested that Degree.com make several policy changes,
including no longer calling itself a university; the cessation
of granting students degrees and credits toward degrees; the
notification of students, graduates, and applicants that the
institution has no authority to grant degrees; and the
rescinding of degrees already awarded to students and the
refund of their tuition. However, Degree.com's legal
representative Enrique G. Serna did not comply with Brown's
request, said David Linkletter of the Texas Higher Education
Coordinating Board. Degree.com President Armando A. Arias Jr.,
dean of social and behavioral sciences at California State
University-Monterey Bay , on Friday said he had not heard
about the fine.
(Chronicle of Higher Education Online, 5 November 2001)