16 Parents Indicted On Fraud, Money Laundering Charges In College Admissions Scheme

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Actress Lori Loughlin and 15 other parents previously named in a college admissions fraud were indicted by a federal grand jury in Boston Tuesday in a new document that includes an additional charge of conspiring to launder money.

The parents, including several from the Bay Area, are accused of laundering money by funneling bribes and payments through a purported charity run by college consultant William “Rick” Singer.

The scheme consisted of falsifying children’s college entrance exam results or bribing coaches and college administrators in phony athletic recruitments, or both. The bribes allegedly typically amounted to $200,000 to $400,000 per child, according to the indictment.

The new money laundering charge and a previous charge of conspiracy to commit mail fraud and honest services fraud each carry a possible maximum sentence of 20 years in prison.

Read the original article here: sfgate.com

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