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.
I stole it and liked it.
Yes but they did have to demonstrate competency in their field, unlike Harvard Grads.
You can always tell a Harvard man, but not much.
True, but this isn't about the kids.
This is about bragging rights for the parents.
"My daughter is in Harvard, Buffy!"
"Wonderful! Our youngest was just accepted at Yale! More chardonnay?"
.
700+ families
Psychologists to fraudulently label kids LD
Falsified sports resumes with the possible assistance of HS coaches or elite Club Team coaches
Bribed proctors at SAT/ACT testing centers.
Fraudulent SAT test takers (for those beyond LA & Orange County, CA)
Bribed University Athletic directors or coaches in numerous Universities
Bribed Admissions Officers or other school personnel at Universities nationwide.
Bogus charity to launder the bribes as donations.
IRS tax fraud.
Well...it frees up 200 agent to go on the attack for bigger and better targets
we had:
NEXIUM
Pedophile networks
Now this scholarship net
And expect more hits are coming.
Add this to the mix today....connect the dots
http://www.freerepublic.com/focus/f-news/3734648/posts
Feds charge 5 from New Mexico compound, 11 children found, terror, kidnapping offenses
https://www.foxnews.com/us/feds-charge-5-from-makeshift-new-mexico-compound-where-11-emaciated-children-were-found-with-terror-kidnapping-offenses ^ | March 14, 2019 | Kathleen Joyce
Posted on 3/14/2019, 10:50:31 AM by gattaca
Money doesn’t buy respectability. Having a Harvard grad child, maybe?
With the bank rolls of those parents, those kids were already set for life. It had to be about the prestige, for the parents, of having a child graduate from an Ivy League school.
This was going on long before Suits and long before the current scandal.
Worse, they might find some high profile politicians or federal judges with fraudulent credentials.
When I heard the story about being on the crew teams and pole vaulting teams I suspected it involved some kind of a Title IX exploit. These schools have the money and the NCAA sports revenues from basketball and/or football that they have a lot of funds for these more marginal sports programs - and likely a dearth of qualified applicants for them.
In the case of a politician it is a two way street. The university trades on the name of the pol just as much as the pol’s kid trades on the university name. The fundraising and recruiting people will be repeating the names “Chelsea, Cuomo, Obama, Bush, Kennedy” etc at every event for years. And it raises (or maintains) the prestige value.
Think about why it makes the news when one of these kids decides to eschew Harvard or Yale and chooses Brown, instead.
“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.
This is just like the top Good Old Boy schools in England.
Even dummies, who were graduated from a Good Ole Boy School in America or the UK had it made in life due to their class mate association.
Cheaters prosper. Especially here in California.
“In the case of a politician it is a two way street. The university trades on the name of the pol just as much as the pol’s kid trades on the university name.”
Good points.
“I don’t get it. I don’t get the desire for the status of saying your kids went to Ivy League or other prestigious colleges such as Stanford.”
Because it is a guarantee of entre into the privileged class. They hire each other, marry each other, and help each other cheat to get ahead.
BOL! Of course, you can replace Yale with Harvard or Georgetown/GW on the east coast or Stanford, USC or UC Berkley on the West Coast.
Q: How do you tell a Yale man?
A: You don’t have to, he’ll tell you.
Because it is a guarantee of entre into the privileged class. They hire each other, marry each other, and help each other cheat to get ahead.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.