A major Silicon Valley venture capital firm broke ties with the company’s founder after he informed partners that the mastermind of the sweeping college admissions scandal helped get his son into college.
The teen is identified in the complaint as a resident of Los Altos Hills, Calif., and public records show Schaepe has a house in the wealthy Silicon Valley town.
Days after the father made the donation, Center emailed to notify him that the university would be sending his son a letter announcing its intent to award him a type of scholarship under which the school pays the costs of an athlete's books as part of the recruitment process, the complaint said. In the weeks that followed, the applicant’s father made two more stock transfers to Singer’s foundation that totaled more than $175,000, according to the complaint.The source close to Schaepe said Schaepe adamantly denies any wrongdoing and believed his payments to the foundation were legitimate donations meant to help disadvantaged youth.
After identifying the University of Texas-Austin as a good fit for the teen, Singer “introduced” Schaepe to someone in the athletic department who indicated they could help arrange for Schaepe’s son to be the basketball team’s manager, said the source, who did not know the identity of the person.
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