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Home / US / LA financial executive tipped authorities to college admissions scandal for leniency in fraud case, report says

LA financial executive tipped authorities to college admissions scandal for leniency in fraud case, report says



A Los Angeles financial executive who had been investigated in a securities fraud case informed the authorities about the large admission scandal at the university, according to a report.

Morrie Tobin was questioned in an alleged plan – in which people conspire to inflate the price of a stock so that they can sell it at a profit – when he offered a suggestion to the federal authorities to obtain clemency, The Wall Street Journal reported .

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Tobin, who attended Yale University, told investigators that the coach of Yale's women's soccer team had asked a bribe in exchange for his daughter in the Ivy League school, the spokesman said.

His suggestion led to the recent revelations about the college counselor, William Singer. Federal prosecutors said that Singer has run a program in which wealthy parents have bribed sports coaches and other officials to get their children into the elite universities. More than 50 people have been charged – including TV actresses Felicity Huffman and Lori Loughlin.

The universities were victims and moved to get away from the coaches, dismissing them or suspending them.

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Tobin is awaiting conviction in the case of fraud in which he signed a plea bargain in November.

He attended Yale in the 80s, playing hockey for school, before moving to the University of Vermont, the newspaper said. One daughter, Rachel, graduated from Yale in 2015; two of his other daughters are currently senior and junior, respectively.

Click for more information on The Wall Street Journal.


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