Guilty pleas, more charges in bribery case | April 12, 2019 | Palo Alto Weekly | Palo Alto Online |

Palo Alto Weekly

News - April 12, 2019

Guilty pleas, more charges in bribery case

Parents face prison time, hundreds of thousands of dollars in fines in college-admissions scam

by Sue Dremann

Even as four Midpeninsula residents agreed to plead guilty in the recent national college-admissions bribery scandal, federal authorities on Tuesday added fraud and money laundering charges against four other indicted area parents.

This story contains 1330 words.

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Staff Writer Sue Dremann can be emailed at


6 people like this
Posted by parent
a resident of Downtown North
on Apr 9, 2019 at 6:39 pm

Sounds like the Feds have serious prison time planned for the perps now

4 people like this
Posted by @parent
a resident of Mountain View
on Apr 9, 2019 at 7:09 pm

...unless they plead at warp speed.

Like this comment
Posted by Joe Shmo
a resident of Downtown North
on Apr 11, 2019 at 10:27 am ran a 100bn money laundering worldwide enterprise to illegally and cryptically transfer funds from credit cards to online casinos, many which were completely fraudulent, from tax evasion haven Isle of Man.They published in their prospectus their business violated US law. They use well known money laundering professionals and multi-convicted money laundering bank HSBC. Jail time for CEO, NONE.

Like this comment
Posted by Joe Shmo
a resident of Downtown North
on Apr 11, 2019 at 10:39 am

F Squared of Wellesley MA marketed a 100% fraudulent investment index used by many firms to generate huge fees on 27bn for themselves. They used a fictional algorithm developed by a 19yr old college student, starting in 2008. F squared claimed they had superior returns from 2001 up until they were forced to close, when the college student would have been 12yrs old, but being all in cash in 2008 to avoid losses. Fact is they were all in cash in 2008, every bit of the 190 dollars they had, and had missed payroll. Jail time for owner and CCO who didnt even know he was CCO, nada.

2 people like this
Posted by The Public Interest
a resident of Charleston Gardens
on Apr 11, 2019 at 10:43 pm

Hope they are held accountable if they didn't do the right thing.

6 people like this
Posted by Resident
a resident of Old Palo Alto
on Apr 12, 2019 at 4:11 am

We now need to look into money laundering through our real estate.
In Sept 2018, The Independent reported that “Criminals are Targeting Property in University Towns To Launder Dirty Cash”
Web Link

Canada is cracking down on money laundering as well, and has linked large real estate deals to illegal drug trade, and casinos.
From the CBC in February 2018
Web Link

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