The FBI busted rich parents for allegedly bribing their kids into elite schools. Here’s the not-so-secret way the superrich game college admissions.

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Nearly 50 people have been charged in an alleged wide-ranging scandal where wealthy people paid millions of dollars to fabricate their children’s credentials during the college admissions process.
Usually, the ultra-wealthy manipulate the process in simpler ways.
A series of leaked emails and records from elite colleges show situations where the ultra-wealthy donate millions to elite colleges like Harvard University and Brown University.
At the same time they make those donations, their children get special consideration from the colleges.
Elite colleges are generally already extremely wealthy and may not even need the money.

The Department of Justice unsealed charges against 46 people Tuesday, alleging they took part in an elaborate plot to game the college admissions process.

According the charges, the scheme involved bribing, faking standardized tests and sports team memberships to unfairly get students into elite colleges. Basically, all the parents allegedly paid a man named William Singer to arrange for someone to take the SAT or ACT for students as well as bribe college athletics officials to get students recruited on teams — even if they didn’t play the sport.

Read more: Hollywood actresses and the wealthy are accused of paying to get their kids into elite colleges by cheating on exams and faking athletic skills. Here’s how investigators say the scheme worked.

That method, though, is distinct from how wealthy parents usually try to get their children into top-tier schools.

Usually, it comes down to what some people would describe as bribery: Parents make a huge donation to a school — say paying for a building — and their kids get admitted.

It’s hard to find clear-cut examples of this exchange happening in the open. But in a few cases, leaked emails and court records show how donations hold sway over the …read more

Source:: Business Insider


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