Tipster Behind College-Admission Scam Revealed; Mickelson Admits He Used Service

The Wrap reported that he was involved in:

...hiring a proctor to improve his son’s answers on the ACT test before they were submitted and “conspiring to bribe” USC senior associate athletic director Donna Heimel “to facilitate his son’s admission to USC as a recruited athlete.” He even created a fake profile of his lacrosse-playing son as a football kicker as part of the scheme, court documents say.

Earlier on Thursday we reported that the universities involved were now facing class action lawsuits from their students. Last night, we also reported on major tax implications that could be waiting for the parents involved - including potential civil tax fraud penalties and interest charges on any bribe amounts they wrote off. 

Meredith also reportedly worked with William Rick Singer, the man at the center of the scheme. Yesterday morning, we unveiled that William Rick Singer was revealed as the man who brokered and facilitated many of the bribes. 

Singer is called a "self described serial entrepreneur" who appeared to have found his niche in helping young people get into college. He was the founder of the Edge College & Career Network, the institution that helped broker bribes between the uber-wealthy and prestigious colleges. According to the company’s website, his goal was to "help alleviate the anxiety of getting into college" because he “has seen first hand the stress that the college admissions and athletics recruiting process can put on a family."

Following charges, Singer pled guilty to racketeering, money laundering, conspiracy to defraud the United States and obstruction of justice. He is looking at between 15 and 19 1/2 years in prison for his crimes. Our original take on the scandal can be read here

< Prev 1 2 Next >

Sign Up

Get the InvestingChannel
Free e-Letter Today

Learn More

Independent market opinion, analysis and ideas - delivered every business day

Premium market opinions, analysis, and ideas - delivered every business day

Editor's Picks