Law and Courts United States

College admission scandal: Hercules ex-CEO admits $400k bribe

College admission scandal Hercules former CEO accepts $400k bribe charge

It is being said that the college admission scandal is the biggest scam of the decade. More than 50 people have been charged or are under investigation for participating in the college admission scandal. Lately, former CEO and founder of Hercules Capital Inc., Manuel Henriquez has agreed to plead guilty in bribery charges for the admission of his children.
California food executive, Michelle Janavs has also agreed to plead guilty in the federal court in Boston, Massachusetts. Both of these parents have accepted paying $400k to Rick Singer to improve the entrance score and for the admission of their children to Georgetown University, posing as fake tennis recruits. 

College admission scandal a blatant show of money power

So far 35 parents have been charged. The list of these 35 people includes famous celebrities and top executives at reputed firms like Felicity Huffman from the show Desperate Housewives and Full House star Lori Loughlin. Felicity Huffman was fined a hefty amount of money along with a 14-day term at a federal prison. 
All of these parents had their contact with Rick Singer, who is the mastermind of the scam. Rick accepted all his charges and plead guilty when he was arrested in March. Rick had been facilitating these scams since 2012 by helping his ‘clients’ pose as athletic recruits.
On Monday, both Henriquez and Janavs will be presented to the court. Douglas Hodge, a former CEO of PIMCO, will also plead guilty for paying half a million dollars for the admission of his three children to Georgetown University and the University of South Carolina. This makes three executives who have accepted to plead guilty to the college admission scandal charges within the past two days.
The investigation is still undergoing to bring everyone involved in the scandal to justice. The authorities have named the operation as ‘Operation Varsity Blues’.
Last Friday, Robert Flaxman, a real estate developer based out of California was the tenth person to be sentenced by the federal court. Along with Manuel Henriquez, his wife Elizabeth is also charged in the college admission scandal. However, she has pleaded not guilty.


Mihir Sharma

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