Tipster Behind College-Admission Scam Revealed; Mickelson Admits He Used Service

Zero Hedge | 3/14/2019 | Staff
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New details have emerged on how prosecutors helped uncover what is being called the "largest college admissions scam ever". In addition, new celebrity names, including golfer Phil Mickelson, are being added to the list of those who used the service involved in brokering bribes to prestigious universities like Yale and Stanford.

The scam was uncovered due to a tip that was given to the SEC by Morrie Tobin, a Los Angeles financial executive who was being charged for a financial pump and dump scheme at the time. Tobin "was being investigated in a securities fraud case," when he tipped off the government, seeking leniency, according to a new report by the Wall Street Journal.

Tobin - Yale - Alumnus - School - Women

Tobin is a Yale alumnus, who said that the school's women's soccer coach had sought out a bribe in order to get his daughter into the school. As a result of the tip, regulators were able to uncover the massive scandal. Tobin is awaiting sentencing in his securities fraud case that he signed a plea deal for last November.

Tobin reportedly wore a wire to help catch Rudy Meredith, Yale's Women's Soccer coach. He met with Meredith in a hotel room in Boston during April 2018, where the coach said he could get Tobin's daughter on the team for $450,000. Meredith also helped another California family's daughter make the team after he was paid $400,000, according to the report.

Phil - Mickelson - Bribery - Company - College

Separately, golfer Phil Mickelson admitted he had used the bribery company to "guide [him] through the college admission process" in a Tweet. His name was not part of the case, and a Bloomberg article notes that he was one of the legitimate clients of the company in question.

In addition, Bill McGlashan, co-founder and managing partner at TPG Growth, has resigned from his position after being arrested in conjunction...
(Excerpt) Read more at: Zero Hedge
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