Remember the Varsity Blues cases that blew up in the faces of many affluent families seeking acceptance for their children into Ivy League Colleges under the guise of superior athletes? Do you remember how the authorities found out about the elaborate scheme? I don’t think I knew how the authorities caught on until recently while doing research.
The FBI had been investigating a securities fraud case when one of the financial executives being investigated asked for leniency for information about the then-Women’s Soccer Head Coach at Yale who had told the financial executive he could get his daughter into Yale for a price—$450,000.
The informant wore a wire and met with the Head Coach. The two men made the deal. At the meeting, the father paid a small deposit, followed by a wire transfer payment from a bank account controlled by the FBI. After the sting operation, the coach with 20+ years at Yale resigned, stating,
“It’s time to explore new possibilities and begin a different chapter in my life.”
No mention of the college admissions scandal or having received over $850,000 in exchange for falsely designating children as soccer recruits.
The former coach pleaded guilty to one count of conspiracy to commit wire fraud and honest services wire fraud and one count of wire fraud and honest services wire fraud. A federal judge sentenced him to five months in prison, one year of supervised release, pay a $19,000 fine, and forfeiture of $557,774. He is scheduled to report to prison in January 2023. #fraud #scandal
Source: US Department of Justice, The Wall Street Journal, USA Today