The $6.5 million figure has stood out for its size since prosecutors in the U.S. Attorney’s office in Boston unveiled their case in March. While 33 parents have been charged so far in a sprawling investigation of fraud, bribes and deceit in the college admission process, none are accused of spending sums that even approach what Zhao’s family are said to have paid. Prosecutors declined to common on the case.
An FBI agent wrote in an affidavit for a warrant that Singer’s clients paid him up to $6.5 million per applicant, but the amount was not tied to a name in court documents. It is believed Zhao’s parents met Singer through the manager of a Los Angeles-area branch of investment bank Morgan Stanley. Sources familiar with the manager said she often brought Singer into the office, and encouraged her financial advisors to offer his college consulting services to their clients.
Wow. That’s one helluva misleading headline. The billionaire family sounds duped. Anyway, great job breaking the news that some rich people use bribery for special favors. Just kidding. It’s common across competitive markets & a disease to capitalism. You should read about it.
What is the annual salary for an admissions clerk at these Ivy League universities? .. or how much will be raised to next year? $6.5M will most likely need sponsorship.
if they can afford, let them pay, pure Keynesian
If I had that kind of money to piss away I will just give it to my kid to live on why bother going to college
kadhimshubber Also, look at Morgan Stanley with the value added service. They should start putting this in their wealth management prospectus and it would really boost AUM.
kadhimshubber Well, at least it was an OK school this time and not Wake Forrest. You get what you pay for, even with bribes.
S P Y
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