{"id":118492,"date":"2019-03-13T06:51:10","date_gmt":"2019-03-13T10:51:10","guid":{"rendered":"https:\/\/stateofthenation2012.com\/?p=118492"},"modified":"2019-03-13T06:51:10","modified_gmt":"2019-03-13T10:51:10","slug":"so-this-is-how-the-wealthy-elites-take-care-of-their-own-chutzpah-on-steroids","status":"publish","type":"post","link":"https:\/\/stateofthenation2012.com\/?p=118492","title":{"rendered":"So this is how the wealthy elites take care of their own—chutzpah on steroids!"},"content":{"rendered":"

Feds Arrest Dozens, Including Actresses and Ex-Pimco CEO, In “Largest College Admissions Scam Ever Prosecuted”<\/h1>\n

ZeroHedge.com<\/p>\n

Update 3\/12\/2019 2:54PM EST:<\/strong>\u00a0It was also disclosed that\u00a0Willkie Farr & Gallagher Co-Chairman Gordon R. Caplan has been charged. Caplan, described in the complaint as\u00a0\u201can attorney and the co-chairman of an international law firm based in New York\u201d,\u00a0is\u00a0reportedly<\/a>\u00a0said to have donated $75,000 to the brokering entity in question in order to have SAT test administrators correct his daughter’s answers after she finished it.<\/p>\n

Update 3\/12\/2019 1:46PM EST:<\/strong>\u00a0The complaint alleges that Ex-Pimco CEO Hodge\u00a0\u201cagreed to use bribery to facilitate the admission of two of his children to USC as purported athletic recruits\u201d and, according to Bloomberg, he “sought to enlist the support of a cooperating witness to help a third child gain college admission”. Hodge declined to comment to Bloomberg when reached on his mobile phone, reportedly only saying, \u201cI can\u2019t talk right now.\u201d<\/p>\n

Update 3\/12\/2019 1:14PM EST:\u00a0<\/strong>Ex-Pimco CEO Douglas Hodge was also named among those charged in the scheme.\u00a0Hercules Capital also fell in intraday trading when it was revealed that its CEO and largest holder Manuel Henriquez was named in the DOJ\u00a0affidavit.<\/p>\n

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Federal prosecutors announced that they were charging dozens of people, including famous actresses Felicity Huffman and Lori Loughlin, in an alleged scheme to help students get admitted to colleges under false pretenses on Tuesday. They are being charged with conspiracy to commit mail fraud. 38 people have reportedly been arrested thus far.<\/p>\n

Prosecutors are alleging that the\u00a0individuals charged tried to bribe college entrance exam officials in order to cheat on admissions tests and that some conspired to bribe coaches and administrators to label their children as “recruited athletes”.\u00a0<\/strong>Athletes can sometimes get preferential treatment.<\/p>\n

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Among the colleges involved were\u00a0Georgetown University, Yale University, Stanford University and University of California Los Angeles, according to a WSJ\u00a0writeup<\/a>. Charitable organizations were used as fronts for the bribery payments, according to authorities. A\u00a0Newport Beach college counseling business, the Edge College & Career Network LLC, was named as the main facilitator of the bribes.<\/p>\n

More than $6 million in bribes were paid, according to\u00a0The Daily Mail<\/a>, who also reported that “[Lori] Loughlin and her husband ‘agreed to pay bribes totaling $500,000 in exchange for having their two daughters designated as recruits to the USC crew team'”.\u00a0<\/strong>Loughlin’s husband\u00a0Mossimo Giannulli has also been charged. It was also reported that Huffman paid a $15,000 charitable contribution. Her and her husband William H. Macy had planned to do the same for a younger daughter of theirs later this month, according to reports.<\/p>\n

It was alleged that Huffman’s daughter was able to cheat on her SATs as a result of the payments. According to the Daily Mail:<\/p>\n

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Huffman had the site where he daughter took the SATs moved from her own high school to a test center West Hollywood.<\/p>\n

Her test was then administered by a proctor who had flown in from Tampa and told investigators that he ‘facilitated cheating, either by correcting the student’s answers after the test or by actively assisting the student during the exam.’<\/strong><\/p>\n

In this case, Huffman daughter scored a 1420, which was a 400 point improvement from her PSAT results just one year prior.<\/p>\n

Soon after the proctor was paid $40,000 by the same organization that Huffman would later give a $15,000 donation according to the documents.\u00a0<\/strong><\/p><\/blockquote>\n

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The document by authorities filed on Tuesday read:<\/p>\n

‘Beginning in or about 2011, and continuing through the present, the defendants — principally individuals whose high-school age children were applying to college —\u00a0conspired with others to use bribery and other forms of fraud to facilitate their children’s admission to colleges and universities<\/strong>\u00a0in the District of Massachusetts and elsewhere, including Yale University, Stanford University, the University of Texas, the University of Southern California, and the University of Southern California — Los Angeles.’<\/p><\/blockquote>\n

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Boston authorities called the bust\u00a0“the largest college admissions scam ever prosecuted by the Department of Justice.”<\/p>\n

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Boston authorities announce charges in what they call "the largest college admissions scam ever prosecuted by the Department of Justice."<\/p>\n

More on @business<\/a> \ud83d\udc49 https:\/\/t.co\/fZLKQ5mc6G<\/a> pic.twitter.com\/AeVJ6JNlWu<\/a><\/p>\n

— Bloomberg Originals (@bbgoriginals) March 12, 2019<\/a><\/p><\/blockquote>\n