Actresses, CEOs Indicted in Nationwide College Admissions Scam

1076
SHARE
IIG Managing Partner pleads guilty to Ponzi-like scheme

The U.S. government filed charges against 50 individuals including two actresses and several top business executives for their alleged involvement in a nationwide college admissions scam.

On Tuesday, law enforcement officials led by U.S. Attorney Andrew Lelling of Massachusetts alleged that the suspects were involved in a $25 million scheme to help wealthy students get into prestigious colleges and universities.

Some of the suspects named in the indictment include actresses Felicity Huffman and Lori Loughlin; Gregory Abbott, founder and chairman of International Dispensing Corp.; Douglas Hodge, a former CEO of Pimco; William McGlashan Jr., a senior executive at TPG Capital; Manuel Henriquez, chairman and CEO of Hercules Capital and Robert Flaxman, founder and CEO of Crown Realty & Development, among others.

Law enforcement officials said these wealthy parents allegedly paid bribes to athletic administrators and coaches to secure the admission of their children in Georgetown, Yale, Stanford, and other top universities. They were charged with conspiracy to commit mail fraud and honest services mail fraud.

College admissions scam mastermind

Based on the charging documents, William Rick Singer was the mastermind of the college admissions scam. He allegedly used his college counselling business and his charitable foundation in carrying out his scheme to help wealthy students gain admissions to top universities.