Private equity founder gets 15 months in prison in U.S. college scandal -Breaking
[ad_1]
© Reuters. John Wilson, founder of private equity firm Private Equity Group (C), is charged with conspiring to pay bribes in order to fraudulently obtain admission to his children’s top schools.2/2
BOSTON (Reuters), A private equity investor was sentenced to 15 months imprisonment for conspiring to pay bribes in order to get his children admissions spots at the top U.S. schools.
John Wilson was sentenced to the longest prison term any of the parents, coaches, and other defendants in the scandal of college admissions at Varsity Blues have ever received.
The sentence was issued by Nathaniel Gorton, U.S. District Judge in Boston, a week following the sentencing of another parent, ex-Wynn Resorts (NASDAQ) executive Gamal Aziz to one year imprisonment. Both men had been convicted at the initial trial that followed the scandal.
Wilson (62), was convicted on bribery fraud conspiracy and fraud charges. Prosecutors claimed that Wilson deserved a more severe sentence because he participated in a larger scheme, which involved $1.2 million in bribe money.
His lawyer Michael Kendall has denied that he was involved in wrongdoing. He is expected to appeal. Michael Kendall, Wilson’s lawyer, stated that a six month sentence was sufficient to prove that Wilson is not “the outlier the government has made him out of being.”
In the investigation, fifty-seven people were charged. The probe focused on a scheme where parents conspired to use fake athletic credentials in order to ensure their children’s admissions at college.
Singer pleaded guilty in order to facilitate cheating at college entrance exams. Singer also funneled money to corrupt coaches, athletics officials, and to ensure university admission for his client’s children through falsely designating them athletic recruits.
Prosecutors claim Wilson spent $220,000 on his son’s admission to University of Southern California in 2014.
According to the prosecutors, Jovan Vavic was responsible for about $100,000 in bribes that were paid to Singer’s children to be recruited to an account at USC. Vavic will be facing trial on similar charges in the next month. He has already pleaded not guilty.
Prosecutors claimed that Wilson paid $1 million to his twin girls in 2018 to get them admitted at Harvard University and Stanford University to be sailing recruits.
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.
[ad_2]
