The university had been criticised in the wake of the rejection of a state school pupil, Laura Spence, who subsequently was offered a scholarship for Harvard University in the United States.
Ms Spence's best friend from secondary school, Amanda Robertson, said that she worked for a company, Fraser Properties, set up by Ms Spence in Great Western Road, Glasgow, as an office worker but left in 2010 after many customers began to complain about the mortgage and lettings company.
Recent research by Michael Spence and Sandile Hlatshwayo of New York University's Stern School of Business found that 98% of employment growth between 1990 and 2008 occurred in non-tradable industries.