Posted on 03/14/2019 9:03:23 AM PDT by Beautiful_Gracious_Skies
Nearly a Dozen Real Estate Honchos Charged in College Cheating Scheme
Nearly a dozen real estate CEOs were among the nearly 50 people charged in a nationwide scheme to cheat on college entrance exams to get children into elite colleges, federal prosecutors said.
The mostly California-based suspects, which include a former Cushman & Wakefield broker and the former CEO of investment management firm Pimco, allegedly bribed coaches and school administrators to gain admissions into schools like Yale, Stanford, USC and Georgetown, the U.S. Attorney’s Office in Boston announced this morning.
From 2011 to 2019, prosecutors said that William Singer, 58, of Newport Beach, Calif., would bribe exam administrators to allow test takers to take the SAT and ACT on behalf of students or fix the tests afterward. Singer would also pay off athletic coaches and school staff to get others into universities by claiming they were recruited to play sports.
Under the scheme, Singer would hide the payments from parents, which included actress Felicity Huffman and Lori Loughlin, through a non-profit he ran, prosecutors said.
Among the 33 parents charged by federal prosecutors on Tuesday in the scheme include former C&W broker and founder of Woodside, Calif.-based developer WP Investments Bruce Isackson, 61, who was charged with conspiracy to commit mail and wire fraud.
Other real estate bigwigs hit with the same charges include Douglas Hodge, 61, the former CEO of Pimco; Robert Flaxman, 62, the CEO of California-based Crown Realty & Development; Manuel Henriquez, 55, the CEO of venture lending platform Hercules Capital; William McGlashan Jr., 55, a senior executive at private equity firm TPG; John Wilson, 59, the CEO of Massachuets-based developer Hyannis Port Capital; Robert Zangrillo, 52, the CEO of Miami-based developer Dragon Global and Jane Buckingham, 50, the CEO of marketing company Trender which worked with brands like Gap and Target.
It about the connections the kids they will make, not the education.
They are set for life when they are friends with the right people.
I’ve heard that once you are in a career field, that nobody cares where you went to college.
I’ve worked with many top notch professionals, who went to colleges that were not prestigious, and some I had never heard of. Yet they had the requisite degrees in the professional field to embark on their career. They didn’t need to go to Harvard to be successful in a career."
This is true for the vast majority of jobs out there.
However, the massive law firms, private equity firms, hedge funds and top executive level (CEO, Chairman) at the mega international corporations...where you went to school means a lot more. It's part of continuing to be in the club.
This scandal could get so big that students who got turned down for acceptance at many colleges may want to reapply again. It’s that bad, in my humble opinion.
Now we know where the guys who wrote the TV series “Suits” got their idea. A kid with a photographic memory who took the Bar exam for aspiring attorneys.
I just remembered that the NFL promised Cupcake Kaepernik’s BLM handler that they were going to make more racist black scholarships available.
The narrative seems to be that the privileged white “scholars” have been busted.....
This has been going on since the late ‘60’s.
This is a diversion of smoke and mirrors to take away from
Mueller report...… or rather the big Nothing Burger!
So colleges and universities are churning out uneducated students?
Who knew?
I don’t get it either. Just at lunch at my work I just saw a 60 year old guy walking around in a blue blazer and a Yale baseball hat.
I colleccted a J school degree at Iowa.
Then moved on to selling coal and heavy oil...
Or the beginning of something bigger.
The media in this country has been working against us since before Cronkite.
Time to wreck it.
If they keep investigating no telling who else’s kids might have gotten in on bribes. Kids with parents in the deep state? This could be huge
Q: How do you tell a Yale man?
A: You don’t have to, he’ll tell you.
So, racial preferences in admissions prevented the rich White brats from getting into top colleges! They weren’t willing to claim they were Indians or trans, but they knew that money always opens doors.
Did you notice that the prosecution took place during the Trump administration, and not bammy’s? bam is the idol of the vapid airhead entertainment crowd, and they hate Trump.
“ANYONE NOTICE THERE ARE NO POLITICIANS IN THESE ARRESTS?........................”
Yes! Notice they are only going after rich people in the private sector including “evil” CEOs. This is quite an established racket. Would politicians have taken advantage of it? They would not have had to use money but could have simply traded political favors.
Q: How do you tell a Yale man?
A: You don’t have to, he’ll tell you.
I was in a dive bar outside Philadelphia when this drunk, homeless looking guy next to me inquired about my Boston accent. He then started telling me about the school he attended in New Haven. At least he had something to hold onto.
“ANYONE NOTICE THERE ARE NO POLITICIANS IN THESE ARRESTS?........................”
Yes! Notice they are only going after rich people in the private sector including “evil” CEOs. This is quite an established racket. Would politicians have taken advantage of it? They would not have had to use money but could have simply traded political favors.============================
I don’t think political favors would have been accepted by this outfit. They only wanted to be paid in green.
Political favors are as good as money to the right client middleman.
The SUPER rich had been buying college admission for their kids since forever. Let the merely rich do it too, and it might dilute the cachet of a Harvard degree. Can't have that happen.
Plus, these guys used lower-level people to do it. The senior trustees were not getting their cut. Can't have that.
Commercial RE not known to have either the brightest or the most ethical...
Also a distraction on the related story of Lisa Page’s damning testimony.
Let me know when a senator gets named as a bribery suspect.
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