From what I'm hearing around Cranfield over the last couple of weeks, it is a lot more than just a rumour. Sounds like some fairly sound reasons behind the school being closed down as well.
Doubtless more official stuff will come out in due course, so I'm not going to repeat what I've heard since doubtless some of it is exaggerations, just say that if any of it is true, the CAA were quite right to contribute to the school's closure.
G