Financiers and Silicon Valley big shots are featured prominently in the multi-million-dollar criminal college admissions scandal unsealed by prosecutors on Tuesday
LOS ANGELES, CALIFORNIA - MARCH 12: A view of people visiting the University of Southern California on March 12, 2019 in Los Angeles, California. Federal prosecutors say their investigation dubbed Operation Varsity Blues blows the lid off anTPG Capital, one of the world's biggest private equity firms, has placed executive Bill McGlashan on"indefinite administrative leave" after he was named in a sweeping criminal probe of bribery and cheating in college admissions.
According to prosecutors, Singer often hired third parties to take or fix students SAT and ACT exams, or organized conspiracies with university athletic coaches to build fake recruitment credentials that aided their chances of admission. Singer has pleaded guilty to racketeering conspiracy, money laundering, tax conspiracy and obstruction of justice. He faces up to 65 years in jail and a $1.25 million fine.
Hercules Capital, a publicly-traded lender to Silicon Valley technology companies, plunged nearly 9% after its CEO Manuel Henriquez and his wife were charged for their alleged efforts to pay for fraudulent SAT and ACT scores to get their daughter into Georgetown. Henriquez is alleged to have used his connections at Northeastern University to also help admit a client of the Key Worldwide Foundation. Hercules hasn’t responded to an email seeking comment.
Hercules, with assets of around $2 billion, has built a following on Wall Street as a premier lender to Silicon Valley startups, having given capital to firms like Box, DocuSign, Pacira Pharmaceuticals and even Facebook prior to their initial public offerings."If convicted, we believe this could result in Mr.
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Here are the high-flying financiers charged in the college-admissions cheating scandalAmong the parents involved in the sweeping college admissions scheme are high-flying executives like the former Pimco CEO and wealthy real-estate developers.
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Who Are the 33 Parents Charged in the College Admissions Cheating Scandal?In addition to Hollywood celebrities, the former CEO of Pimco and the founder of TPG Growth are among the 33 high-profile parents who allegedly took part in a wide-ranging college admissions scheme.
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The Man Behind the Alleged $25 Million College-Admissions Cheating ScandalThe man at the center of what prosecutors allege is a more than $25 million scam to help wealthy families bribe their way into elite colleges is 58-year-old William Rick Singer.
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Wealthy parents, actresses, coaches, among those charged in massive college cheating admission scandal, federal prosecutors sayIn what is being called the largest college admissions scam ever prosecuted, wealthy parents, Hollywood actresses, coaches and college prep executives have been accused of carrying out a nationwide fraud to get students into prestigious universities, according to a federal indictment.
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Tax Fraud A Key Role In Major College Admissions Scandal Involving Hollywood Actors, CEOs & MoreSome parents will do anything to get their kids into an elite university - even commit tax fraud. That’s what the Federal Bureau of Investigation (FBI) and the U.S. Attorney’s Office in Boston allege happened as part of a massive multi-million dollar college entrance admissions scandal.
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Rigged Game: How the college admissions scandal plays in the 2020 raceFirst Read is your briefing from 'Meet the Press' and the NBC Political Unit on the day's most important political stories and why they matter.
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How the College Admissions Cheating Scheme Unfolded, in Their Own Words'It's $75,000 to get any test scores you would like to get on the SAT or ACT.' Read excerpts of conversations from the college admissions cheating scheme.
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Felicity Huffman and Lori Loughlin among those charged in nationwide college admissions cheating scamHollywood actors, including Felicity Huffman and Lori Loughlin, and a slew of chief executives are among 50 people charged in a nationwide college admissions cheating scam, according to court records unsealed in Boston Tuesday. 'Beginning in or about 2011, and continuing through the present, the
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Actresses charged in college admissions cheating scheme: Live updates.BrookeBCNN: Remember back when you studied hard 'and spent all the extra time on scholarship applications, and then waited with bated breath for the letter or e-mail to come in the mail? Turns out if you are rich and famous, you could have paid for it.'
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Federal Prosecutors Charge Dozens in College Admissions Cheating SchemeProsecutors said the operation involved paying admissions-test administrators to help the students raise their test scores, by either having someone else take the test, or correcting their answers before they were submitted
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